Al Etihad Payments partners Core42 to launch open finance across the UAE

-

 

The  Etihad Payments, the payments subsidiary of the Central Bank of the United Arab Emirates (CBUAE), has entered into a strategic partnership with Core42 to lead the rollout of open finance across the UAE financial system. 


Operating as part of the CBUAE's multi-year Financial Infrastructure Transformation program, Al Etihad Payments and Core42 will work closely together to establish global interoperability standards for the emerging open finance sector in the country. Their goal is to launch initial open banking and open insurance solutions that will be made accessible to the vast majority of individual customers and businesses in the UAE by the end of 2024. 


Core42, which is part of Abu Dhabi-based AI firm G42, will provide the core technology infrastructure and consulting services to modernize financial data sharing and third-party access in accordance with open finance principles. UK-based open banking API specialists Ozone API and Raidiam will also contribute their expertise as part of a technology consortium led by Core42 to support the CBUAE's vision.


 Officials believe the new open finance ecosystem will help accelerate the adoption of digital financial services nationwide while simultaneously making products and data more safe, diverse and customer-centric. Once complete, the initiative aims to establish the UAE as a leader in Open Finance among Gulf and Middle Eastern markets.

Comments

Post a Comment

Popular posts from this blog

14 incredible places in the UAE you need to visit at least once

-
Image
  United Arab Emirates is one of the most beautiful country to visit. Anyone who came here to visit once they always want to come here again, because here are so many places to visit and make your days memorable, but there are so many people doesn’t even know about it. Here are these places of UAE 🇦🇪 people must visit once in life. Snoopy Island, Fujairah : Snoopy Island is a marine paradise offering some of the best snorkeling in the GCC. Turtles, fish every colour of the rainbow, and even little white-tip reef sharks have made this sparkling cerulean sea their home. Aquaventure Waterpark, Atlantis The Palm Aquaventure is a Dubai day out worth braving the summer heat for. Across three super-sized towers there’s more than 100 rides to discover, whether you’re just looking to chill out on the rapids, or face your fears on The Leap Of Faith. Jebel  Ras al Khaimah Jebel Jais  is the highest mountain peak in the region and is home to a number of fun adventurous activities. ...
Read more

UAE, Pakistani FMs discuss cooperation, strategic partnership

-
Image
  His Majesty Sultan Haitham bin Tariq of Oman's state visit to the UAE signifies a pivotal moment in the longstanding bilateral ties between the two nations, ushering in a new chapter of cooperation and mutual understanding. Today, amidst the grandeur of Abu Dhabi's Sheikh Zayed Grand Mosque, Sultan Haitham was graciously welcomed by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, exemplifying the spirit of hospitality and friendship that characterizes relations between Oman and the UAE. Against the backdrop of this architectural marvel, Sultan Haitham offered prayers for the continued progress and prosperity of both countries and their people, reflecting the shared aspirations for peace, stability, and development in the region. His visit serves as a testament to the deep-rooted historical, cultural, and strategic bonds between Oman and the UAE, reaffirming their commitment to enhancing cooperation across various sectors. As Sultan Haitham engages ...
Read more

Strengthening China UAE Ties through Joint Cooperation on the Belt and Road Initiative

-
Image
China and the United Arab Emirates want to strengthen their cooperation on China's Belt and Road Initiative BRI. The BRI aims to improve connectivity and cooperation between Eurasian countries. Chinese Vice President Wang Qishan recently met with UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum in Dubai. They discussed ways for China and the UAE to jointly promote the BRI.  Both countries see opportunities to collaborate on infrastructure projects related to transport, ports and trade under the BRI. As a major trade and business hub, the UAE can help connect China to other parts of Asia, Africa and Europe. China wants to deepen cooperation with the UAE on projects like highways, railways and free trade zones. This will help goods and services move more easily between China and regions involved in the BRI. By working together on the BRI  China and the UAE hope to boost economic growth and development. Successful infrastructure projects bring jobs and business opportunit...
Read more