Global law firm Norton Rose Fulbright is advising the ASEAN Financial Innovation Network (AFIN), formed by the World Bank’s International Finance Corporation, the Monetary Authority of Singapore and the ASEAN Bankers Association, on the establishment of a global FinTech marketplace and sandbox platform, called API Exchange (APIX), hosted in Singapore.
The platform will be used by FinTech application developers and financial institutions in emerging markets in the ASEAN region and beyond for the trial of new FinTech applications and solutions. The marketplace enables financial institutions to discover innovative solutions of FinTech players while the sandbox provides a cloud-based testing environment through which financial institutions and FinTech players can develop, test and refine digital finance and inclusion solutions in multiple jurisdictions.
The APIX platform is supported by AFIN, and has been launched this week at the Singapore FinTech Festival.
The Norton Rose Fulbright team in Singapore advising AFIN is led by partner Stella Cramer and includes partner Sheela Moorthy and of counsel David Olds.
Stella Cramer commented: “We are delighted to advise AFIN on the establishment of a global FinTech marketplace and sandbox that promotes real-time collaboration and financial innovation across the region, particularly in underserved areas of the market and to service the unbanked across the region. The APIX platform will mark a great step forward for FinTech firms and regulators to address issues of connectivity, local compliance and cross-border compatibility.”
The Norton Rose Fulbright global FinTech team offers a combination of deep technology experience with regulatory and financial services knowledge. The firm’s recent experience includes advising some of the world’s leading financial institutions on legal and regulatory issues relating to potential use cases of FinTech, acting as legal counsel to financial services consortia assessing the opportunities and impact of the technology, and advising technology companies, start-ups and investors across the sector.
For further information please contact:
Jessica Seah, Marketing and Communications Manager - Asia
Tel: +852 3405 2327; Mob: +852 6462 3621
Louise Nelson, Senior PR Manager
Tel: +44 20 7444 5086; Mob: +44 7909 684 893
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