The Swiss Finance + Technology Association has signed a Memorandum of Understanding with the Fintech Association of Hong Kong (FTAHK). This further strengthens the collaboration between Asia and Europe. In practice this means that the two organisations will join each others’ events and they will exchange knowledge about the market and regulation. New opportunities for start-ups and investors of both countries will be created.
In my first post, I wrote about how we are constantly hearing buzz around the ‘war being over’ between FinTechs and banks. The case for symbiosis and coopetition over competition between the Davids and Goliaths is certainly strong; so strong that 82% of banks, insurers, and asset managers are planning on increasing FinTech partnerships over the next three years (PwC, 2017). That said, I also questioned the success of FinTech-bank partnerships in delivering true value for the bank, the start-up, and/or the customer.
There is no denying that there have been some highly successful partnerships to date. However, there is also no hiding from the fact that many of the ‘partnerships’ we hear about have been used to drive marketing and PR efforts while many have simply not delivered the intended value and have been brushed under the carpet.
Below you find an article about Fintech Ecosystems and the use and abuse of vegetational concepts. It can take some seconds to load as it has interactive charts in it.
The Swiss FinTech Pitch, was held on Wednesday, October 11, at Landesmuseum in Zurich. Over 100 insiders attended the event to see Oliver Werneyer of IMburse take top place among entrepreneurs and Ralph Mogicato from SICTIC winning in the investor category.
On September 26 we had a great event in the Nietturm Bar with senior representatives from Abu Dhabi Global Market. Steve Barnett and Thomas Hirschi presented their organisation and explained the FinTech Regulatory Laboratory (RegLab). The audience was very interested in the FinTech ecosystem in Abu Dhabi and there were many questions in the end.
The Swiss Finance + Technology Association (SFTA) has signed a Memorandum of Understanding with the Singapore FinTech Association (SFA). This means that the two organizations will work closer together in the future to improve financial innovation in both markets. In a first step, a delegation from SFTA will visit the Singapore FinTech Festival in November. Beyond this, further collaboration is planned to create new connections and share knowledge between the FinTech ecosystems of Switzerland and Singapore.
Swiss Fintech + Technology Association now partners with Abu Dhabi Global Market (ADGM) to improve innovation and create new opportunities. John Hucker, the president of SFTA and Richard Teng, Chief Executive Officer Financial Services Regulatory Authority of ADGM, sealed this promising agreement in August 2017. For Swiss FinTech companies, this is a good opportunity to gain new insights and ease market entry.
FinTech has not only topped the buzzword list for at least the last three years but has also attracted huge levels of investment (peaking at US$19BN in 2015) from both Venture Capital funds and corporates. Over the course of 2017 however, levels of investment in the sector have slowed and, in some geographies, decreased by as much as 22% (Q1 2017 vs. Q1 2016).