The Monetary Authority of Singapore (MAS) and the Asia-Pacific Future Financial Research Institute have signed a FinTech Co-operation Agreement to promote academic exchanges, information sharing and research co-operation on FinTech.

It aims to encourage greater collaboration between business communities, academia and think tanks from Singapore and China.

Under the Agreement, both parties have also committed to facilitate greater co-operation among financial institutions in Singapore and China to leverage on FinTech to benefit their consumers.

Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “Singapore and China have been longstanding partners on many fronts. This agreement is another step towards closer collaboration between the FinTech ecosystems of Singapore and China to benefit consumers and businesses. ”

“We look forward to greater knowledge exchange and deeper financial collaboration with the FinTech community in China to nurture a more vibrant global FinTech ecosystem in both countries.”

Ms Du Yan, Executive President, AFF, said, “The FinTech era requires more international communication and cooperation. Regulators from different jurisdictions need to promote innovation in financial services to enhance financial inclusion globally.

“Additionally, different institutes should share knowledge and cooperate on innovation. We would like to make joint efforts to construct a better financial eco-environment and promote responsible innovations.”

The agreement was signed before the FinTech Roundtable, co-organised by MAS and AFF.