Sunline Empowers members of FPGGP with Insights on Southeast Asian Digital Financial Trends and National Regulatory Policies
Sizzling News

Since its establishment in June 2021, Huawei's Financial Partner Go Global Program (FPGGP) has actively integrated resources to empower the globalization of financial technology partners. As the first board of directors, Sunline served as the rotating chairman and hosted the "Southeast Asian Digital Financial Trends and National Regulatory Policies" event on August 18.

Sunline started its overseas expansion journey in 2016 and its current business covers more than 10 countries and regions. The virtual event convened more than 60 participants under the FPGGP program to analyze the overall financial status and development trend of the Southeast Asian market. Based on its overseas expansion experience, Sunline shared with the members of the FPGGP the development an in-depth interpretation of financial regulatory policies in Singapore, Thailand and Malaysia as well as its the first-hand experience of going international, aiming to help empower domestic partners to expand the overseas markets together and enable more Chinese companies to go global and further expand the commercial pie of the financial industry.

At the meeting, Yu Song, Deputy Director of Sunline Holdings Solutions and Product Center share his analysis on the status quo and development trend of digital finance in Southeast Asia. He pointed out that the current political environment in Southeast Asia is stable. Under the Belt and Road Initiative, countries are vigorously developing their economies and driven by the global digital economy, Southeast Asian countries have actively integrated digitalization into their national strategies with financial technologies, open banking, etc. gradually becoming the focus of IT investment in the Asia-Pacific region, providing a good environment and opportunities for Chinese vendors to venture overseas.

On the other hand, Niu Xiaoli, General Manager of the Solution Department of Sunline Group, shared her analysis on the specific financial regulatory environment of Singapore, Malaysia and Thailand. These three countries are representative in Southeast Asia in terms of national macro characteristics and digital progress. Based on the practical experience of Sunline, she also shared the regulatory characteristics of each country. Under the vision of a global financial center, she highly encourages innovation and adopts a unified regulatory model to create an open and inclusive business environment for enterprises.

At the end of the event, Yu Song also shared a “Detour Avoidance Kit” to partners in the pre-sales, in-sales and after-sales, emphasizing the importance of discussions and adjustments to prevent additions and changes to the scope of work after contract signing. He also advised to pay more attention to teamwork especially during the implementation and construction stages by establishing the unity of ideas, language, goals and knowledge as well as the bridge for direct contact with senior management. To maintain a sustainable business, there must be a comprehensive and good after-sales services after product is delivered.

In this event, Sunline discussed the Southeast Asian financial environment with an open and shared mentality, aiming to help FPGGP members better understand the overseas market environment and allow the FPGGP partners’ in enabling financial digital transformation. The value of innovation capabilities empowers Chinese financial technology companies to go overseas and exports the country’s leading financial technology models overseas, ultimately allowing China's financial technology reach global influence.

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