Industry body FICCI signed an agreement with Singapore Fintech Association (SFA) to boost cooperation for the development of financial technology industry in India and the southeast Asian country. Federation of Indian Chambers of Commerce and Industry (FICCI) signed a memorandum of understanding with SFA as part of the growing Singapore-India fintech ecosystems.
“This is one more instrument to connect the FinTech Eco-Systems of the two countries, as there is already very strong cooperation. A lot of Singapore fintech companies have counterparts in India,” said Indian High Commissioner to Singapore, Jawed Ashraf.
The Trade Promotion Council of India (TPCI) will also be signing a pact with Monetary Authority of Singapore (MAS) for working towards access to Business sans Borders (BSB), a meta-platform for connecting cross border trade platforms this week. The FICCI-SFA MoU is a partnership agreement to share information about fintech and collaborate on mutually beneficial initiatives that will further development of fintech industry in both the countries.