The fintech industry associations of Switzerland and Singapore have agreed to a closer cooperation. The pact is the latest in a flurry of activities to promote the countries’ technology-based industries.
Swiss Fintech and Technology Association (SFTA) and Singapore Fintech Association have signed a memorandum of understanding, according to a statement.
The pact will foster a closer cooperation between the two fintech ecosystems. The partnership will nurture business opportunities and promote the exchange of expertise between members, with the aim of developing innovation in both markets.
Similar Strengths
As part of the networking effort, a Swiss delegation will be visiting the Singapore Fintech Festival in November. Representatives from the city-state in turn will visit Switzerland next year, according to the statement.
Switzerland and Singapore have similar strengths that help new industries develop: «For example, our shared wealth management industries, leading technical universities, and stable governments,» said John Hucker, the president of SFTA.
Swiss-Israel Pact
Switzerland is working hard to make progress in establishing the country as a hub for fintech businesses. Ueli Maurer, the country’s finance minister, on Monday signed an agreement with Israel’s finance minister, Moshe Kahlon, with the intention of strengthening cooperation between the two countries’ finance industries with a view to boost fintech.
