The agreement envisages seeking joint innovation opportunities in artificial intelligence and open banking
Open Banking
Latest in Open Banking
API
MENA must end screen scraping to protect consumers
Fidelity’s recent decision to address data vulnerability through screen scraping has sparked a critical conversation about balancing fintech’s rapid growth with consumer interests
financial institutions
Saudi Central Bank launches ‘Open Banking Lab’ to promote innovation in the county
The lab will provide banks and fintechs a technical testing environment to enable them to develop, test, and certify their open banking services to ensure compatibility with the Open Banking Framework
financial institutions
Wally Global Arabia, Istishraf Al-Bayanat among new companies approved by SAMA for open banking solutions
The latest approvals take the total number of permitted firms operating under SAMA’s Regulatory Sandbox to 42
Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank looks to lead UAE’s open banking revolution and boost fintech solutions
Third-party providers such as payment initiators, account aggregators, and other fintechs will now be able to deliver new digital services to meet customer and market expectations using ADIB’s platforms
Abdulla Almoayed
Tarabut Gateway announces four partnerships as open banking set to launch in Saudi Arabia
Kingdom has announced its ambition to go cashless, aiming for 70 percent non-cash transactions by 2030
B2B businesses
Could ‘gamification’ help corporate banks improve customer loyalty?
Gamification is the use of game-like mechanics in non-game contexts to engage users and motivate them to achieve their goals
Abdulla Almoayed
DIFC’s Tarabut Gateway becomes UAE’s first regulated Open Banking platform with DFSA license
The license marks the first time the DFSA has authorised a firm to provide account information services (AIS) and payment initiation services (PIS) activities
API-as-a-Product (AaaP)
How open are UAE bankers to the idea of Open Banking?
Open banking will help financial institutions to better shoulder heavy burdens of attracting customers and providing them product and services. Banks will be able to offload tasks such as product development, sales, marketing, operation, innovation, and even competition to ecosystem partners
Brand-as-a-Service (BaaS)
Banking as a service: The $7 trillion opportunity
Companies are already using banking as a service platforms to build deeper connections with their customers and build brand loyalty
Open Banking
Open banking provides opportunities for consumers, financial institutions and fintechs
Open banking is empowering customers to do more within their bank’s financial ecosystem, as well as promoting innovation, competition, and financial inclusion amongst large and SME financial institutions, shares expert
banking industry
Why the future of corporate banking is digitally-powered and platform-driven
Evolving customer expectations and the need for digitisation has forced corporate banks to shift away from traditional relationship models and embrace the digitally-enabled platform approach
DIFC FinTech Fund
Tiger Global makes latest bet on open banking with Middle East deal
Funding will help fintech firm Tarabut Gateway expand its open banking platform into Saudi Arabia and North Africa
Banking trends
How open banking can drive the future of finance
Bringing together financial solutions could unlock radical collaboration and combinations to develop a frictionless experience for customers
banking business
UAE banks see bricks-and-mortar branches surviving despite global pessimism
Research shows 65% of global banking executives believe that branch-based banking will be ‘dead’ within five years
Banking sector
The future of money is open banking
Banks have been transforming for years, and the black swan events of the financial crisis and now the pandemic have only accelerated that transformation
fintech
From open banking today to open finance tomorrow
Mirna Sleiman, CEO of Fintech Galaxy, explains how sectors such as education, manufacturing and healthcare can benefit from an API-based financial layer