Internet giant Tencent has partnered the Asian Institute of Digital Finance (AIDF) to spur more FinTech innovations in Asia.
Asia has grown into one of the innovation hotspots of the FinTech revolution, and is the global leader in FinTech adoption, according to the latest EY Global FinTech Adoption Index survey. It was also revealed that consumer usage rates of FinTech-powered services have doubled across key Asia markets in the past two years
To help drive more FinTech innovations and support the region’s fast-growing digital finance industry, Tencent Financial Technology (FiT) and AIDF will collaborate in the areas of research, education, and entrepreneurship.
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Besides organising industry events and bespoke training programs, the areas of collaboration will also include:
- Expanding knowledge expertise in FinTech Research: Tencent FiT and AIDF will conduct research into deep-tech solutions that will address real-world problems. The research will focus on areas such as cross-border payment for the continued growth of the industry and the benefits of the society.
- Developing the FinTech talent pool in Singapore: Tencent FiT and AIDF will offer curated training and development initiatives for employees as well as internship programmes for AIDF’s students.
- Driving innovations in Asia’s FinTech scene: An annual research challenge competition will be jointly launched for AIDF students and participating fintech start-ups under the AIDF incubator programme.
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“The joint initiatives with Tencent are meant to nurture the next generation of FinTech leaders and contributors in the region with both technical knowledge and industry expertise. The collaboration will also help advance cutting-edge digital financial technologies, pushing Asia's FinTech frontier forward,” says Duan Jin-Chuan, executive director of Asian Institute of Digital Finance, National University of Singapore.
AIDF is an institute within the National University of Singapore (NUS) that is jointly founded by The Monetary Authority of Singapore (MAS), the National Research Foundation (NRF) and NUS.
Photo: Unsplash
