Jordan Ahli Bank taps Fintech Galaxy to comply with open banking standards
Jordan Ahli Bank has partnered with Fintech Galaxy to leverage its Finx platform and comply with open banking and open finance regulations.
Jordan Ahli Bank partners Fintech Galaxy
Through Fintech Galaxy’s platform, Jordan Ahli Bank says its customers will be able to share their financial and banking data with third-party apps and make account-to-account transfers via APIs, while ensuring customer data is protected.
The bank says partnering with third party providers (TPPs) will also help it to reduce costs, drive revenue growth, and launch new products and services.
“This partnership will enable us to comply fully with open banking and open finance regulations and provide value-added services to our customers,” says Ahmad Al-Hussein, CEO of Jordan Ahli Bank. “Fintech Galaxy’s FINX Comply solution has allowed us to become open banking compliant in record time.”
Last November, UAE-based Fintech Galaxy had become the first central bank-regulated open finance platform in the Middle East and North Africa (MENA) region, after receiving a licence from the Central Bank of Bahrain.
A month later, it had also acquired Egyptian open banking platform Underlie for an undisclosed sum, in a bid to expand its regional open finance footprint.
