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 manages over €3.8 trillion (S$5.3 trillion) in assets, cementing its position as a global leader in financial services and fintech. Ireland also administers 40 per cent of the world’s hedge funds and holds a 60 per cent share of the global aircraft leasing market.
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 Fenergo, 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 Daon, 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 pivotal role in Southeast Asian economies, TransferMate 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
