Fintech Galaxy: Acquires Egypt’s Underlie as it expands regional Open Finance footprint

Fintech Galaxy: Acquires Egypt’s Underlie as it expands regional Open Finance footprint

• Fintech Galaxy was founded in the United Arab Emirates as a global platform that fuels innovation in financial services
• Underlie is an Egypt-based Open Banking platform offering application programming interfaces (APIs) to banks
• Underlie’s local expertise in building Open Banking APIs will help speed up market penetration in Egypt
• The open Finance market in Egypt is expected to grow by 25% annually during the next 5 years
• Underlie’s customer-centric approach and ambition to understand the FIs’ needs and pain points to provide them
• The acquisition of Underlie anchors Open Banking/Open Finance efforts and enables us to succeed in providing enhanced