Fintech Galaxy becomes 1st central bank regulated Open Finance platform in MENA

Fintech Galaxy becomes 1st central bank regulated Open Finance platform in MENA

Fintech Galaxy, the Dubai-based industry-leading financial innovation company, has become the first central bank regulated Open Finance platform in the MENA region after receiving a license from the Central Bank of Bahrain (CBB), to operate as a regulated Third-Party Provider (TPP) and transform the way banks, financial institutions and merchants attract new customers.

The Account Information Services Provider (AISP) license enables the company to integrate its Open Finance API platform, FINX, into multiple bank APIs through a unified interface, providing secure and consent-driven access to enrich customers’ account information.

Operating in full compliance with Bahraini Open Banking Standards and alignment with the European Union’s PSD2 regulations and UK best practices, the license will help banks, financial institutions and merchants widen their customer base and provide innovative product offerings.

These include a 360-degree view of a customer’s financial footprint to financial planning, budgeting and savings goals tailored to the end-users financial behavior. Consumers also benefit by gaining faster, seamless access to other platforms and products that meet their unique needs and circumstances.

Mirna Sleiman

CEO & Founder

Fintech Galaxy “By getting the FINX platform licensed as a TPP in Bahrain, our vision as a regulated Open Finance platform is moving the needle on financial inclusion. It is