Emerging Payments Association Asia signs MOU to promote API exchange

Wednesday 4 December 2019 09:07 CET | News

The Emerging Payments Association Asia (EPAA) has signed a Memorandum of Understanding (MOU) with the ASEAN Financial Innovation Network (AFIN) to promote the benefits of the APIX Platform to the payments community.

Signing the MOU with AFIN is part of EPAA’s effort to advocate open banking. EPAA’s Project Open Banking Asia initiative is a 51-country initiative investigating API adoption, regulatory guidelines, the Fintech ecosystem and innovation. EPAA’s research will help formulate policies and standards for the Asian payments sector.

Placed on the agenda for the forthcoming Asia-Pacific Financial Forum (APFF) in February 2020, Open Banking Asia is examining the state of open banking through research conducted by members, Ambassadors, and the APFF. The resulting policy paper will outline open banking best practice recommendations, presented to Asia-Pacific Economic Cooperation (APEC) finance ministers at APFF 2020.

APIX, the flagship product of AFIN, is a global cloud-based platform that enables financial institutions and fintechs to discover one another on a curated global marketplace, design experiments collaboratively in the sandbox and deploy innovative solutions rapidly at a lower cost. The collaboration with AFIN represents significant value for current and future EPAA members.

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Keywords: Emerging Payments Association Asia, EPAA, API, open banking, Asia, ASEAN Financial Innovation Network, AFIN, partnership
Categories: Banking & Fintech | Payments General
Countries: Asia
This article is part of category

Banking & Fintech