S'pore, Switzerland to enhance cooperation on fintech

THE Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (Finma) have inked a cooperation agreement to work more closely together on fintech.

The cooperation pact between MAS and Finma provides a framework for innovative fintech companies in both countries to expedite initial discussions on introducing new fintech solutions in each other's market and understand regulatory requirements, MAS said in a release on Monday.

This will help to curb regulatory uncertainty and the time-to-market for new fintech solutions.