FinTech Galaxy, a regional central bank-regulated Open Finance platform, has announced the onboarding of over 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. Moreover, the use of open APIs will enhance digital identity verification and fraud detection processes, leading to safer and more reliable online transactions.
Sympl, Synapse Analytics and Valify are some of the newly-onboarded FinTechs to the Open Finance platform – FINX. By tapping into Open Finance capabilities, they will have access to a vast array of financial data, which enables FinTechs to offer personalised services, expand their customer base and streamline operations.
Additionally, Open Finance fosters collaboration with financial institutions, promotes innovation and opens up new revenue streams. Open Finance essentially 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.
This 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.
“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. 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”said Mirna Sleiman, Founder & CEO, FinTech Galaxy.
FinTech Galaxy continues to champion the growth and acceleration of FinTech companies, connecting the dots between FinTech start-ups, 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.
Its innovative Open Banking/Open Finance solutions are not just reshaping the future of the financial sector but also redefining boundaries for FinTechs worldwide.
As we transition into 2023, FinTech Galaxy is set to foster more partnerships and growth in the global finance ecosystem. Our focus extends beyond FinTech firms to include a diverse range of clients, such as merchants and other key stakeholders. We aim to provide them with a robust, secure Open Finance platform, opening up new opportunities and empowering them to enhance their financial services worldwide.
