Jordan Ahli Bank taps Fintech Galaxy to comply with open banking standards
- Partnership Announcement: Jordan Ahli Bank has partnered with Fintech Galaxy to utilize its Finx platform for open banking and open finance compliance.
- Data Sharing and Transfers: Through Fintech Galaxy’s platform, Jordan Ahli Bank customers can share financial and banking data with third-party apps and conduct account-to-account transfers via APIs, ensuring data protection.
- Benefits of Partnership: Jordan Ahli Bank aims to reduce costs, drive revenue growth, and introduce new products and services by collaborating with third-party providers (TPPs).
- Regulatory Compliance: The partnership facilitates compliance with open banking and open finance regulations, with Ahmad Al-Hussein, CEO of Jordan Ahli Bank, emphasizing the speed of achieving compliance using Fintech Galaxy’s FINX Comply solution.
- Fintech Galaxy’s Achievements: Fintech Galaxy, based in the UAE, became the first central bank-regulated open finance platform in the Middle East and North Africa (MENA) region. Additionally, it acquired the Egyptian open banking platform Underlie to expand its regional open finance presence.