Innovate Finance, the UK FinTech membership association and Singapore FinTech Association, the cross-industry and non-profit organisation supporting the development of the FinTech industry in Singapore, today signed a Memorandum of Understanding (MoU) at the Singapore FinTech Festival to cement cooperation and greater collaboration between the UK and Singapore FinTech markets.

BREAKING: Innovate Finance and Singapore FinTech Association Sign MoU https://t.co/heqLGxnW5Z #SingaporeFintech #SGFinTechFest pic.twitter.com/uo13qbWV3p

— Innovate Finance (@InnFin) November 13, 2018

The partnership builds on the existing FinTech bridge between the UK and Singaporean governments and intends to foster closer ties on industry initiatives and explore more ways to support and promote the two organisations and their members, including events and programmes, research and insights and scaling support.

Natalie Ceeney CBE, Chair of Innovate Finance, said: “I am delighted to have signed this Memorandum of Understanding with the Singapore FinTech Association. This agreement is representative of Innovate Finance’s continued support for both business and regulatory alignment between international FinTech Hubs. We have previously supported the UK Government and the FCA in their work to provide channels to working collaboratively overseas. We intend to work in partnership with the Singapore FinTech Association to ensure a mutually beneficial and competitive environment for FinTech firms to succeed.”

Hock Lai Chia, President of Singapore FinTech Association, said: “We are delighted, with the signing of this MoU, to formally connect the U.K. & Singapore FinTech community. The SFA looks forward to exploring ecosystem partnerships with our British colleagues, and to strengthening the FinTech bridge of the two leading FinTech hubs of the world.”

Source: Innovate Finance