Fintech Galaxy, one of the MENA’s regulated open Finance platform, has onboarded more than 10 Egyptian fintechs. The open APIs provided by Fintech Galaxy’s FINX platform will foster a host of innovative use cases for the onboarded fintech companies.
The integration will enable fintechs to offer services such as flexible buy-now-pay-later schemes, personalised, AI-driven financial services, accurate credit scoring, risk assessment, and predictive financial management tools.
The use of open APIs will enhance digital identity verification and fraud detection processes, leading to safer and more reliable online transactions.
“We are excited to empower Egyptian fintechs to make the leap to the wider MENA market with our API platform and help to drastically simplify financial management for individuals and corporates around the region,” said Mirna Sleiman, Founder & CEO of Fintech Galaxy.
“These partnerships will enable companies to leverage the FINX platform to fuel their growth, expand their reach beyond their home market, and develop innovative services that are efficient and compliant with global open banking standards.”
Sympl, Synapse Analytics and Valify are some of the newly-onboarded fintechs to the open finance platform – FINX. By tapping into open finance capabilities, the fintech firms will have access to a vast array of financial data, which enables the companies to offer personalised services, expand their customer base, and streamline operations.
Open finance fosters collaboration with financial institutions, promotes innovation and opens up new revenue streams. It acts as a catalyst, empowering fintechs to reshape the financial landscape, democratize access to financial services, and drive the digital transformation of the industry.
FINX is an open banking/open finance API platform that integrates with multiple banks’ APIs through a single API gateway, designed to support the growth of fintech companies by enabling account information and payment initiation.
The platform empowers fintechs with advanced tools and resources to navigate the complexities of the financial industry while providing them with a secure and regulatory-compliant environment for their operations.
Fintech Galaxy continues to champion the growth and acceleration of fintech companies, connecting the dots between fintech startups, e-commerce merchants and retailers, financial institutions, insurance companies, investment and wealth management firms, payment service providers, tech companies, regulators, and investors on a global scale.
