Abu Dhabi Global Market Academy (ADGM Academy), the educational arm of Abu Dhabi Global Market has announced today the signing of a Memorandum of Understanding (MoU) with the National University of Singapore’s Asian Institute of Digital Finance (AIDF).
Under the MoU, the two entities will collaborate to bring thought leadership to the fintech community and strengthen the Fintech ecosystem in Abu Dhabi and beyond.
They will conduct research into deep-tech solutions to real-world problems facing the financial services sector within the core themes of Cybersecurity, Artificial Intelligence, Credit, Big Data Analytics, Digital Transformation, and Sustainable Finance.
Hamad Sayah Al Mazrouei, Chief Operating Officer of ADGM and Managing Director of ADGM Academy, commented, “ADGM Academy is continuously working with global institutions to build a portfolio of high-quality financial research and development capabilities. This partnership is another step forward in our goal to empower the financial ecosystem and strengthen the nation’s ambitious economic growth plans and digitisation aspirations.”
Prof. Duan Jin-Chuan, Executive Director, Asian Institute of Digital Finance, National University of Singapore, said, “Our aspirations, coupled with the expectations of our stakeholders, propel us to commit to the development of inspiring and practical solutions in this digital era. At AIDF, we look forward to the close collaborations with ADGMA in research advancements, the education of skilled professionals, and nurturing of FinTech entrepreneurs. We see these activities as a vital component in pursuing a better future for our countries.”
The agreement focuses on three key pillars that will accelerate applied-based research in critical future-focused topics, bring together regulators, policymakers, and academia to discuss and solve real-world problem statements from the financial market. The first pillar is research and publication, in which the two entities will conduct in-depth research on the current financial environment, its challenges and future advancements. To further accelerate the research collaboration, a strategic research working group (SRWG) will be established that will include both local and international institutions. In addition, the two organisations will collaborate on the co-development of white papers and other academic publications within the field of future-focused technology.
In addition, AIDF and ADGMA Research Centre together will facilitate knowledge exchange across regions and advance research collaboration. It will also explore further cooperation through the Fincubator programme to develop entrepreneurship and help innovative ideas to transform into market-ready products and services, and drive cross border solutions where possible.
The second pillar is technology development; both the entities will work together on testing and implementation of iCASS (intelligent Credit Analytics Sharing System) into the ADGM Digital Lab Environment to support lenders in making credit facility decisions based on consolidated data and information which will further drive the development of the Abu Dhabi economy within the field of lending for Small and Medium Enterprise (SMEs).
The third pillar is knowledge dissemination, where AIDF and ADGM Academy will collaborate to bring thought leadership to the MENA Community and to build a technology leadership pipeline for Singapore, Abu Dhabi and the wider Asia and MENA region by conducting seminars and conferences around Artificial Intelligence, Credit, Big Data Analytics, Cybersecurity, and Sustainable Finance to drive knowledge dissemination.
The two organisations will also be working towards creating an ASIA-MENA Fintech Symposium, which brings together regulators, policymakers, key industry players and Fintech start-ups to discuss the global market challenges concerning the development of the Fintech ecosystem.
Source: Emirates News Agency