National Payments Corporation of India (NPCI) has partnered with APIX, a FinTech collaboration platform setup by AFIN, at the first-of-its-kind virtual Global FinTech Fest 2020.
As part of this partnership, NPCI will collaborate with financial institutions as well as FinTech companies in the APIX network to accelerate their digital growth and product journey. With this partnership, NPCI also seeks to conduct multiple hackathons throughout the year on the APIX platform and identify path-breaking FinTech solutions which can help scale up the digital payments space.
The partnership with APIX is beneficial in two-ways. First, APIX is a platform which focuses on incubating innovations and extending support to growing FinTechs globally. This resonates with NPCI’s goal of democratising the access of technological innovation to create a favourable environment for FinTechs to thrive. Second, NPCI is exploring international expansion plans, and its collaboration with APIX will pave the way for global financial inclusivity.
Arif Khan, CDO, NPCI said, “We believe the NPCI-APIX association will transform the payments industry and provide a platform for developing ground-breaking innovative digital solutions. Through our hackathons and other engagements on the platform we hope to act as a catalyst to bring in significant technological change in the fast growing BFSI and FinTech ecosystem and help create a digital tomorrow.”
Damien Pang, Deputy Chief FinTech Officer, Monetary Authority of Singapore and board member of AFIN said, “We look forward to working closely with NPCI to achieve our common goals of driving financial innovation and inclusion for the global FinTech ecosystem. With NPCI’s hackathons and APIs hosted on APIX, FinTechs will have wider opportunities to solve real-world challenges in the financial services space, and make a difference to cross-border payments.”