The Fintech Bridge builds on an agreement signed in 2016 – which will remove barriers to fintech trade by opening new regular talks between regulators and businesses, in addition to previous areas of cooperation
This will increase the cooperation and sharing of information on emerging trends in the fintech sector. It will also break down barriers to trade for UK and Singaporean fintechs, boosting growth and investment opportunities.
The UK and Singapore are two of the world’s most dynamic and innovative FinTech markets. The FinTech Bridge will drive exciting new opportunities and greater alignment of regulatory approaches will help with the expansion of FinTechs from the UK and Singapore into each other’s markets. Greater cooperation between government, regulators and industry will boost innovation and drive better outcomes for customers.
The existing Regulatory Cooperation Agreement signed in 2016 has enabled the UK and Singaporean fintech sectors to closely align at a regulatory level. The commitment goes further in several areas, making clear the business support available to firms, highlight opportunities in each other’s markets and creating a clear link between challenges firms face and policy discussions.