The Asia FinTech Alliance (AFA) summit closed on Sept. 3, with AFA Chair and Taiwan FinTech Association (TFTA) honorary chair Tsai Yu-ling saying global trade and supply chains have become the core setting for fintech adoption. She said representatives and regulators across AFA’s 16 member economies have already been making moves in this area, and while Taiwan was not the earliest starter, its supply-chain base and clearly defined market demand give it the ability to make up ground quickly.
Two-day summit gathered industry and regulatory speakers
The two-day AFA summit brought together decision-level speakers from Taiwan and abroad, financial institutions, and cross-border regulatory bodies. Tsai said the event featured a large number of overseas speakers and a packed agenda. Key industry speakers from different countries shared the latest developments directly, giving participants first-hand information that she said would be difficult to obtain by relying on AI alone and helping decision-makers follow global shifts more closely.
About half of sponsors came from supply-chain companies
Tsai said this year’s forum showed a structural change: around half of the sponsors were supply-chain companies. Compared with the more cautious stance seen last year, the stronger participation from industry this time pointed to much clearer demand from the client side.
She said Test-Rite Group founder and chair Lee Li-chiu, Wiwynn chair Hung Li-ning and CFO Chen Chang-wei, Avalue Technology chair Chang Hsiu-mei, and Chenbro CEO Chen Ya-nan all attended in person. According to Tsai, they spoke about pain points in cross-border trade and supply chains and outlined what they want from fintech. She said this reflected a top-down push and that those needs and problem points are now ready to move into the proof-of-concept, or POC, stage.
Tsai also said the forum invited regulators from different markets, including Bank Negara Malaysia, to share their experience. That, she said, helped clarify regulatory attitudes across jurisdictions and supported dialogue between industry and the public sector. The remarks were in line with her longer-held view that fintech should target supply-chain finance and that Asia will be the largest market for that push.
Next step will be action through task forces
On international competition, Tsai said global fintech development is moving fast and that capital and resources can be deployed across borders with considerable flexibility. If Taiwan does not accelerate, she said, other countries could seize the initiative first. In her view, Taiwan’s main edge lies in the depth of its supply-chain industries. Closer cooperation between clients and fintech companies could both upgrade supply chains and help Taiwan catch up.
She said AFA is working to build an Asia-focused fintech ecosystem and described the end of the forum as the starting point for “Action together.” Future cooperation plans will be carried out through task forces, with the goal of turning them into concrete projects. She said she hopes next year’s forum will be able to show the market visible results.
This year’s summit also followed the Sept. 1 announcement of AFA’s first Asia Cross-Border FinTech Awards.
About AFA and TFTA
AFA is a voluntary international cooperation platform established by 16 leading fintech associations and organizations in Asia, according to the article. Each economy is represented by only one association or organization. Its members span Taiwan, South Korea, Singapore, Japan, the Philippines, Indonesia, Hong Kong, Malaysia, Thailand, Cambodia, Mongolia, Nepal, India, Vietnam, Sri Lanka, and Uzbekistan.
TFTA was established in 2017 and is a formal member of AFA. The association has long advocated regulatory policies that support fintech innovation and has worked with government agencies, industry participants, and international organizations.