Australia's FinTech Stars Shine at Singapore Festival
The 2023 Singapore FinTech Festival, held from 11 to 13 October, saw significant Australian involvement, with Austrade leading the charge. The event attracted nearly 40 Australian companies and over 66,000 participants from 150 countries. Beforepay, a Sydney-based pay-on-demand service, showcased its next-generation platform, boasting enhanced capabilities and predictive features. Meanwhile, Austrade hosted a pavilion, launched by Australian High Commissioner Allaster Cox, facilitating connections between Australian companies and international attendees. Austrade's presence aligned with Australia's broader economic and trade interests in the Asia Pacific. This isn't the first time Austrade has led such an initiative, having participated in last year's festival. During the event, Austrade signed a memorandum of understanding with Fintech Alliance.ph to promote trade and investment in the fintech sector across the region. Mukund Narayanamurti, Austrade's general manager in Southeast Asia, expressed enthusiasm for advancing Australia's partnerships with the financial services sector in the Philippines. Additionally, the Korea Fintech Industry Association (KORFIN) and FinTech Australia signed a memorandum of understanding to strengthen cooperation between Australia and South Korea in fintech-related opportunities. Iotasol, a Victoria-based software development company, launched a new application for improving event experiences through 'voucher hunts' at the festival. EzyRemit, an Australian remittance company, also announced a new partnership with Faspay, an Indonesian payment gateway company, to establish a comprehensive financial ecosystem. The 2023 Singapore FinTech Festival provided a significant platform for Australian fintech companies to connect with regional opportunities. Austrade's efforts, along with the memorandums of understanding signed, are expected to foster further growth and cooperation in the Asia Pacific's fintech sector.
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