The Mongolian Fintech Association is a non-profit, membership-based community of fintech organizations. Our mission is to develop a financial technology ecosystem that fosters Mongolia's socio-economic development by bringing together industry players to lead collaboration on Fintech, providing a range of information to the general public, and supporting the development of a regulatory environment for the Fintech industry in Mongolia.
About us
Promote and unite with other fintech organizations and regulatory bodies to further expand fintech sector of Mongolia.
Work in close collaboration with relevant organizations on creating favorable legal environment for the fintech sector of Mongolia.
Associate with local, international universities as well as institutes to educate and provide information regarding fintech to general public.
With the rapid development of technology, the global financial system is evolving at a faster rate than ever, and even traditional financial institutions have undergone profound changes over the past few decades.
As The COVID-19 pandemic has accelerated the digital transformation of the financial system, further development of the fintech industry requires careful consideration, decision-making, and preparation of what the global financial system will look like and how to prevent potential negative impacts and risks to promote economic growth.
As for Mongolia, the Fintech industry is in its early stages of development. The presence of a network association of Fintech investors, tech players, and industry participants are particularly important as they can represent industry interests, act as self-regulatory organizations, focus on the development of the sector and manage customer needs.
The Mongolian Fintech Association (MFA) was founded on the 18th of Jan, 2019. MFA organized Frontier Fintech Summit for the first time in Ulaanbaatar, Mongolia on May 9-11, 2019 under the theme “Fintech Innovation in Frontier Market”. The summit’s purpose was to provide full access to industry information and introduce new innovative products and services to the market after thoroughly testing the business model in accordance with the law and regulations before issuing licenses and making them competitive in the market to avoid the risk of being squeezed out of the market competition.
