SFA, AFIN Agree to Jointly Promote Fintech Marketplace APIX

The Singapore Fintech Association will leverage its network to promote the APIX platform to fintech firms worldwide, while AFIN connects banks with fintechs through the platform.

The SFA (Singapore FinTech Association) has signed an MoU (memorandum Of understanding) with AFIN (the ASEAN Financial Innovation Network) to collaborate and promote the APIX platform to the fintech community, with an aim to further develop the industry.

Launched by India’s Prime Minister Narendra Modi and Singapore’s Deputy Prime Minister Tharman Shanmugaratnam at Singapore Fintech Festival 2018, APIX is an online marketplace for financial institutions to discover and connect with innovative fintech solutions.

The platform also enables financial institutions and fintech companies to collaborate and experiment to design unique solutions in a sandbox environment.

Developed by AFIN, which comprises MAS (Monetary Authority of Singapore), the ASEAN Bankers Association and the World Bank’s International Finance Corporation, the initiative is aimed at facilitating global collaboration between financial institutions and fintech firms, and promoting inclusive finance.

Under the MOU, the SFA will leverage its domestic and international network to promote the APIX initiative to fintech companies worldwide, while AFIN will connect banks in need of digital transformation solutions with fintechs on the platform.

The SFA and AFIN have also agreed to mutually share inputs and suggestions on events and other initiatives and efforts.