On 22nd October and 24th October 2016, the Monetary Authority of Singapore has signed FinTech Cooperation agreements with both the Government of Andhra Pradesh and the Korean Financial Services Commission (KSFC) respectively.
Under the agreement with the Government of Andhra Pradesh, both parties agree to explore joint innovation projects on technologies such as digital payments and block chain, and collaborate on the development of education programmes/curricla on FinTech.
The agreement between MAS and KFSC provides a framework for cooperation in FinTech between Singapore and South Korea. MAS and KSFC will explore potential joint innovation projects on technologies such as big data and mobile payments.
Singapore has previously announced its ambition to be a Smart Nation and the Financial Sector is an integral part to this plan. MAS seeks to create a Smart Financial Centre where technology is used pervasively in the financial industry.
