AIFC and Fidor Solutions signed a Memorandum of Understanding to drive fintech innovation in Central Asia

Tech Hub

03 July 2019 00:00:00

Astana International Financial Centre (AIFC) and Fidor Solutions today signed a Memorandum of Understanding (MoU) to launch fintech programs in Kazakhstan and promote economic development across Central Asia. This MoU was signed within the framework of the Astana Finance Days.

Fidor Solutions international entity, known as ‘the oldest fintech bank in the world’, is a pioneer in the area of open banking. The organisation contributes to fintech programmes in key global financial centres.

This MoU foresees AIFC and Fidor fostering fintech collaboration to boost the digital economy and increase financial literacy and access. It includes:

- Initiatives to support the development of a cashless economy in Kazakhstan.

- Development of joint fintech education programmes with key regional universities.

- Support in developing the AIFC fintech marketplace to boost financial market innovation and collaboration while driving e-commerce activities.

- Mentorship and partnership on accelerator programmes.

Kairat Kelimbetov, Governor of AIFC: “The AIFC has high expectations in relation to fintech directions. We are proud to expand our network of fintech partnerships by signing a Memorandum of Understanding with Fidor, a European Fintech company successfully developing internationally. Their input will be valuable to all our members and partners.”

Ge Drossaert, Board Member and Group CCO of Fidor, commented: “We are glad to be joining AIFC’s fintech innovation programme. Fidor share similar core values to AIFC, such as openness and knowledge sharing. We are glad to put this into action by offering our expertise in launching this fintech education programme, and financial marketplaces while mentoring regional fintechs. The collaboration between our organisations will pave the way for fintech success in the region with a direct impact on the digital economy and financial access.”

Reference:

AIFC. Astana International Financial Center (AIFC) was established at the initiative of the First President of the Republic of Kazakhstan, Nursultan Nazarbayev. The constitutional law on the creation of the AIFC was signed on December 7, 2015. The goal of the AIFC is to create a leading centre of financial services at the international level. The objectives of the AIFC are to assist in attracting investments into the country’s economy, creating an attractive environment for investing in the financial services sector, developing the securities market of the Republic of Kazakhstan and ensuring its integration with international capital markets. www.aifc.kz

Fidor Solutions is a fast-growing leader in open, digital banking. It combines unparalleled expertise in advisory and cutting-edge technology to deliver highly customer-centric digital banking propositions across the globe. While the movement for open and digital banking is in its infancy, Fidor Solutions stands apart with its ten years of experience in pioneering the use of APIs and designing, running and growing digital banks from zero to success. Organisations that partner with Fidor gain invaluable insights and learn how to avoid pitfalls, ensuring they engage in new ventures with minimal risk. Fidor Solutions’ unique approach ‘The Fidor Way’ helps financial organisations engage and build genuine relationships, understand data with the use of AI and machine learning and earn customer loyalty while remaining relevant throughout the customer journey. Fidor Solutions specialises in solving major banking customer challenges through innovation, including on-boarding, engagement, customer experience, digitalisation, financial inclusion and the creation of new business models such as marketplaces and platforms. The fidorOS digital banking platform powers the most innovative financial organisations in Europe, Africa, the Middle East and Asia including www.fidor.de , www.moneysmart.ae , www.banxybank.com , www.o2banking.fidor.de. The company was recognised by Forbes as Europe's 10 Most Exciting Technology SMEs For 2018 and by Celent as “redefining the customer experience by taking advantage of architectural openness, partner ecosystems, and a community focus. www.fidor.com