Media Release




– Singapore FinTech Association and City TLY of Israel

Sign Memorandum of Understanding –


01 December 2017, Singapore/ Tel-Aviv, Israel – The Singapore FinTech Association (SFA) and the Israeli City TLV association have inked a Memorandum of Understanding (MOU) to foster greater FinTech co-operation between the two communities.


The MOU signed between the non-profit associations aims to bridge the two FinTech ecosystems, through cross border collaboration and initiatives.  Concretely, last month the leaders of the two associations took part in a joint televised conference on SMEs and an Israeli delegation attended the Singapore Fintech Festival. Further exchanges are planned to link these two hubs, which share similar profiles as leaders in technology with impeccable reputations for business services. The partnership will continue to nurture global business opportunities and allow exchange of technology and expertise between members, with the aim of developing innovation in both markets.


Mr Shmuel Ben-Tovim, President of City TLV said: “Singapore is an important partner in our global FinTech network.  They set a fine example of the potential for FinTech, with natural synergies between Israel and Singapore, enforced by our shared ambition for excellence in innovation and technology and the friendly relations between the two governments.

City TLV will aim to include in the implementation of the MOU all relevant associations in Israel, including The Floor, Fintech Aviv, IATI, Israel Export Institute and Start-up Nation. This MOU is another example of our focused efforts to enable a global FinTech ecosystem which can generate returns for all stakeholders.”


Mr Chia Hock Lai, President of the SFA said “The Singapore Fintech Association is pleased to partner with City TLV. Singapore and Israel have much in common, with population sizes that naturally lend themselves to products that can scale from day one, regionally or globally.  In contrast, Israel is stronger in deep tech start-ups while Singapore is a FinTech hub due to its strong financial centre. These complimentary sectors provide an excellent base to build robust partnerships for the future.”


About City TLV

City TLV is partnership for the promotion of Greater Tel-Aviv as an International Financial Center. It is an NGO led by entities and individuals that share the vision and can play substantial roles in its realization. The main objectives are to create a world-class hub of selected financial services in Israel; to encourage innovation in the financial sector; to represent the financial services industry in international forums; to expose Israel and Tel-Aviv as a center of financial and professional services of the highest quality; to create business opportunities for its members by initiating international visits and conferences.​


About the Singapore FinTech Association

The Singapore FinTech Association (SFA) is a cross-industry, non-profit organization designed to facilitate collaboration between all market participants and stakeholders in the FinTech ecosystem. It has over 125 members, who represent the full range of stakeholders in the FinTech industry, from early stage innovative companies to large financial players and service providers. The SFA also partners with institutions and other associations, from Singapore and globally, to cooperate on initiatives relating to the FinTech industry. Find out more at



For further enquiries, please contact:

SFA:                                                                               City TLV:

Caroline Bowler, Bowlah PR                                                       Shmuel Ben-Tovim, President

DID: +65 8332 7688                                                               P: +972 (0)54 7880606

Email: [email protected]                                                   Email: [email protected]