Pivot Fintech and Xiamen International Bank (XIB) Sign Memorandum of Understanding at Singapore Fintech Festival to Foster Fintech Innovations for Asian Expansion

Singapore, 6 Nov 2024 – Pivot Fintech, a Singapore-based fintech solutions provider and a licenced fund manager regulated by the Monetary Authority of Singapore (MAS) has signed a Memorandum of Understanding (MOU) at the Singapore Fintech Festival with Xiamen International Bank (XIB), a leading financial institution based in Xiamen, China to explore the development of innovative fintech applications to bolster XIB’s expansion across Asia.

This partnership will leverage the strengths of both organizations in the fields of digital finance and technology-driven solutions. The collaboration aims to conduct research and drive the integration of fintech advancements to meet the growing financial needs of clients in the region. Pivot Fintech and XIB will explore and co-create tailored digital solutions, from advanced customer engagement tools to seamless cross-border banking services, thereby enhancing XIB’s competitive edge as it scales its footprint across Asia.

Pivot Fintech will bring its deep expertise in digital finance, customer experience innovation, and secure, scalable technology infrastructure to the collaboration. XIB will contribute its robust understanding of banking operations and regulatory requirements, as well as its deep insights into the financial landscapes of China and Asia.

Mr. Victor Lye, Founder & CEO of Pivot Fintech, shared, “We are thrilled to partner with XIB and harness our combined strengths to foster fintech advancements that will support XIB's expansion across Asia. This partnership underscores our commitment to shaping the future of finance in Asia, offering solutions that enhance efficiency, security, and customer satisfaction.”

Mr Wang Xian Jian, Chairman at Xiamen International Bank, commented, “This collaboration with Pivot Fintech aligns with our vision of providing innovative, accessible financial solutions as we grow in Asia. By embracing technology-driven transformations, we aim to meet the evolving demands of our clients and position XIB as a premier choice for international financial services in Asia.”

The signing of the MOU at the Singapore Fintech Festival, a premier event gathering global leaders in the fintech and finance sectors, reinforces both companies' dedication to fostering meaningful progress in the Asian financial landscape. This partnership represents a significant step toward advancing fintech innovations in the region and paves the way for future collaborations that will shape the next generation of financial solutions.

About PIVOT Fintech
Pivot Fintech is a leading digital solutions provider focused on advancing fintech applications across various financial services sectors. With a commitment to customer-centric solutions and technological excellence, Pivot Fintech empowers financial institutions to deliver innovative, secure, and scalable digital services that address the evolving needs of modern consumers. As a regulated investment manager in Singapore, Pivot operates its consumer brand, SqSave.com, which delivers “Smart Investing for Anyone, Anywhere, Anytime”.

About Xiamen International Bank (XIB)
Founded on August 31, 1985, and headquartered in Xiamen, Xiamen International Bank Co., Ltd. (hereinafter referred to as XIB) is Chinas first Sino-foreign joint venture bank and signed a cooperation agreement with the renowned American investment bank Goldman Sachs to mutually recommend consulting and financial services to enterprises. In 2013, XIB transitioned from a limited liability company to a joint-stock company, converting from a Sino-foreign joint venture bank to a Chinese commercial bank. In The Bankers Top 1000 World Banks 2023 list, XIB ranked 154th by total assets and 161st by Tier 1 capital, maintaining its position among the world’s top 200 banks for several consecutive years. XIB Group operates over 140 branches and institutions in Hong Kong, Macau, Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Zhuhai, Xiamen, and eight other cities within Fujian Province.

For further information, please contact:
Victor Lye, Founder & CEO, Pivot Fintech
victor.lye@pivotfintech.com