Singapore FinTech Association, Hong Kong’s AMTD Group join forces to boost Singapore’s fintech community
By Digital News Asia July 15, 2020
- SFA becomes permanent AMTD Strategic Honorary Member; AMTD a SFA partner
- Jointly establishing the AMTD SFA Global FinTech Fellowship Programme
Singapore FinTech Association (SFA) and Hong Kong headquartered financial services conglomerate AMTD Group has signed a strategic collaboration on 13 July with the aim of supporting Singapore’s fintech community.
Through this collaboration, SFA will become a permanent strategic honorary member of AMTD’s SpiderNet ecosystem, with AMTD in turn becoming a strategic partner of SFA. Both entities are committed to connecting their ecosystems to maximise the synergies of their respective members and empowering cross-regional and cross-industry opportunities.
The entities will also jointly establish a Fellowship Programme in Singapore.
“As Singapore’s FinTech ecosystem continues to grow and mature, SFA strives to collaborate with strong ecosystem players to empower our community. We are glad that AMTD and SFA share the same vision and can bring our partnership to a new level,” says SFA president Chia Hock Lai.
Adding to that, AMTD’s chairman and CEO Calvin Choi says: “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 startups to expand from Singapore and apply their technology in and learn from partners in other markets.”
Choi expects the strategic partnership between AMTD and SFA to leverage on AMTD’s strong foundation in the Greater Bay Area coupled with connectivity to global markets, and further enable Singapore’s fintech startups to connect outside of Southeast Asia.
The Fellowship Programme
SFA and AMTD will jointly establish an AMTD SFA Global FinTech Fellowship Programme which will select, annually, up to 10 outstanding fintech entrepreneurs in Singapore, with the most influential social impact and 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 support to help navigate challenging times.
Upon graduation from this five-year programme, the entrepreneurs will automatically become a permanent member of AMTD Global FinTech Leadership Club. “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,” Chia comments.
Choi meanwhile expects the programme to empower and enable fintech entrepreneurs to contribute to Singapore’s competitiveness as one of the most vibrant fintech centres in the world.
This partnership builds on SFA’s collaboration with AMTD in the US$4.3 million (S$6 million) (MAS-SFA-AMTD Solidarity Grant, in which SFA acts as the fund administrator of the Business Growth Grant 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. It is still open for application.