Establishment of the ASEAN Financial Innovation Network FinTech sandbox

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.

Norton Rose Fulbright advised AFIN with a team including Stella Cramer (Picture), Sheela Moorthy and David Olds.

Involved fees earner: David Olds – Norton Rose Fulbright; Sheela Moorthy – Norton Rose Fulbright; Stella Cramer – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: ASEAN Financial Innovation Network;

Author: Michael Patrini