Austrade Boosts Australia's Fintech Presence in Asia Pacific at Singapore Festival
Austrade, Australia's trade promotion agency, made significant strides in the Asia Pacific's fintech sector during the 2023 Singapore FinTech Festival. The agency signed strategic partnerships, launched initiatives, and showcased Australian fintech companies, aligning with Australia's broader economic and trade interests in the region.
The festival saw Austrade sign two key memorandums of understanding (MoUs). Firstly, Austrade partnered with Fintech Alliance.ph to promote trade and investment in the Asia Pacific's fintech sector and enhance bilateral cooperation with the Philippines. Secondly, Austrade collaborated with the Korea Fintech Industry Association (KORFIN) to strengthen cooperation between Australia and South Korea in fintech.
Austrade's general manager in Southeast Asia, Mukund Narayanamurti, praised the Philippines as a dynamic and exciting market for fintech cooperation. Meanwhile, the agency hosted a pavilion at the event, connecting nearly 40 Australian companies with 66,000 participants from 150 countries. This effort was launched by Australian High Commissioner Allaster Cox.
The festival also witnessed innovative launches from Australian companies. Beforepay, a Sydney-based 'pay-on-demand' service, unveiled its next-generation platform, boasting enhanced capabilities and upgraded predictive features. Additionally, Iotasol, a Victoria-based software development company, launched a new application for improving event experiences through 'voucher hunts'.
Austrade's initiatives align with its ongoing efforts to raise awareness about Australian fintech companies. The agency has previously led similar initiatives at the Singapore FinTech Festival.
The 2023 Singapore FinTech Festival marked a significant milestone for Austrade in promoting Australian fintech companies and fostering international cooperation. Through strategic partnerships and innovative launches, Austrade has strengthened Australia's position in the Asia Pacific's dynamic fintech sector.
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