ZA Tech Global Limited, the technology venture established by ZA International and supported by Softbank’s Vision Fund 1, revealed on Friday (April 9, 2021) that it’s launching its Asia Fintech Center (AFC) in Singapore. The new center will focus on financial services innovation projects and it will also assist industry participants in the region so they can develop new products that will accelerate their digital transformation strategies.
The AFC launch is reportedly a global first for ZA Tech, as the business increases its focus on supporting the vision of providing a unified tech platform that aims to support the future of financial services and offer access to underserved consumers.
The Singapore-headquartered Center will aim to address specific use-cases in insurance and the financial services sector with assistance from industry partners. It will initially work on various insurance use-cases by co-developing innovative projects with ASEAN region-based insurance service providers. It will also work with local academic institutions or universities to develop appropriate Fintech-related expertise and talent.
Bill Song, CEO of ZA Tech, stated:
“We partner with industry players to strive to boldly redefine financial services, and the AFC is an important pillar of making that happen. As we have entered 2021, the year the internet economy continues to rapidly reshape consumer expectations across Asia, digital transformation is becoming as crucial as ever for financial services firms. AFC will bring together technology, talent and partner network to build innovative propositions that fit closely with the evolving customer expectations across both online and O2O and to help financial services prepare for the next chapter of the digital revolution.”
George Kesselman, Head of Commercial for ZA Tech, remarked:
“I am incredibly proud of the work that the team is doing with our partners in the region. AFC will allow us to bring collaboration to the next level by launching new innovative use-cases and enable rapid product-market fit testing and iteration. Southeast Asia is the major epicentre of financial services transformation. We strongly believe that Singapore, as the hub of innovation and talent in the region with its innovation friendly environment and forward oriented regulator Monetary Authority of Singapore, provides the perfect location to launch and scale fintech innovation across Southeast Asia.”
ZA Tech is the tech platform for ZA International that focuses on expanding its global operations by teaming up with major internet firms and financial services companies based in Southeast Asia, Japan and Europe. ZA Tech offers technical solutions and professional services as well.
ZA Tech aims to digitally transform the insurance sector by working with several different customer technology platforms. It’s focused on creating innovative insurance solutions while offering the digital core system to insurers as the infrastructure for their distribution.