Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has announced a strategic partnership with fintech collaboration platform, APIX Singapore. The partnership will provide Emirates NBD access to APIX’s network of financial institutions and fintechs in Asia-Pacific along with their real-time APIs.
Launched by The ASEAN Financial Innovation Network (AFIN), 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.
The partnership with APIX will give Emirates NBD access to early and later stage fintechs in Singapore, driving key discussions in new business models, regulation, public-private collaborations, and transforming the financial technologies framework. Emirates NBD will also gain access to APIX’s catalogue of member APIs along with templates and API connectors and tools, to support rapid design and prototyping of new products.
Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore, said, “We are confident that with this partnership, our organizations will succeed in our endeavours in building a stronger ecosystem while reducing technological risk and cost by leveraging APIX’s global fintech community and readily available cloud infrastructure.”
