Southeast Asia fintech community just got a boost with ASEAN Financial Innovation
The ASEAN Financial Innovation Network (AFIN) announced that it has signed two memorandums of understanding (MOUs) with Bridge+ and PwC Singapore today to support the various facets of the needs and development of the fintech community.
The partnerships, AFIN said, meant to provide fintech firms on the API Exchange (APIX) online community with resources to support their expansion following their business connections with financial institutions globally. APIX is the flagship product of AFIN, serves as a cloud-based platform that enables financial institutions and fintech firms to partner one another, design prototypes, and deploy proven solutions to the market quickly and more affordably.
With the partnership, Bridge+ said it will cultivate community and relationship building for the fintechs, by allowing fintech to sign up for a monthly roaming subscription plan that gives them flexible access to all shared workspaces and amenities of Bridge+ in key Asian markets. It aslo pledges to facilitate events such as seminars, workshops, and exhibitions to support collaborations.
On the other MoU, PwC Singapore’s Venture Hub will connect fintechs on the APIX platform with venture capitalists, incubators, and accelerators to help fintechs to expand into key markets. PwC’s services will be made available at preferential rates for the members.
“AFIN is delighted that industry leaders are coming together to support the APIX platform. Our partnership will help the fintech ecosystem in the region to be more effective from a cost and effort point of view. We hope that more and more ecosystem partners will synergise and bring along their capabilities,” said Manish Diwaan, Managing Director of AFIN.
AFIN is a joint initiative of IFC, a member of the World Bank Group, the ASEAN Bankers Association (ABA), and the Monetary Authority of Singapore (MAS). Its mission is to “support experimentation and collaboration between regulated financial institutions and financial technology service providers”.
“The Monetary Authority of Singapore (MAS) is delighted to welcome Bridge+ and PwC to the growing APIX family. In addition to the online community offered through APIX, fintechs would require physical world services that can fast track and support their growth trajectory.,” said Sopnendu Mohanty, Chief FinTech Officer of MAS.
A part of CapitaLand, Bridge+ is the business space portfolio, offering flexible workspace solutions that combine modern office necessities with programming, connecting people through community events and programmes.
PwC is a network of firms in 158 countries with over 250,000 people who delivers assurance, advisory and tax services.