Pay10 and Commercial Bank of Dubai (CBD) have successfully launched Open Finance services under the UAE’s AlTareq initiative.
Through this implementation, CBD’s retail current and savings accounts can now connect via the UAE’s Open Finance framework, allowing customers to securely share data and initiate payments in accordance with Central Bank of the UAE regulations.
This represents one of the first large-scale retail deployments of Open Finance in the UAE.
CBD partnered with Pay10, the first entity licensed under the UAE’s Open Finance framework, to carry out the launch.
Together, the organisations have conducted live transactions in a production environment, confirming technical integration, operational readiness, and end-to-end data and payment flows.
Nebras, the Central Bank-supervised Open Finance platform, enabled the activation and ensured that all regulatory, technical, and operational requirements were met.
Commenting on the launch, Harry Gill, Founder and Chairman of Pay10, said:
“The full-scale go-live represents a tangible step in translating the UAE leadership’s Open Finance vision into operational reality, enabling secure and regulated customer access while upholding the highest standards of trust, governance, and compliance.”
Dr Bernd van Linder, CEO of Commercial Bank of Dubai, added:
“CBD’s full-scale Open Finance activation places the bank at the centre of a fundamental shift in the UAE’s financial architecture.”
Pay10 and CBD plan to expand Open Finance use cases, monitor performance at scale, and support broader customer adoption in line with the UAE’s AlTareq initiative.
Featured image credit: Edited by Fintech News Middle East, based on image by Wael Hneini via Unsplash
