Singapore FinTech Association establishes RegTech Sub-Committee

Source: Singapore FinTech Association

Singapore FinTech Association (SFA) announced yesterday the launch of the SFA RegTech Sub-Committee.

The Sub-Committee aims to promote the invention and adoption of technologies to overcome regulatory challenges in Singapore.

The Sub-Committee was launched at an event held at 80RR FinTech Hub SG. Li Xuchun, Deputy Director and Head of the Supervisory Technology Office of the Data Analytics Group at the Monetary Authority of Singapore (MAS) delivered the keynote address at the event.

The launch of the RegTech Sub-Committee was witnessed by Chia Hock Lai, President, SFA who said, “SFA is really excited to launch the RegTech Sub-Committee. As the FinTech ecosystem broadens regionally, we believe that its stakeholders will greatly benefit from the initiatives by the RegTech Sub-Committee. The SFA RegTech Sub-Committee marks our dedication to facilitate and enable FinTech stakeholders in Singapore.”

The RegTech Sub-Committee is chaired by Chionh Chye Kit, CEO & Co-Founder, Cypnosis Solutions Pte Ltd, Traceto.io Pte Ltd, who commented, “I am very honoured to be spearheading the RegTech Sub-Committee and engage with stakeholders of the FinTech ecosystem in Singapore.

The launch also consisted of a panel discussion regarding the future state of Compliance and application of RegTech in Singapore’s fast-growing FinTech environment. Moderated by Rolf Haudenschild, Co-Founder and Head of Regulatory & Risk Services, Ingenia Consultants, the panel discussion featured prominent figures including Chew Chin Yee, SVP, SGX Head of Regulatory Development and Policy.

To demonstrate better engagement with the RegTech ecosystem in the region and in conjunction with the Sub-Committee launch, SFA is proud to announce that a Memorandum of Understanding has been signed with the Australia-based The RegTech Association. In addition, this Sub-Committee will also be working collaboratively with other similar Sub-Committees of FinTech associations to promote the application of RegTech solutions starting with FinTech Association of Hong Kong and FinTech Association of Japan.

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