World Focus

Switzerland announces intent to promote Local FinTechs in Foreign Markets

Switzerland Global Enterprise and the Swiss Business Hub for the ASEAN region have revealed their intent to promote 30 domestic FinTech firms in the Singapore market.

The endeavor, which will be the third engagement with the Singapore FinTech Festival undertaken by Switzerland Global Enterprise, is being carried out with the hope to promote the innovative solutions and offerings being developed by Swiss FinTechs, according to a report by Crowdfund Insider.

The Swiss Business Hub for ASEAN was established as part of the Embassy of Switzerland in Singapore to foster exports and investments into Swiss companies more proactively. It is one of 22 hubs created globally, which allow Switzerland Global Enterprise to inform, advise and guide Small-to-Medium domestic enterprises as they pursue international business ventures, providing connections to companies, experts and private and public organisations around the world.

Of the Swiss FinTech companies being promoted in the “Swiss Pavilion”, the areas being covered are said to include trading, cybersecurity, big data, RegTech allowing the management of regulatory processes, amongst others. The “Swiss Pavilion” is to be one of the larger nation-specific areas, with several other region-specific pavilions to be present at the event.

Organised annually by the Monetary Authority of Singapore, the Singapore FinTech Festival was attended by over 40,000 delegates in 2018 from 130 counties. The event is partnered by The Association of Banks in Singapore, and is hosted in collaboration with SingEx Holdings.

Switzerland is reported to have over 1,000 FinTech firms, with a significant percentage working to develop Blockchain solutions and offerings.