Asia FinTech Alliance (AFA) was officially launched at the Singapore FinTech Festival (SFF) 2023 on 16 November. A Memorandum of Understanding (MOU) was inked by 10 AFA association members, including the Singapore Fintech Association, Elevandi Japan, Korea Fintech Industry Association, Fintech Alliance.Ph, Taiwan FinTech Association, Asosiasi Fintech Indonesia, Thai Fintech Association, Fintech Association of Malaysia, Fintech Association of Hong Kong, and Mongolian Fintech Association.
“Collaboration is the nucleus of progress. We are proud to be a part of the Asia FinTech Alliance, a pioneering and innovative force uniting 10 esteemed FinTech associations. With this synergy, the potential for financial transformation is boundless, and we are poised to redefine the future of sustainable and inclusive digital finance in Asia.” Lito Villanueva, Fintech Alliance Ph. Founding Chairman.
“Today marks a symbolic commencement. AFA has the potential to harness the collective strength of Asia and drive the next wave of the FinTech boom,” said Jaclyn Tsai, Honorary Chairwoman of the Taiwan FinTech Association. “Taiwan takes pride in being part of this endeavor and we vow to be a trustworthy and responsible ally to AFA.”
Under the MOU, the 10 association members agree to jointly promote financial inclusion, digital payments, developments of financial technology, and financial literacy in Asia. The inception of the AFA, a member-driven, independent, and collaborative organization, is driven by the imperative to foster enhanced cooperation and build a strong FinTech ecosystem where everyone can benefit.
“It is with great excitement that we join the Asia FinTech Alliance, alongside representatives from ten key countries across the Asian region. As President of the Korea Fintech Industry Association, I am optimistic about the synergies for the effective outcomes that we can achieve by closely sharing insights. Each country brings a wealth of successful digital innovations and use cases, and by pooling our knowledge, we stand to make significant advancements in the fintech sectors.” Keunju Lee, President at Korea Fintech Industry Association.
“I am honored to join the Asia FinTech Alliance and represent the FinTech industry in this important initiative. The FinTech industry is at the forefront of innovation, and we are committed to working with the 10 esteemed FinTech associations to foster a collaborative environment that promotes responsible and sustainable growth,“ said Byambasuren Myagmartseren, CEO at Mongolia Fintech Association. ”Together, we can shape the future of finance and ensure that it benefits everyone.”
AFA envisions a future where its joint effort becomes one of the major driving forces behind groundbreaking advancements in the FinTech landscape of Asia. With the combined strengths of the 10 esteemed association members, AFA is geared to contribute to positive financial transformation with the most advanced technologies that not only bring uplifting change to economies but also enhance the lives of people across the region.
AFA invites all like-minded partners and FinTech enthusiasts to participate in its initiative, deepening collaboration and igniting excellence in FinTech. Together, we stand at the forefront of a new era in finance and the potential is as limitless as our collective imagination.