SFA collaborates with AMTD to support local fintech industry

They will jointly establish a five-year fellowship programme for the most innovative fintechs.

Singapore Fintech Association (SFA) has signed a strategic collaboration agreement with AMTD Group with the goal of maintaining Singapore’s leadership as one of the most “energetic, sustainable” fintech ecosystems, according to a joint press release.

Through the collaboration, SFA will become a permanent strategic honorary member of AMTD’s SpiderNet ecosystem whilst AMTD will become a strategic partner of SFA.

In particular, the collaboration will see the establishment of the AMTD SFA Global Fintech Fellowship Programme in Singapore, which will admit winners in a five-year programme that will boost their global connectivity.

Under the programme, 10 fintech entrepreneurs with “the most influential social impact and best vision” will be selected for a five year programme that will connect them to a global fintech community including those in Hong Kong, Greater Bay Area, Middle East, Europe and North America through various events initiated by AMTD and SFA.

Upon graduation from the programme, the entrepreneurs will automatically become a permanent member of AMTD Global FinTech Leadership Club, they added.

“There are growing needs from local fintech start-ups to expand outside of Singapore and apply their technology in and learn from partners in other markets. The strategic partnership between AMTD and SFA would leverage on AMTD’s strong foundation in the Greater Bay Area and connectivity with the global markets, and further enable Singapore’s FinTech start-ups to connect outside of Southeast Asia,” said Calvin Choi, AMTD’s chairman and CEO.

The partnership also builds on the MAS-SFA-AMTD Solidarity Grant, which aims to foster the continued growth of Singapore-based fintech companies and help offset their proof-of-concept costs. The latter has received 250 submissions so far and is still open for application.