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From driving advancements in regulatory technology and payments to transforming client lifecycle management, Ireland’s financial technology companies are playing a significant role in shaping the industry’s global evolution. 

In Asia Pacific, their influence is expanding in tandem with the region’s growing fintech sector. At this year’s Singapore FinTech Festival, Irish trade and innovation agency Enterprise Ireland’s presence underscored the strategic importance of the Asia Pacific markets to Irish innovation.

BRINGING THE BENEFITS OF A THRIVING ECOSYSTEM 

Ireland’s expertise in fund administration, aircraft leasing and wholesale banking activities has attracted over 400 international financial firms – including half of the world’s top 50 banks – to establish their global operations in the country. 

According to Enterprise Ireland, the Irish fund industry (S$5.3 trillion) in assets, cementing its position as a global leader in financial services and fintech. Ireland also administers and holds a .

The success of Ireland’s fintech ecosystem stems from the synergy of its robust IT sector and sophisticated financial services industry, noted Mr Kevin Ryan, ASEAN director of Enterprise Ireland. “Ireland’s unique blend of regulatory expertise, rich talent pool and business-friendly environment has positioned it as a hub for fintech innovation,” he said. 

The presence of major tech companies across hardware, software and Internet services further strengthens Ireland’s ecosystem, supporting fintech growth in areas such as insurance tech, regulatory tech, blockchain and artificial intelligence (AI).

The diverse and rapidly growing economies in Asia Pacific present significant opportunities for growth and collaboration. The region’s complex regulatory landscape and accelerating digitisation of financial services, in particular, have driven demand for solutions in regulatory technology, payments and client lifecycle management. 

Irish companies are well-positioned to meet these needs. Among them is , a specialist in client lifecycle management and Ireland’s first fintech unicorn. Fenergo delivers software solutions that streamline regulatory onboarding and data management for major banks, including Standard Chartered and BNP Paribas. In Asia Pacific, where compliance and regulatory demands are intensifying, Fenergo’s solutions help financial institutions streamline client onboarding, enhancing the customer experience.

Another notable player is , a global leader in biometric identity solutions focused on digital onboarding and multi-factor authentication. At the Singapore FinTech Festival, Daon announced a partnership with TONIK, the Philippines’ first digital bank, underscoring its commitment to supporting digital transformation in the region.

With cross-border trade playing a in Southeast Asian economies, has tapped into strong demand for its global payment infrastructure. Operating in 201 countries with regulatory approvals across 92 jurisdictions, the company’s platform helps simplify international payments. These capabilities have attracted partnerships with industry leaders such as Barclays and ING. 

CHAMPIONING INNOVATION IN ASIA PACIFIC

Enterprise Ireland, recognised for having the , is playing a key role in expanding Ireland’s fintech footprint in Asia Pacific. 

This year’s Singapore FinTech Festival marked a milestone for Enterprise Ireland as it led its inaugural all-island trade mission, representing both Northern Ireland and the Republic of Ireland in a unified effort to showcase Irish fintech expertise. 

“The Singapore FinTech Festival underscored Ireland’s position as a global centre of excellence for financial services and innovation,” said Mr Ryan. “The event showcased the strength of our fintech ecosystem and the innovative solutions Irish companies are providing to meet the digital transformation needs of Asia Pacific.”

The mission, helmed by Mr Leo Clancy, CEO of Enterprise Ireland, and Ms Mary Buckley, executive director of IDA Ireland – the country’s foreign direct investment agency – brought together nine Irish fintech firms to present their solutions and applications tailored for the region.

These firms included , a consultancy specialising in financial services; and , which leverages AI to deliver advanced data management and security solutions. These organisations have worked with major banks and financial institutions in Asia Pacific to address challenges in risk management, compliance and cybersecurity.

In driving innovation across diverse industry segments, these companies join other Irish fintech firms that have already established partnerships in Asia Pacific.  

, a provider of payments and financial services for over 40 years, is a trusted partner for brands in Asia Pacific, offering solutions that enhance the efficiency of financial operations. Similarly, regulatory tech specialist has introduced digital compliance and customer onboarding solutions tailored to a region grappling with stringent regulatory demands. Its tools enable financial institutions to navigate complex compliance requirements, shorten onboarding timelines and enhance the user experience.

According to Mr Ryan, Asia Pacific will remain a strategic priority in the future as Ireland’s fintech sector continues its growth trajectory. “Supported by a collaborative ecosystem, robust government backing and top talent, Irish fintech firms are well-positioned to drive digital transformation in financial services across one of the world’s fastest-growing markets,” he said.

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