24 August 2017
Visit http://response.ncr.com

Singapore and Denmark sign fintech pact

29 June 2017  |  5196 views  |  0 Source: Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) and the Danish Financial Supervisory Authority (Danish FSA) yesterday signed a FinTech Co-operation Agreement which aims to help FinTech companies in Singapore and Denmark to expand into each other’s markets.

The agreement will enable both regulators to refer FinTech companies to their counterparts. MAS and the Danish FSA have also committed to exploring joint innovation projects together, and to share information on emerging market trends and their impact on regulation.

The agreement was signed at the sidelines of the Money 20/20 Europe conference in Copenhagen. Singapore will also host the inaugural Money 20/20 Asia conference in March next year.

Sopnendu Mohanty, Chief FinTech Officer, MAS, said: “Singapore and Denmark are important gateways to their surrounding regions. This cooperation agreement signifies the commitment of MAS and Danish FSA to promoting innovation in financial services and growing the FinTech landscape. We look forward to closer interactions between our respective FinTech ecosystems and more opportunities for our businesses to grow, expand and serve customers in each other’s markets.”

Thomas Brenøe, Deputy Director General, Danish FSA, said: “The FSA is committed to encourage innovation in the financial sector. We are currently establishing a FinTech Lab to support the development of fintechs and provide assistance for these to set up business in Denmark. Financial innovation is not confined to national borders, and we are therefore delighted to enter into this agreement with MAS. This agreement will ensure cooperation between the Danish FSA and MAS and will foster opportunity for businesses in Denmark and Singapore to grow.” Brian Mikkelsen, Danish Minister of Industry, Business and Financial Affairs added: “I am very happy that Denmark and Singapore have been able to join forces in this agreement. I am sure that this will help many FinTech companies and create an even better growth environment for these companies in both Singapore and Denmark.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comdownload the paper nowvisit www.niceactimize.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
21078 views comments | 43 tweets | 88 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
12063 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11402 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11201 views comments | 10 tweets | 8 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10879 views 0 | 7 tweets | 1 linkedin

Featured job

Find your next job