Cambridge-Singapore alliance to speed FinTech research and commercialisation
An historic agreement co-steered by thought leaders in Cambridge and Singapore is set to fast-track research and commercialisation of FinTech plays.
The key players involved are the Cambridge Centre for Alternative Finance (CCAF), based at the University of Cambridge Judge Business School, The Asian Development Bank Institute (ADBI) and the Cambridge Centre for Advanced Research & Education in Singapore (Cambridge CARES).
The parties believe the Asia-Pacific-focused collaboration will help technology-enabled financial innovation and knowledge sharing throughout the region grow wings.
The agreement is made possible by the programmatic support of the ADBI and Cambridge CARES’ pan-regional research expertise; it contributes to the Cambridge Alternative Finance Collaboration Network (CAFCN), a cross-regional and multi-sectoral network to create and share knowledge in order to accelerate decision making related to inclusive FinTech initiatives globally.
A dedicated team based in Singapore will facilitate collaborative research with both regional and global focus. This team will enable research projects to be carried out under three highly integrated CAFCN pillars contributing to the creation and transfer of FinTech and Digital Financial Services related knowledge, as well as facilitating FinTech/DFS market development and effecting regulatory change across the Asia-Pacific region and beyond.
Under the first pillar, the CCAF, ADBI and Cambridge CARES will undertake in-depth diagnostic analyses on the market and regulatory environment in the region – the results of which will be deployed via the second pillar, the development of digital tools that will inform both regulatory and market decision-making.
The third pillar will be to deliver evidence-based education programmes for regulators and policymakers. This will include activities ranging from online programmes to offline, in-situ training in the region.
Dr Robert Wardrop, director and co-founder of the CCAF, said: “When you combine Singapore’s heritage as a thriving global financial centre, ADBI’s contribution as a programmatic partner, with Cambridge CARES’s foundations in academic collaboration, there is a compelling case for this agreement being a key strategic aspect of the collaboration network that we are building.
“We are very focused on not only jointly developing academic thought leadership, but also on having a strong impact on policy decision-making and business practice across the APAC region and globally.”
Tetsushi Sonobe, Dean and CEO, The Asian Development Bank Institute, added: “Financial innovation will not only accelerate post-COVID-19 green and inclusive recovery but also significantly contribute to fostering sustainable growth in the longer term.
“The Asian Development Bank Institute, Cambridge Centre for Alternative Finance, and Cambridge Centre for Advanced Research and Education in Singapore are determined to work together to create and share knowledge of financial technology across Asia and the Pacific to help realise its sustainable development potential while controlling the risks.”