Nine New MoU Signings: LHoFT is Leading The FinTech Collaborations

On the 24th of April, amidst the bustling atmosphere of Money20/20 Asia in Bangkok, The Luxembourg House of Financial Technology (LHoFT) orchestrated a remarkable display of collaboration. Against the backdrop of this prestigious event, nine Memoranda of Understanding (MoUs) were signed, symbolising a pivotal moment in the evolution of fintech within the region.

Driving Collaboration Through Nine MoU Signings

The day served as a testament to LHoFT’s unwavering dedication to nurturing collaboration and innovation throughout Southeast Asia, led by Nasir Zubairi, the CEO of the LHoFT Foundation. Through these MoU signings, LHoFT solidified its alliances with crucial FinTech associations in the region, including the Cambodian Association of Finance and Technology, Asosiasi FinTech Indonesia, FinTech Association of Malaysia, Fintech Philippines Association, Thai Fintech Association, and Vietnam Fintech Festival. This monumental agreement aimed to empower fintech startups by facilitating international conferences and workshops and, crucially, fostering collaboration on technology research and development.

List of Representatives

Here is the list of associations and organisations that signed MoUs with LHoFT with the representative’s name:

• Remi Pell, Board Chairmen of the Cambodian Association of Finance and Technology

• Aries Setiadi, Executive Director of the Indonesia FinTech Association

• Farah Jaafar, Vice President of the Fintech Association of Malaysia

• Amor Maclang, Executive Director of the Fintech Philippines Association

• Chonladet Khemarattana, President of the Thai Fintech Association

• Nicole Nguyen, Founder of the Vietnam Fintech Summit

• Sarah Corley, CEO of the Alliance of Digital Finance and Fintech Associations

• Nuttapon Nimmanphatcharin, President and CEO of DEPA

• Oranuch Lerdsuwankij, Co-Founder and CEO of Techsauce

Guiding Startups to Success Through Mentorship

But the impact of LHoFT’s endeavours transcended mere signatures on paper. Day 2 at Money20/20 Asia saw insightful discussions and collaborative sessions under the banner of Catapult: Financial Inclusion Southeast Asia. Here, startups received invaluable guidance and mentorship, equipping them with the tools to navigate the intricate terrain of the fintech industry. One participant noted, “Insightful discussions, collaborative sessions, and expert mentoring marked the day while exploring the latest #FintechTrends and #Innovations.”

Alex Panican on ASEAN Fintech Collaboration

Alex Panican, Deputy CEO at LHoFT, emphasised the importance of the MoUs, stating, “The Goal of the MoUs is to foster collaboration within the ASEAN region between Fintech associations.” Additionally, he outlined the program’s key components, highlighting its focus on “Impact, Scaleability and Funding” as its three pillars.

Empowering Financial Inclusion Across Southeast Asia

The drive towards financial inclusion is central to LHoFT’s mission—a theme that resonated deeply throughout the day’s proceedings. Through use-case presentations and expert sessions, stakeholders delved into the transformative power of fintech in driving positive change across the region. With a focus on innovation and development, LHoFT is positioned as a catalyst for shaping the future of financial services in Luxembourg and Southeast Asia.

Forging Strategic Partnerships for Sustainable Growth

The significance of this initiative lies in its ability to connect and create value across the entire financial ecosystem. From financial institutions to fintech startups and academia to regulatory bodies, LHoFT is a nexus for collaboration and progress. As outlined by its founding partners—industry giants such as BGL BNP Paribas, Clearstream, and KPMG—LHoFT’s vision is inclusive growth and sustainable innovation.

Moreover, LHoFT’s strategic partnerships, including with the Luxembourg Chamber of Commerce and the University of Luxembourg, underscore a commitment to cross-sectoral cooperation. This holistic approach ensures that the benefits of fintech innovation are felt across society, driving economic growth and prosperity.

Conclusion

In summary, the nine Memoranda of Understanding (MoUs) inked by LHoFT at Money20/20 Asia represent a notable stride towards cultivating collaboration and innovation within the fintech sector. With a focus on empowering startups and driving positive change, these agreements signify a collective effort to shape the future of financial services in the region. As LHoFT continues to forge partnerships and facilitate dialogue, it paves the way for a more interconnected and prosperous fintech ecosystem.