Jakarta. FinTech Indonesia signed an agreement with its Australian counterpart earlier this month to foster closer cooperation in the advancement of financial technologies, the company said in a statement on Monday (18/12).

The cooperation agreement is a continuation of previous visits by Indonesian fintech delegations to Australia.

The signing was witnessed by Fithri Hadi, financial innovation director at the Financial Services Authority (OJK), and Dan Thomas, deputy chairman of Australia's Department of Foreign Affairs and Trade.

The agreement provides a foundation to facilitate cross-border exchanges of talent, technology and capital, and improve market insights for fintech companies in both countries.

In essence, the agreement commits both countries to work together to create a bridge between the fintech communities in Indonesia and Australia, expand opportunities, share knowledge and promote the financial growth of both parties.

"The signing of this agreement is an exciting event, which illustrates the growing fintech bonds between our two countries," FinTech Australia deputy chairman Stuart Stoyan said.

The sentiment was shared by Karaniya Dharmasaputra, secretary general of FinTech Indonesia and co-founder of Bareksa Portal Investasi.

"Australia and Indonesia have a very strong relationship; this is the right moment to further fintech cooperation at an individual and industrial level," Karaniya said.

FinTech Australia will attend the Indonesia-Australia Digital Forum in Jakarta in February, which aims to further cultivate relations between the two countries.

A copy of the signed memorandum of understanding can be found here, while a video of the Indonesian fintech delegation, published by FinTech Australia, is available here.