Fintech alliance round-up: 5 September 2017
What the world needs now is love, sweet love. And fintech is on hand to deliver with a pair of co-operation agreements. Features the Monetary Authority of Singapore and Chongqing; and the Swiss Financial Market Supervisory Authority and Israel.
The Monetary Authority of Singapore (MAS), the Chongqing Financial Affairs Office and the Chongqing Connectivity Initiative Administrative Bureau in China have been discussing opportunities for deeper financial collaboration between the two cities. Called the Chongqing Connectivity Initiative (CCI) financial services pillar, this is the third government-to-government collaboration project between Singapore and China. The other areas were non-fintech related.
The areas discussed in their conference include financing infrastructure projects under the Belt and Road Initiative, promoting cross-border asset securitisation, and developing insurance and risk management solutions to support investment. Belt and Road refers to China’s strategy to get more connectivity and co-operation between Eurasian countries.
Meanwhile, Switzerland and Israel have deepened their financial co-operation. The Swiss Financial Market Supervisory Authority (FINMA), the Israeli Capital Market, Insurance and Savings Authority (CMISA) and the Israel Securities Authority (ISA) have made an agreement for fintech companies to establish initial discussions and understand regulatory requirements.
FINMA, CMISA and ISA will also share information about emerging fintech trends and their impact on regulation. A Swiss delegation also scheduled a visit to the Citi Accelerator, a hub created in 2013 for Israeli start-ups by the Technology Innovation Lab, which was established as part of Israel’s Ministry of Finance’s programme to promote fintech in the nation.
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Deadline for submitting the nominations has been extended to 8 September 2017.