MAS, World Bank unit to work on greater Asean access for S'pore fintechs

Singapore

NEW paths are emerging for Singapore-based fintech (financial technology) firms to distribute their services to the Asean region following a partnership agreement signed between the Monetary Authority of Singapore and a member organisation of the World Bank.

MAS and the International Finance Corporation, a member of the World Bank, said on Tuesday that they will partner to bring about a broader adoption of fintech innovation in Asean.

Both parties plan to build an Asean financial innovation network (AFIN) under a memorandum of cooperation. This emerged from discussions among IFC, MAS and the Asean Bankers Association (…