Singapore-UK in fintech cooperation

Added 13th May 2016

Singapore's monetary authority and the UK's Financial Conduct Authority have agreed to cooperate to promote cross-border financial technology development.

Singapore-UK in fintech cooperation

The cooperation sets out how the regulators plan to share and use information on financial services innovation in their respective markets, according to a statement from the Monetary Authority of Singapore (MAS). Both MAS and the FCA will be able to refer local fintech firms to each other. 

“This will help innovative firms from Singapore that want to bring new ideas to the UK”, and at the same “help those British firms with new ideas who want to expand into Singapore support,” Christopher Woolard, director of strategy and competition at UK’s FCA, said in the statement.

Jacqueline Loh, MAS' deputy managing director, said the cooperation would “support fintech innovators who wish to use Singapore as a base for collaboration and as a gateway to other markets in Asia.

"[It] will also create opportunities for Singapore-based companies to grow and scale into the UK market.”

The agreement follows Singapore’s move to set up a fintech office earlier this month, hoping to build a “smart financial center”.

The UK fintech sector generated £6.6bn ($9.52bn) in revenue in 2015 and has 60,000 employees.

Hong Kong, however, has the highest rate of financial technology use in the world, according to an EY survey

Kames Income Hub


Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

Square Mile Research

Matthews Asia Funds Asia Dividend
Matthews Asia Funds Asia Dividend...

Talking Factsheets is a video service for users...

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address



Investment Strategy




PA Channel Island 2016
PA Channel Island 2016

8th November 2016
The Royal Yacht, Jersey


17th November 2016
The Andaz

PA Emerging Markets 2016
PA Emerging Markets 2016

1st December 2016
The Mayfair, London

Sponsored Content

Investment Strategy