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New Zealand joins ASEAN FinTech community

At the start of the week long FinTech Festival in Singapore, FinTechNZ participated in the launch of the ASEAN FinTech Network.  The event was hosted by Singapore FinTech Association (SFA).  Our Kiwi group of businesses were there alongside 300 other attendees from Asia and other parts of the world.  Part of our group also included the Ministry of Business, Innovation and Employment (MBIE) and New Zealand Trade and Enterprise (NZTE), both of whom have been actively supporting our tech communities to grow in New Zealand and to engage overseas.

The ASEAN FinTech Network was initially founded by the national FinTech associations of Singapore, Indonesia, Malaysia, Philippines, Thailand and Vietnam.  This new community brings together FinTech innovators from across the region to focus on the challenges and opportunities facing the regional economy.  It provides a neutral and open platform for collaboration and knowledge sharing in today’s fast-changing environment.  Through establishing our working relationship with SFA earlier in the year, New Zealand was invited to participate in the launch event and to be part of the new community in the region.

Here are the key messages we have shared with people and countries at the event:

  • FinTech is currently growing at 48.5% per annum in NZ.
  • Our innovations and innovators span banking, insurance, finance, wealth management, capital markets, covering payments, lending, investment, financial literacy, financial inclusion, and also regulatory compliance for AML and KYC.
  • FinTechNZ is only just over nine months old and we already have nearly 100 founding members.
  • Our members include financial service providers, tech companies and innovators, industry associations, and government entities.
  • Like Singapore, New Zealand has a small population, but we have nearly 29,000 tech companies – many innovate for the global market.
  • We have a diverse and world class ecosystem for tech innovation, actively led by industry and strongly supported by Government.
  • We don’t have to lobby for regulatory support for FinTech, as our Government is a member of our FinTech community actively engaging with the sector in a flexible approach to policy making.
  • New Zealand is ranked #1 globally for ease of starting and doing business.  We are also the most transparent and least corrupt.
  • New Zealand ranks third on the global creativity index.
  • New Zealand is placed fifth in the world for financial literacy.
  • New Zealand has been active in the ASEAN region for a long time across many major sectors.  We are now rapidly growing and deepening our relationships and engagement in the region’s digital future with our strong tech sector.
  • We are here not just to trade with, but more importantly to be part of the region’s new wave of innovation and innovators.
  • Dozens of FinTech participants from New Zealand are here for the festival in Singapore. We invite you to connect, engage and collaborate with us. We want to make a real difference to the region and be part of the change that is taking place here.

FinTechNZ has a stand at the Singapore FinTech Conference till Thursday, proudly supported by NZTE. Come and meet us and some of our members at Stand 2k06.

Photo:  FinTechNZ’s Mitchell Pham, James Brown, Binu Paul with Rachel Paris

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FinTechNZ Disruptive technologies are revolutionising traditional financial services, creating opportunities for start up entrepreneurs and corporate innovators. FinTechNZ helps connect, promote and advance the trends shaping the FinTech ecosystem.