PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

602263

Primary Business Area

Financial Institutions Group

Disclosure Date

Aug 12, 2019

Country

Viet Nam

Region

East Asia and the Pacific

IFC Approval Date

Jul 4, 2018

Status

Active

Estimated Total Budget

$2,536,101.00
(Project budget includes all project-funded activities)

Last Updated Date

Sep 10, 2019

Project Estimated Start Date

Jul 1, 2018

Project Estimated End Date

Dec 31, 2020

Project Description

ASEAN Financial Innovation Network ("AFIN") will create and operate a market platform and technical environment that enables FinTechs to scale their businesses regionally, helping Financial Institutions ("FIs") benefit from more competition and a robust ecosystem of FinTech solutions. At the core of AFIN will be a FinTech marketplace and Sandbox (e.g. systems and user testing) environment for FIs to access, develop, and design new or improved financial products/services. AFIN will set up this platform, establish legal and commercial service relationships with FinTechs and FIs, and help create a dynamic community of FIs, FinTechs, developers, and regulators that accelerate regional innovation and adoption.

Development Results

E&S Risks / Impacts and Mitigation