Singapore signs fintech agreement with Switzerland

Added 12th September 2016

The Monetary Authority of Singapore (Mas) and the Swiss Financial Market Supervisory Authority (Finma) signed a cooperation agreement on Monday to foster greater cooperation on fintech.

Singapore signs fintech agreement with Switzerland

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. 

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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