How OpenPayd, Nikulipe Credify, and Other Fintech Association Members Really Feel About Their Membership.

When it comes to fintech, no man is an island, and in the quest for a better world powered by better financial services, it is obvious that working together means advancing together. We’ll be exploring every facet of what it takes to be a fintech ecosystem in September. We have devoted the whole month to examining what constitutes a strong fintech ecosystem, how fintech may collaborate more successfully, and offering a regional perspective on some of the greatest instances of community engagement in the sector.

We are in direct competition with global fintech hubs and membership groups during our third week of coverage of fintech ecosystems, which is the overarching subject of our September emphasis.

Numerous associations representing a wide range of interests and with various goals are scattered across the sector. Being a member of a fintech organization is a crucial component of the fintech ecosystem itself, thus we encourage fintech from all backgrounds to contribute their own experiences.

Asia’s integrated finance

For conventional financial institutions and online markets, Credify specializes in enterprise systems that enable embedded finance. The business has operations in Japan and Vietnam and creates enterprise solutions with an emphasis on embedded finance and digital identification.

The Singapore-based fintech organization decided to become a member of both the Singapore Fintech Association (SFA) and the Fintech Association of Japan because one of its subsidiaries is established in Japan (FAJ).

According to Credify’s chief financial officer, Maurizio Raffone, membership in the two organizations has benefited both the company and its management team.

The SFA is highly innovative and proactive, he claims. The SFA, for instance, administers the Fintech Certificate Program, which sets certified fintech businesses apart from other members and fintech in the marketplace.

Raffone states that the business had this certificate when the program first began.

The certificate is accepted by the Monetary Authority of Singapore (MAS), and it serves as a baseline requirement for receiving a portion of the Covid-19 Support Package’s financial assistance.

Raddone says, “The SFA is a steadfast supporter of innovation and the free exchange of ideas among its members and with the larger financial, technological, and regulatory sector. At Credify, regular events—both in person and online—have made it easier for us to remain up to date on industry trends and build relationships with other professionals.

The business has consistently taken part in a number of FAJ initiatives in Japan, including community gatherings that host working groups on important fintech subsectors, interests, and market trends.

The FAJ’s efforts, he continues, “have been particularly significant in maintaining continuity of the conversation between fintech and financial institutions in areas of open innovation, such as digital identification and embedded finance, which are core functions for Credify, during the Covid epidemic.”

“Overall, Credify’s membership in the SFA and FAJ has helped us maintain linked with possible clients and investors, with developments in the sector, and with regulatory concerns,” according to the business

Canadian funding

A Canadian venture capital business called Information Venture Partners specializes in direct and fund-of-funds fintech investments.

Since 2018, the Toronto-based VC has collaborated with the Montreal-based fintech fund The Holt Xchange. Its portfolio growth program offers early/seed stage entrepreneurs access to funding as well as network assistance and mentors.

The principal of the business, Alex Tong, discusses how the fund has benefited from the company’s connection with it in this passage.

We’ve been to several of their events, such as selection days, seminars, and pitching sessions, and our relationship with their programming has allowed us to get deals for free.

The company’s participation in these events has created chances for it to broaden and deepen its network in the fintech sector, connecting it with like-minded advisers and mentors.

According to Tong, the firm has benefited from its affiliation with The Holt Xchange in a number of different ways.

Speaking and presenting opportunities, as when Information Venture Partners’ general partner Dave Unsworth spoke at their cybersecurity webinar, have helped us get more visibility and exposure within our target demographic.

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