The MENA Fintech Affiliation, the not-for-profit organisation supporting fintech startups and established gamers throughout the Center East and Africa, is about to develop its affect to companies in Hungary, after signing a memorandum of understanding (MOU) with the Hungarian Fintech Affiliation.
The 2 fintech associates are becoming a member of forces to boost collaboration and foster innovation throughout the fintech ecosystems of each MENA and Hungary.
This strategic partnership marks a big step ahead in strengthening ties between the 2 areas, with a shared imaginative and prescient to create an surroundings conducive to fintech development and improvement. Each associations are dedicated to leveraging their respective networks, sources, and experience to facilitate cross-border collaboration, data trade, and innovation throughout the fintech business.
Zoltán Ács, president of the Hungarian Fintech Affiliation, mentioned the collaboration: “Below the phrases of the MOU, each associations will work carefully to facilitate cross-border fintech initiatives, akin to joint occasions, knowledge-sharing classes, and collaborative initiatives.
“Moreover, the partnership seeks to help fintech startups and scale-ups by offering them with entry to new markets, funding alternatives, and regulatory insights.”
Established in 2020, the Hungarian Fintech Affiliation now boasts over 50 members, and works on serving to decision-makers, regulators and monetary establishments to higher perceive the native fintech sector and its wants.
It serves as a delicate touchdown for worldwide members, and supply help and providers upon their entry into the Hungarian market. The Hungarian Fintech Affiliation additionally present numerous academic and networking alternatives for his or her members and different business gamers.
Backing growth to the EU
The MOU, which signifies a landmark settlement between the 2 main fintech associations, was signed throughout the Dubai Fintech Summit, in Dubai. The governor of the Central Financial institution of Hungary was additionally current.
Nameer Khan, chairman of the MENA Fintech Association and founding father of FILS, additionally added: “We’re thrilled to formalise this partnership with the Hungarian Fintech Affiliation. Since final yr the Hungarian Central Financial institution and the native ecosystem have been strategically working with MFTA. By now formally becoming a member of forces, we goal to unlock new alternatives for fintech companies in each areas and drive impactful collaboration that can gasoline innovation and development within the international fintech panorama.
“The principle purpose of the Hungarian Fintech Affiliation is to ascertain significant connections and enterprise alternatives for its members. We will help MENA-located firms in getting into the European Union not solely via connections but additionally by sharing greatest practices and offering regulatory and authorized recommendation.
“By way of our mutual cooperation, Hungarian fintech firms also can extra simply conduct enterprise in MENA international locations, and this shut collaboration can foster the expansion of the worldwide fintech ecosystem.”
Based in 2018, the MENA Fintech Affiliation has earned recognition as one of many high 4 fintech organisations globally. With a powerful presence within the Center East and Africa, the affiliation has been on the forefront of driving innovation and fostering collaboration within the fintech business.
