The Global FinTech Alliance (GFA), held its inaugural General Assembly during the second edition of the Dubai FinTech Summit. This summit is recognized as a premier global event for the FinTech ecosystem.
The assembly convened at the ICEX Trade and Economic Office in Dubai, where founding members outlined an ambitious roadmap aimed at:
- Fostering Innovation: Driving technological advancements within the FinTech sector.
- Addressing Global Challenges: Tackling pressing issues faced by the global FinTech community.
- Establishing Collaborative Foundations: Laying the groundwork for future international partnerships.
The GFA’s vision encompasses making digital finance universally accessible, promoting innovation, and stimulating global economic growth. Key objectives set during the assembly include:
- Unified Global Voice: Creating a singular, representative voice for the FinTech industry worldwide.
- Expanding Digital Finance: Enhancing the reach and adoption of digital financial services.
- Promoting Financial Inclusion: Advocating for broader access to financial services across diverse populations.
- Facilitating Idea Exchange: Encouraging cross-pollination of ideas and best practices among members.
- Supporting Regulatory Development: Assisting in the creation and harmonization of global FinTech regulations.
- Standardizing Innovation Policies: Aligning innovation policies to ensure consistency and efficacy.
- Empowering Women in FinTech: Promoting gender diversity and inclusion within the industry.
The GFA, which originated during the Madrid International FinTech Capital event, aims to connect the global digital finance industry, facilitating the international expansion of FinTech companies and promoting financial inclusion. Its founding members include:
- European Digital Finance Association (EDFA): Represents Europe’s digital finance sector.
- FinTech Alliance Iberoamérica (FIA): Encompasses FinTech associations from Latin America.
- Africa FinTech Network (AFN): Unites FinTech entities across Africa.
- Digital ASEAN & Digital Philippines & IDEA: Represents digital finance initiatives in Southeast Asia.
The Dubai FinTech Summit served as a strategic platform for the GFA to expand its membership base and engage with global FinTech leaders. This interaction provided a unique opportunity to forge collaborative agreements with organizations sharing a holistic vision of the FinTech and digital finance sectors.
Rodrigo García de la Cruz, Vice President of AEFI and President of the GFA, emphasized the importance of the Dubai meeting in establishing a solid foundation for the alliance. He highlighted the goal of leveraging synergies among various associations worldwide to foster the FinTech ecosystem and share initiatives emerging from Europe, Latin America, Asia, Africa, and the Middle East. García de la Cruz envisions the GFA as a robust global coalition of digital finance associations, serving as a catalyst for the sustainable development of financial technology worldwide by testing and implementing best practices within the sector.