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Singapore, 20 July 2020 – Nexia TS announced today the launch of Nexia InnoLab, a platform to enable fintech companies to engage businesses from various sectors on technological solutions. In partnership with the Singapore Fintech Association (SFA), a Memorandum of Understanding (MOU) was signed in the presence of Ms Indranee Rajah, Minister, Prime Minister’s Office, Second Minister for Finance and Education, who also officiate the opening of Nexia InnoLab.
Under the MOU, SFA members shall have access to business consultancy and advisory clinics many of which is offered via the Nexia InnoLab collaboration platform. The MOU was drawn up to strengthen fintech company’s financial capabilities in the face of the challenging period amid the pandemic.
Nexia business clinics for SFA members covers a wide spectrum of key business areas including taxation, valuation, cashflow planning, information memorandum, preparation and exit of initial public offering, Singapore Personal Data Protection Act, General Data Protection Regulation, as well as governance and internal controls.
Mr. Henry Tan Group CEO and Chief Innovation Officer, Nexia TS said, “As an established international accounting firm with over 27 years of experience, we have come across clients particularly SMEs facing various digital needs. As more fintech players emerge in the post-COVID-19 market, we see an immediate fit to connect them to our SME clients in a holistic digital ecosystem to deliver high-impact financial solutions to better the city-state’s economy. Many Fintech firms also require assistance with their cashflow planning, growth and taxation needs and we are offering pro-bono help to the ecosystem.”
Mr Chia Hock Lai, President, SFA “SFA is excited to partner with Nexia TS to provide free business advisory clinic to FinTech firms. In addition, SFA members can look forward to co-creating technological solutions with businesses from various sectors through the Nexia InnoLab collaboration platform, ” said Chia Hock Lai, president, Singapore FinTech Association. “The partnership is timely to strengthen the financial capabilities of our members amidst the challenges posed by the COVID-19 pandemic.”
About Nexia TS:
Founded in 1993, Nexia TS today is recognised as an established accounting and advisory firm. Headquartered in Singapore, the firm has strong presence in various countries across the region. Nexia TS Shanghai is a one-stop centre providing advisory services for foreign-invested enterprises in China. NTS Malaysia and NTS Myanmar provide a full suite of corporate advisory services for clientele with operations and new foreign investments in the respective countries. Being an independent member firm of Nexia International also means that we have more than 32,000 staff serving clients at 727 offices in 122 countries. It is ranked as the top 10 largest international accounting and consulting network. For more information, please visit www.nexiats.com.sg.
About Singapore Fintech Association:
The SFA is a cross-industry and non-profit organisation. Its purpose is to support the development of the FinTech industry in Singapore, and to facilitate collaboration among the participants and stakeholders of the FinTech ecosystem in Singapore. The SFA is a member-based organisation with over 700+ members. It represents the full range of stakeholders in the FinTech industry, from early-stage innovative companies to large financial players and service providers.
To further its purpose, the SFA also partners with institutions and associations from Singapore and globally to cooperate on initiatives relating to the FinTech industry. The SFA has signed over 50 international Memorandum of Understanding (MoU) and are the first U Associate organisation to be affiliated with National Trades Union Congress (NTUC). Through their FinTech Talent (FT) Programme, launched in 2017, over 300 professionals have been trained in FinTech, including blockchain & cryptocurrency, cybersecurity and regulation. For more information, please visit www.singaporefintech.org.
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