Innovate Finance and the Singapore Economic Development Board sign new International Hub membership

1st April 2022 | Blogs, News

1 April 2022, United Kingdom: Innovate Finance, ​the UK FinTech membership association is delighted to welcome the Singapore Economic Development Board (EDB) as its latest International hub member.

Innovate Finance will support EDB in its mission to strengthen existing connections to the UK FinTech ecosystem, promoting Singapore as a gateway for UK FinTechs to South-East Asia and enabling a better understanding of the opportunities for the two ecosystems to work together to promote more sustainable FinTech.

Building on the success of the existing UK-Singapore FinTech Bridge, as well as the recently signed Digital Economy Agreement between the two countries which benefits and supports FinTech businesses, this partnership is an excellent opportunity to develop deeper connections between the two countries at an important time, enabling the respective FinTech communities to take advantage of opportunities overseas.

With over 1,000 FinTechs, Singapore is the base for more than 40 per cent of FinTech companies in Southeast Asia, and the top FinTech hub in Asia Pacific. The city-state has evolved from being Asia’s leading financial hub to becoming a global node for technology innovation. Singapore is actively seeking and supporting innovative FinTechs, across diverse areas such as payments, banking-as-a-service, embedded finance, green finance, digital assets and many others, that share the ambition of revolutionising the financial sector. 

More than 250 global members have joined the Innovate Finance ecosystem to date. These companies range from seed stage start-ups to global financial institutions and professional services firms. All benefit from Innovate Finance’s leading position as a single point of access to promote enabling policy and regulation, talent development, and business opportunity and investment capital. 

Janine Hirt, CEO of Innovate Finance, said:

“I am delighted to have the Singapore Economic Development Board as our newest International Hub member. 2022 is the year for UK FinTech to fully realise its international ambitions, both as a global leader but also as an enabler for innovation across financial services. We look forward to working with EDB to build deeper connections between our respective FinTech ecosystems.”

YC Choy, Vice President and Head of Region (Europe), EDB, added: “We are pleased to join the Innovate Finance community and offer support to FinTechs that are embarking on their internationalisation journey to Southeast Asia. We look forward to working with Innovate Finance to build stronger bridges between the tech hubs of the UK and Singapore for greater innovation and growth for the sector.”

Choy is speaking at the Innovate Finance Global Summit session, “The Power of Partnerships”, on 4 April . FinTech scaleups that are interested in Southeast Asia can register to meet key stakeholders in the Singapore FinTech ecosystem, including the Chief FinTech Officer of the Monetary Authority of Singapore and representatives from investors such as Temasek on 6 April at an exclusive UK FinTech Week breakfast networking session hosted by EDB.


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About Innovate Finance:

Innovate Finance is the independent industry body that represents and advances the global FinTech community in the UK. Our mission is to accelerate the UK’s leading role in the financial services sector by directly supporting the next generation of technology-led innovators.

Innovate Finance’s membership ranges from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs. All benefit from Innovate Finance’s unique position as the single point of access to promote enabling policy and regulation, talent and skills, business opportunity and growth, and investment capital.

By bringing together and connecting the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more transparent, more sustainable and more inclusive.

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