Application Programming Interface Exchange

From HandWiki
Short description: Global fintech platform
Application Programming Interface Exchange
LocationSingapore, Singapore
OwnerASEAN Financial Innovation Network (AFIN)
Key peopleManish Diwaan, Managing Director[1]
APIX is officially launched by Narendra Modi, Prime Minister of India and Tharman Shanmugaratnam, Deputy Prime Minister of Singapore at the Singapore FinTech Festival on November 14, 2018, in the presence of (From Left) Vivek Pathak, Regional Director - East Asia and Pacific, IFC (World Bank Group), Paul CG Gwee, Secretary-General of ASEAN Bankers Association (ABA) and (Far Right) Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore (MAS).

The Application Programming Interface Exchange(APIX) is a global fintech marketplace and regulatory sandbox.[2][3][4][5][6][7][8][9]

APIX is the world’s first cross-border, open architecture API marketplace and sandbox platform for collaboration between FinTechs and financial institutions in which participants can integrate and test solutions with each other via a cloud-based architecture.[1]

It brings together financial industry participants to discover, design and deploy innovative digital solutions within a collaborative ecosystem.[1]


The ASEAN Financial Innovation Network (AFIN) was established as a non-profit organization in 2018 by the ASEAN Bankers Association (ABA), International Finance Corporation (IFC), a member of the World Bank Group, and the Monetary Authority of Singapore (MAS). AMTD Foundation and Mastercard are AFIN’s Corporate Founding Members.[1]

AFIN was set up with the mission to facilitate innovation and cooperation between financial institutions and FinTechs, in an effort to digitally transform the banking and financial sectors across the ASEAN region and beyond to ultimately drive financial inclusion. To support this mission, AFIN has launched the API Exchange (APIX).[1]


APIX was officially launched by Narendra Modi, Prime Minister of India and Tharman Shanmugaratnam, Deputy Prime Minister of Singapore at the Singapore FinTech Festival in 2018.[10][11][12]


APIX was developed by Boston-headquartered Virtusa with the help of its software engineers from Hyderabad, Colombo, and London.[10][11][12]

Global reach

The target market for APIX is the estimated two billion people who are without bank accounts around the world.[10][11][12]

APIX has been designed to help banking institutions in reaching out to more people without bank accounts across 23 nations, including 10 ASEAN members as well as major markets like India and nations like Fiji.[10][11][12]

APIX is expected to cater the needs of smaller banks and people living in Tier 3 and 4 cities and remote regions.[10][11][12]


  1. 1.0 1.1 1.2 1.3 1.4 "About US". AFIN. 
  2. "PM Narendra Modi's keynote address at the Singapore FinTech Festival". Business Standard. November 14, 2018. 
  3. "Narendra Modi in Singapore Highlights: PM calls for early conclusion of Regional Comprehensive Economic Partnership". Hindustan Times. November 14, 2018. 
  4. "PM Modi pitches India as favourite investment destination at Fintech Festival in Singapore". The Economic Times. November 14, 2018. 
  5. "PM Modi Arrives In Singapore For East Asia Summit". NDTV. November 14, 2018. 
  6. "In Singapore, Modi tells world's fintech firms: India is your best destination". India Today. November 14, 2018. 
  7. "Narendra Modi in Singapore: At Fintech Festival, PM cites Aadhaar, UPI; says inclusive growth stems from digitisation in India". Firstpost. November 14, 2018. 
  8. "PM Narendra Modi delivers keynote address at fintech festival in Singapore, praises Aadhaar scheme, Jan Dhan Yojana". The Times of India. November 14, 2018. 
  9. "PM Modi hard-sells India to global FinTech firms". Deccan Herald. November 14, 2018. 
  10. 10.0 10.1 10.2 10.3 10.4 "Prime Minister Modi launches APIX technology in Singapore". The Economic Times. November 14, 2018. 
  11. 11.0 11.1 11.2 11.3 11.4 "Prime Minister Narendra Modi launches banking tech platform in Singapore: all you need to about the platform". QRIUS. November 16, 2018. 
  12. 12.0 12.1 12.2 12.3 12.4 "India prime minister says financial tech needs to be a 'movement' — not a 'mechanism'". CNBC. November 14, 2018. 

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