Jordan Ahli Bank taps Fintech Galaxy platform for Open Banking

By Delisha Fernandes

Jordan Ahli Bank has joined forces with Open Banking and financial innovation firm Fintech Galaxy to fully comply with Open Banking and Open Finance regulations.

Leveraging Fintech Galaxy’s FINX platform, the bank will ensure the utmost security and protection for customer data, empowering them to safely connect their accounts to TPP apps and have a comprehensive view of their transactions.

“We are thrilled to have partnered with Fintech Galaxy for Open Banking and Open Finance compliance,” said Ahmad Al-Hussein, CEO of Jordan Ahli Bank. “With Fintech Galaxy’s innovative Open Banking solutions, we can now offer our customers the freedom to share their financial and banking data with third parties, leveraging API technology. This partnership will enable us to comply fully with Open Banking and Open Finance regulations and provide value-added services to our customers.”

By becoming Open Banking compliant, Jordan Ahli Bank will be able to offer better rates and value-added services to their customers. Collaborating with third-party providers (TPP) also will help Jordan Ahli Bank reduce costs and increase revenue, while leveraging the expertise and capabilities of these providers to create new and innovative products and services.

Fintech Galaxy’s FINX platform will enable the bank to effortlessly align with Open Banking regulations while delivering exceptional value to their customers and adhering to robust security measures to safeguard customer data, cultivating trust and security.

The bank will leverage the FINX Open API Gateway with out-of-the-box compliance with Account Information Service (AIS) and Payment Initiation Service (PIS) APIs, Third Party Provider (TPP) Management, and Consent Management based on regional standards.

“Our partnership with Jordan Ahli Bank is a significant milestone for Fintech Galaxy. We believe that Open Banking and Open Finance are the future of financial services, and we are committed to supporting financial institutions in the MENA region as they innovate and redesign the future of financial services.” – said Mirna Sleiman, Founder and CEO of Fintech Galaxy.