ASEAN Financial Innovation Network (AFIN) Lands Partnership with Fintech Alliance.PH
Filipino fintech players can expect a boost from their regional counterparts as local trade association Fintech Alliance.ph inks a deal with the ASEAN Financial Innovation Network (AFIN).
The two parties yesterday agreed in a signed memorandum of understanding to promote the use of API Exchange (APIX), an online fintech marketplace and sandbox platform developed by AFIN, among other cooperation.
APIX is the world’s first cross-border, open-architecture platform of its kind. It enables interactions among financial institutions and fintech firms, collaboration on experiments in isolated testing environments, and adoption of application programming interfaces (API) for quick deployment of digital solutions.
Fintech Alliance.ph will be organizing learning sessions on the use of the APIX platform among its members as part of the agreement.
“Digital transformation and financial inclusion are mutual interests of our two organizations,” says Lito Villanueva, Chairman of Fintech Alliance.ph.
“This partnership will ensure the speedier growth of the Philippine fintech industry through closer work with our ASEAN neighbors.”
AFIN, launched in 2018, is a non-profit organization founded by the Monetary Authority of Singapore, the ASEAN Bankers Association, and the World Bank’s International Finance Corporation.