Emirates NBD Embraces Open Banking Through API Sandboxby Fintechnews Middle East 6. November 2018
Emirates NBD is jumping in on the open banking bandwagon through its debut of an API sandbox. The platform consists of over 200 APIs and 900 endpoints covering retail, corporate and SMEs.
The API Sandbox makes Emirates NBD more accessible to developers with API technology, boosting the bank’s ability to create increased for value for its customers.
Evans Munyuki, Chief Digital Officer at Emirates NBD, shared that the launch of this platform will enable fintechs from the region access to lucrative opportunities and provide them the right tools to turn their ideas into working prototypes which they can then test on real customers.
Developers will be able to access to over 3 million simulated customer transactions based on the BIAN (Banking Industry Architecture Network) model.
He also stressed that Emirates NBD has a very strict registration process covering compliance and security while ensuring alignment with potential partners’ goals. According to Emirates NDB, the platform follows Open Banking Standards that ensures security and privacy for its users.
So far, four FinTechs have already been on-boarded on the Emirates NBD API Sandbox to create proof of concepts on the bank’s platform.
Featured image credit: Emirates NBD Facebook