Manila, Philippines — July 29, 2024
The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and Synapsys Ltd. have signed a Memorandum of Understanding (MoU) to advance the open finance digital infrastructure known as ADFIAPNET. This strategic collaboration aims to enhance financial services and promote sustainable economic development across the Asia-Pacific region.
About ADFIAP
ADFIAP is a regional organization representing 92 development banks and financial institutions across 41 countries. ADFIAP’s mission is to foster economic growth by providing innovative financial solutions. ADFIAPNET, a data-sharing financial ecosystem, was officially launched during the 47th Annual Meetings in Cambodia on May 16, 2024.
About Synapsys Ltd.
Synapsys Ltd., a fully-owned subsidiary of DFCC Bank PLC, with over 18 years of industry experience, Synapsys specializes in cutting-edge technology solutions for banks, capital markets, insurance, and retail payments. Their expertise combines deep business insights with software development excellence, serving both local and international clients.
The ADFIAPNET Project
ADFIAPNET is a data-sharing financial ecosystem designed exclusively for ADFIAP members. The platform allows members to engage in mutually beneficial data-sharing arrangements for transactional data within the ecosystem. Synapsys commits to sharing its technological expertise and contributing advanced technologies to ADFIAPNET. This collaboration targets integrating Synapsys across all ADFIAPNET initiatives and technology solutions, promoting innovation and efficiency among ADFIAP members.
“We are excited about this collaboration,” said Mr. Enrique I. Florencio, Secretary General of ADFIAP. “ADFIAPNET will revolutionize financial services, enabling seamless data exchange among member DFIs.”
Mr. Dinesh Fernandopulle, CEO and Managing Director of Synapsys Ltd., added, “Our partnership with ADFIAP aligns perfectly with our commitment to digital innovation and financial inclusion. Together, we will drive positive change in the development finance sector.”
For further inquiries or partnership, please contact ADFIAP: [email protected]