Phnom Penh, Cambodia: The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) proudly launched its new online platform, ADFIAP.NET, during its 47th Annual Meetings in Phnom Penh, Cambodia. This significant event marked a milestone in the organization’s ongoing commitment to fostering collaboration, knowledge sharing, and innovation within the development finance community.

ADFIAP unveiled the ADFIAPNET service unit alongside the launch of this platform, aiming to boost collaboration among members and regulators through the Open Finance Initiative. This initiative is designed to create clear open financial solutions, enhance financial inclusion using digital tech and robust data security, spur innovation, empower consumers, and propel sustainable development goals.

Mr. Abundio D. Quililan Jr., President and CEO of New Rural Bank of San Leonard, highlighted how ADFIAPNET is bridging the gap with a subsidized digital platform tailored to the needs of smaller players. New Rural Bank of San Leonard, committed to sustainable banking, is embracing digitization through ADFIAP.NET to transform agriculture value chain financing. The call to action is for industry-wide collaborations to maximize the benefits of sustainable finance by sharing data, ensuring inclusive growth, and promoting financial empowerment. ADFIAP members, like NRBSL, can take advantage of an exclusive offer: upgrading their outdated legacy systems with core banking software, completely free of charge.

Jane M. Manucdoc, the Executive Director of Alalay Sa Kaunlaran Microfinance Social Development Inc. (ASKI), discussed ASKI’s digital transformation and cybersecurity strategies. She emphasized how ADFIAPNET is aiding ASKI in evaluating their digitalization approaches, addressing data sharing security challenges, and implementing cybersecurity measures. Ms. Manucdoc underscored cybersecurity’s critical role in fostering trust, innovation, and advancement in open finance, highlighting ADFIAPNET’s support in this domain.

Here’s what members can get now:

● IT Consulting and Audit: Includes strategic IT consulting, cybersecurity audits, regulatory compliance checks, and system audits to enhance IT governance, risk management, and compliance standards for financial institutions.
● Technology Solutions Development: Specializes in creating innovative tech solutions for the financial sector. This includes blockchain solutions for transparent transactions, AI and machine learning tools for analytics and customer service, and RegTech solutions for automated compliance management.
● Fintech Application Development and Integrated Services: Involves creating custom applications, modernizing legacy systems, and managing APIs to ensure seamless functionality within the financial institution’s technological environment.
● Infrastructure Development and Managed Services: Encompass planning, implementing, and managing IT infrastructure, including cloud services, network security, data centers, and ongoing IT support for optimal performance and security.

For more information about ADFIAP.NET and to explore its features, visit www.adfiap.net