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ADFIAP Open Finance Initiative project meeting unveils progress and roadmap for core banking system implementation

A group of people sitting at long tables

February 29, 2024, San Leonardo, Nueva Ecija: In a recent gathering of key stakeholders involved in the ADFIAP Open Finance Initiative project, significant strides were made towards the implementation of a cutting-edge core banking system. The meeting, held at the Headquarters of the New Rural Bank of San Leonardo, brought together industry experts, financial institutions, and technology partners to discuss progress, challenges, and the roadmap for the initiative.

Discussions centered on project timelines, milestones, and collaborative efforts with NRBSL, highlighting the commitment to deliver impactful solutions within set timeframes. A highlight of the meeting was a demo showcasing the substantial progress made in the new ADFIAPNET core banking system fund transfer. Integration with local payment gateways was also discussed, emphasizing seamless interoperability and improved accessibility of payment systems.

The roadmap for the San Leonardo project was unveiled, offering a comprehensive overview of the envisioned trajectory. Discussions included go-live plans and meticulous compliance requirements, with stakeholders addressing concerns to ensure adherence to regulatory standards.

Excitement surrounded details of the upcoming Cambodia Event: proof of concept Launching. Attendees were briefed on preparations, objectives, and expectations, with tasks assigned for successful execution.

The ADFIAP Open Finance Initiative aims to revolutionize the financial services sector by leveraging open banking principles and modern technology to enhance customer experience, streamline operations, and drive innovation. At the heart of this ambitious project is the implementation of a robust core banking system that will serve as the foundation for future digital transformation efforts.

Looking ahead, stakeholders are committed to working together closely to overcome challenges, address potential roadblocks, and drive the project towards successful completion. With the core banking system implementation at the forefront of their efforts, the ADFIAP Open Finance Initiative is poised to set new standards for the industry and deliver tangible benefits to customers and stakeholders alike.


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