APIX is an online global marketplace and sandbox for collaboration between financial Institutions and FinTechs.
The platform promotes collaborative innovation through a three-step process:
- Discover
Digital solutions from 100s of FinTechs from around the world
- Design
Build prototypes and test API-based solutions easier, faster and cheaper
- Deploy
Gain rapid competitive advantage by deploying newly-built solutions rapidly
APIX facilitates a collaborative environment for FIs and FinTechs to exchange ideas in a community-led environment, co-design new financial products and services within a cloud-based and secure sandbox.
The platform will enable financial institutions to launch new products and services, thereby expanding access to finance for underbanked population thus driving greater financial inclusion.
APIX is a platform of the ASEAN Financial Innovation Network (AFIN), which was established earlier this year by the International Finance Corporation (IFC), the Monetary Authority of Singapore (MAS), and the ASEAN Bankers Association (ABA) as founding members. Japan, the Netherlands and the United Kingdom have provided funding.
A global consortium led by Virtusa – which includes Deloitte, Percipient and Fidor – was selected by AFIN to develop, implement and operate the APIX platform.
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Watch Prime Minister of India, Shri Narendra Modi and Deputy Prime Minister of Singapore, Mr. Tharman Shanmugaratnam launch the APIX platform on 14th of November, during the Singapore FinTech Festival.
The platform will help drive financial inclusion of more than 1.7 billion people across the globe by connecting banks that need Digital Transformation with FinTechs that have built innovative solutions through the APIX platform.
For more information, visit www.apixplatform.com