Fintech Galaxy, a Central Bank-regulated Open Finance platform in the Middle East, acquired Underlie, an Open Banking platform offering APIs to banks and businesses.
The deal will help to set FTG’s Open Finance and Open Banking wheels in full motion across the region, develop and launch new digital solutions and push financial inclusion forward.
“The acquisition of Underlie anchors our Open Banking/Open Finance efforts and enables us to succeed in providing enhanced, seamless, and enjoyable financial experiences, expanding, and consolidating our position across the MENA markets. Cross-border collaboration is key to moving the needle on financial inclusion in Egypt and beyond,” Mirna Sleiman, CEO and Founder of Fintech Galaxy, said.
Fintech Galaxy is currently present in the UAE, KSA, Bahrain, Egypt, Lebanon, and Moldova, and has goals to broaden its offering for banks, financial institutions, merchants, and FinTechs and to build the most secure, reliable, and developer-friendly Open Finance platform across the MENA region and beyond.
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