QNB first bank in Qatar to launch Open Banking platform – The Peninsula

QNB first bank in Qatar to launch Open Banking platform – The Peninsula

Doha: QNB, the largest financial institution in the Middle East and Africa, has announced its launch of Open Banking platform for a wider audience including the Bank’s customers, partners and emerging fintechs in Qatar.

QNB is the first bank in Qatar and one of the first in the region for launching Open Banking services. With this enhanced API infrastructure, the bank will provide a unique banking experience to its customers allowing them to access its core banking systems securely.

Announcing the launch, Adel Al Malki, General Manager of QNB Group Retail Banking stated: “QNB has been exploring the space of Open Banking since much earlier; our partnership with Ooredoo on the Ooredoo Money is a classic example for both open banking and fintech partnership in providing financial services for the masses”.

“We implemented this almost 10 years ago and it has now become a case study where wallets operated by a telecom have access to multiple banking facilities like virtual IBAN, Virtual MasterCard, Payroll Solution, Local and International Remittances and other services. It is important to note that these products offered by QNB and Ooredoo are first of their kind in the region, and at times in the world,” he added.

Open Banking aims