Press Release: Singapore FinTech Association and AMTD Group join forces to support Singapore’s FinTech Community
- SFA and AMTD Group to jointly establish AMTD SFA Global FinTech Fellowship Programme in Singapore
- Partnership builds on SFA’s collaboration with AMTD in MAS-SFA-AMTD Solidarity Grant
Singapore, 13 July 2020 – Singapore FinTech Association (“SFA”) and AMTD Group (“AMTD”) signed a Strategic Collaboration Agreement today. This agreement aims to support and anchor Singapore’s FinTech community, maintaining Singapore’s leadership as one of the most energetic, sustainable FinTech ecosystems promoting innovation and entrepreneurship, and contributing to Singapore’s vision as a smart nation.
Through this collaboration, SFA will become a permanent Strategic Honorary Member of AMTD’s SpiderNet ecosystem and AMTD will also become a strategic partner of SFA. SFA and AMTD are committed to connecting each other’s ecosystems to maximise the synergies for all of their respective members, and empowering the members with wide-open, cross-regional, and cross-industry opportunities.
Speaking on the announcement, Chia Hock Lai, President of SFA commented, “As Singapore’s FinTech ecosystem continues to grow and mature, SFA strives to collaborate with strong ecosystem players to empower our FinTech community. We are glad that AMTD and SFA share the same vision and can bring our partnership to a new level.”
Calvin Choi, AMTD’s Chairman and CEO added, “Singapore has been a global leader in FinTech innovation. It is AMTD Digital’s headquarters and AMTD Group’s regional headquarters. There are growing needs from local FinTech start-ups to expand outside of Singapore and apply their technology in and learn from partners in other markets. The strategic partnership between AMTD and SFA would leverage on AMTD’s strong foundation in the Greater Bay Area and connectivity with the global markets, and further enable Singapore’s FinTech start-ups to connect outside of Southeast Asia.”
AMTD SFA Global FinTech Fellowship Programme
SFA and AMTD will jointly establish an AMTD SFA Global FinTech Fellowship Programme in Singapore. Each year, the programme will select up to 10 outstanding FinTech entrepreneurs with the most influential social impact and best vision. Each winner will be admitted into a five year programme, in which they will be connected to the global FinTech community including those in Hong Kong, Greater Bay Area, Middle East, Europe and North America through various events initiated by both parties. In addition, an Honorary Advisor Committee will be established with representatives from AMTD, Hong Kong Cyberport and other partners joining the committee. Each winner will be assigned with an Honorary Advisor who will advise and guide the entrepreneurs on strategic planning, management skills and help them navigate through challenging times. Upon graduation from this five year programme, the entrepreneurs will automatically become a permanent member of AMTD Global FinTech Leadership Club.
Commenting on the Fellowship Programme, Chia said, “SFA is excited to join hands with AMTD again to empower our FinTech community. Having a strategic partner that can connect Singapore’s FinTech players with the global market is essential to SFA’s global strategy, building upon SFA’s existing web of partnerships in over 40 countries.”
“AMTD SFA Global FinTech Fellowship Programme aims to empower and enable FinTech entrepreneurs, contribute to Singapore’s competitiveness as one of the most vibrant, leading FinTech centres in the world,” said Choi.
MAS-SFA-AMTD Solidarity Grant
The strategic partnership builds on SFA’s collaboration with AMTD in MAS-SFA-AMTD Solidarity Grant, in which SFA acts as the fund administrator of the Business Growth Grant (BGG) Scheme. The Grant Scheme has received over 250 applications so far and aims to foster the continued growth of Singapore-based FinTech companies and help offset their proof-of-concept costs; and it is still open for application.
Through this collaboration, SFA and AMTD will tap on each other’s ecosystem, network and resources, in response to the growing needs of Singapore’s FinTech community to connect beyond Singapore and enjoy better access to global capital markets.
About Singapore FinTech Association (SFA)
The SFA is a cross-industry and non-profit organisation. Its purpose is to support the development of the FinTech industry in Singapore, and to facilitate collaboration among the participants and stakeholders of the FinTech ecosystem in Singapore. The SFA is a member-based organisation with over 720+ members. It represents the full range of stakeholders in the FinTech industry, from early-stage innovative companies to large financial players and service providers.
To further its purpose, the SFA also partners with institutions and associations from Singapore and globally to cooperate on initiatives relating to the FinTech industry. The SFA has signed over 50 international Memorandum of Understanding (MoU) and are the first U Associate organisation to be affiliated with National Trades Union Congress (NTUC). Through their FinTech Talent (FT) Programme, launched in 2017, over 300 professionals have been trained in FinTech, including blockchain & cryptocurrency, cybersecurity and regulation.
About AMTD Group
AMTD Group is a leading comprehensive financial services conglomerate, with businesses in investment banking, asset management, digital financial solutions; and non-financial services areas including strategic investments, real estate and education.
AMTD International (NYSE: HKIB; SGX: HKB), a subsidiary of AMTD Group, comprises the largest independent investment bank in Asia and one of Asia’s largest independent asset management companies, and has been a leading investor in FinTech and new economy sector. AMTD International successfully listed on the New York Stock Exchange in 2019, representing the first Hong Kong headquartered financial institution listed on NYSE. On April 8, 2020, AMTD International completed its successful listing on SGX-ST, which marks a series of historical milestones, including:
- The first company ever to be dual listed on NYSE and SGX;
- The first company featuring dual-class shares (DCS) listed on SGX;
- The largest financial institution headquartered in China and Hong Kong listed on SGX as measured by market capitalisation;
- The first Hong Kong financial institution listed on SGX;
- The largest company in terms of market capitalisation listed in Singapore year to date; and
- The first company to conduct a digital listing ceremony in Singapore.
AMTD Digital, the digital solutions arm of AMTD Group headquartered in Singapore, covering digital financial services, digital media marketing and data intelligence, digital connectors and ecosystem, and digital investments. AMTD Digital aims to build a one-stop, comprehensive, cross-market, and innovative digital financial services platform.
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