FinTech Indonesia signs collaboration agreement with FinTech Australia

The peak financial technology (fintech) industry bodies in Indonesia and Australia have signed a landmark agreement to help drive exchanges of talent and expertise between the two growing fintech markets.

Signed in December, the memorandum of understanding between FinTech Australia and FinTech Indonesia is regarded as an important step to drive the mutual development and growth of fintech industries across both jurisdictions.

The agreement was witnessed by Fithri Hadi, the Director of Financial Innovation from Indonesian Financial Service Authority (OJK) and Dan Thomas, Vice Chair of the Australian Department of Foreign Affairs and Trade.

The agreement provides a platform to facilitate cross-border exchanges of talent, technology and capital and fintech company market entries into both countries.

In particular, the agreement commits both parties to work towards establishing:

• A pathway to allow the Australian fintech community, including Indonesians currently working in Australia, to build partnerships and solve various challenges in Indonesia.
• Internships and work opportunities for Indonesian developers in Australia
• The sharing of knowledge, data and information particularly in the fields of risk management, cyber security, data infrastructure, artificial intelligence and regtech to help support both ecosystems.
• An environment where fintech hubs are the focal points of contact in each country, in particular to promote increased capital flows between the countries.
• Exchanging member directory information across both jurisdictions to facilitate fintech businesses finding suitable partners across both markets.

“The signing of this agreement is an exciting event which illustrates the growing fintech bonds between our two countries,” said FinTech Australia Vice Chair Stuart Stoyan.

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Source: FinTech Indonesia signs collaboration agreement with FinTech Australia – Finextra