UAE Business: Adib to help lead ‘open banking’ revolution for the UAE – Gulf Digital News

UAE Business: Adib to help lead ‘open banking’ revolution for the UAE – Gulf Digital News

Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution, has launched its first Application Programming Interface (API) developer portal, allowing fintech developers to use Adib APIs.

The new Adib API Developer portal will drive Open Banking in the market, allowing fintech developers to build new products that interact seamlessly with Adib’s platforms, an Adib release said.

This means that Adib customers will be able to connect a new world of secure apps and services to their banking easily, including the ability to see accounts held with other providers through their Adib mobile app.

UK Open Banking standards

Adib's Open Banking API platform follows UK Open Banking standards. It aims to provide a range of data to access, use and share by Third-Party Providers (TPPs) such as payment initiators, account aggregators, and other fintechs to deliver new digital services to meet customer and market expectations.

Open Banking also offers customers more control over their financial data. The portal complies with the highest international standards on data privacy, ensuring the security of customers’ personal data.

Adib API developer platform comes as part of Adib’s vision to become the world’s most innovative Islamic bank. It fully embraces the opportunities of Open Banking which has the potential to revolutionise