The agreement provides a framework for fintech companies in Singapore and Switzerland to expedite initial discussions on introducing new techology solutions in each other’s market.
It will help firms to understand regulatory requirements, reducing uncertainty and the time-to-market for new fintech solutions.
The agreement is intended to create opportunities for fintech businesses from Singapore and Switzerland to expand into each other’s markets.
Finma and Mas have also committed to share information about emerging fintech trends and regulatory issues pertaining to innovation.
Each authority will also provide fintech innovators from each other’s jurisdictions with the same level of support it provides to local firms.