Open Banking: An Overview of How the Middle East is Preparing for the Future of Banking

Open Banking is gaining prominence in the Middle East, and technology is a key driver of this growth. Open banking is a step away from traditional banking towards modern API-driven banking processes. It brings huge benefits to banks, businesses, and customers. An API-based approach allows interconnection between these entities, making banking-related activities effortless.

We can see many governing bodies in the Middle East already taking proactive steps to prepare themselves for a technology-driven banking future. States like Saudi Arabia, Bahrain, and the UAE have already introduced regulatory laws to incorporate Open Banking into the daily lives of their people.

This eBook will give an overview of:

 Introduction to Open Banking and its benefits for businesses, customers, and banks

 How a platform-based approach with API as a core is allowing banks to efficiently run banking processes as well as cut costs

  Country-wise breakdown of Open Banking in the middle east with a background and the governing body