Singapore, India ink collaboration to develop fintech industry – Press Release
Singapore Fintech Association (SFA) and the Federation of Indian Chambers of Commerce and Industry (FICCI) today signed a partnership agreement to share information about the fintech industry and collaborate on mutually beneficial initiatives that would further the development of fintech industry in both countries.
The agreement was signed at the opening ceremony of the first-ever Singapore Pavilion at the Singapore FinTech Festival 2019; it was witnessed by His Excellency Jawed Ashraf, High Commissioner of India to Singapore.
“In recent years, India has been a country that is spearheading many fintech initiatives and advancements with a global impact. On the other hand, Singapore has also been a very good bedrock for fintechs, with supportive frameworks in place for them to grow and establish themselves in the region,” Chia Hock Lai, President of SFA, commented in a statement.
“As Singapore’s fintech ecosystem continues to grow, we look forward to collaborating for the betterment of the fintech industry in both countries. We are glad that both Singapore and India fintechs would be able to leverage on such industry-level partnerships,” he continued.
MAS, Temasek develop blockchain-based prototype for multi-currency payments – Dealstreet Asia
The Monetary Authority of Singapore (MAS), Temasek Holdings, and J.P. Morgan have developed a blockchain-based prototype allowing payments to be made in multiple currencies on the same network, Dealstreet Asia reported.
According to the report, the prototype is currently undergoing industry testing to determine its ability to integrate with commercial blockchain applications. It will provide interfaces for other blockchain networks to connect and integrate seamlessly.
Also Read: No, Singapore seed stage is not dead
Indonesian digital payments platform Achiko Limited gets listed in Swiss – Tech In Asia Indonesia
Achiko Limited, a digital payments service provider, debuted its shares on the Swiss Exchange (SIX) on November 8, Tech In Asia Indonesia reported.
The company issued 89.63 million shares for the price of US$0.7 per shares.
“Swiss is an excellent market and is growing rapidly in fintech innovation, with supportive environment and regulation. We plan to open a local branch in Swiss to support strategic partnerships in Europe,” said Achiko Chairman Allen Wu.
MNC Group-affiliated Achiko Limited is a parent company of Mimopay and Kryptonite, a company with presence in Indonesia, Hong Kong, Singapore, and South Korea.
Founded in 2012, Mimopay focusses on the gamers segment.
US-based AVO to acquire India-based Techment Technology’s Transassured platform – Press Release
Techment Technology, an India-based provider of software and product development services, today announced that US-based AVO Transportation and Language Solutions (AVO) will acquire their proprietary insurtech product Transassured.
Transassured automates critical tasks for companies operating in the Workers’ Compensation Insurance (WCI) segment.
It has been deployed at AVO as a pilot for more than a year.
According to the company, the association with AVO has helped Techment further refine the product and make it more market-ready.
“We are proud to say that the technology team of our company, based in Bhilai, has developed an innovative automation based product that is capable of disrupting US market. This clearly showcases how Tier 2 and Tier 3 cities in India are emerging as innovation hubs. Smaller towns are rapidly catching up with the metros in terms of opportunities and skill set. Now, one does not necessarily need to shift to a bigger city in order to fulfil their dreams,” said Techment CEO Manish Agrawal.
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