The Asean Financial Innovation Network (Afin) has launched API Exchange, a cross-border marketplace and sandbox for financial institutions and fintech firms to work together on financial inclusion projects. The organisation has put together a consortium led by IT firm Virtusa, and which includes German digital bank Fidor, which is a SME Finance Forum member, as well as data specialist Percipient, to develop and operate Apix.

Matthias Kröner, CEO, Fidor, adds: "This ambitious project will fuel innovation, increase collaboration between banks and fintechs and ultimately enable greater financial inclusion across the Asean region."