AFIN Leverages Data Center Giant Equinix To Offer Enhanced Open Banking Infrastructureby Fintech News Singapore August 19, 2021
Data center giant Equinix announced that the ASEAN Financial Innovation Network (AFIN) would leverage its platform to accelerate financial services innovation in Singapore and the global fintech ecosystem.
The collaboration will provide a dedicated on-premise API Exchange (APIX) sandbox on Equinix’s platform for financial institutions (FIs).
This offers fintechs a fast-provisioning and affordable, enterprise-grade, cloud-like, single tenanted hardware for production services.
APIX on Equinix Metal, which streamlines and facilitates infrastructure connectivity and integration, will enable FIs and fintechs to deploy their sandboxes as well as production services on cloud-like single tenanted hardware.
FIs and fintechs will also be able to scale on-demand at speed and interconnect physically and virtually to Equinix’s financial services ecosystem that consists of more than 1,800 networks, 3,000 cloud and IT service providers and 1,100 financial services companies across 64 global cities.
Additionally, FIs and fintechs can ensure that they remain compliant to the ever-changing compliance regulations.
Equinix‘s commitment to reaching climate-neutral globally by 2030 also strengthens AFIN’s shared sustainability agenda.
APIX is a cross-border, open-architecture API marketplace and sandbox for collaboration between fintechs and financial institutions by AFIN which was founded in 2018.
It now hosts hundreds of FIs who are actively using APIX to run proof of concepts in a fail-safe environment.
Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore said,
“Equinix’s secure and scalable infrastructure will provide fintechs partnering with FIs an option to effectively manage technology risk in the financial sector.
Further, Equinix will also host APIX Sandbox for FIs looking for on-premise scaled innovation infrastructure.