Fintech Galaxy has secured CBUAE in-principle approval to operate as a UAE Open Finance provider, combining financial data, AI, and embedded finance. The approval places the firm among the country's homegrown companies progressing through the regulatory framework for secure, consent-based financial data sharing.
Advancing the UAE Open Finance Ecosystem
Once fully licensed, Fintech Galaxy plans to combine Open Finance connectivity, AI-powered financial intelligence, and digital business finance tools in a single platform. The offering will help banks, financial institutions, and fintech develop more intelligent customer experiences, accelerate product innovation, and create new revenue opportunities.
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“This is not simply the next chapter for Fintech Galaxy. It is the beginning of a much bigger opportunity for financial services in the UAE and the wider region.” — Mirna Sleiman, Founder and CEO, Fintech Galaxy
The IPA comes as Open Finance becomes an increasingly important part of the UAE's digital financial infrastructure. Unlike traditional models, this framework enables customers to give regulated providers consent-based access to information to support automated payments and AI-powered financial analysis.
Scaling AI and Business Financial Management
Fintech Galaxy aims to build on this infrastructure by combining connectivity with artificial intelligence. The company said its platform will enable financial institutions to move beyond simply accessing data toward turning that information into actionable insights.
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Small and medium-sized businesses are expected to be a major focus of this strategy. The company is developing a Business Financial Management platform that brings together banking, invoicing, payments, reconciliation, cash-flow management, and embedded financing within a single digital experience.
The platform is designed to help SMEs automate routine operations and make faster, data-driven financial decisions. This is particularly relevant in the UAE, where the SME sector plays a significant role in economic activity.
Regulatory Path and Regional Impact
The IPA does not mean Fintech Galaxy is already fully licensed to operate. The company will need to complete the remaining regulatory requirements before receiving its full licence, but this milestone provides a clear pathway into the emerging ecosystem.
Fintech Galaxy's regulatory milestone matters beyond the UAE because Open Finance could become a building block for the next generation of financial services across MENA. The development is particularly relevant for SMEs, which often face fragmented operations and limited access to tailored products.
As more MENA markets develop their own open banking frameworks, companies with experience operating within regulated environments will be better positioned to scale. Fintech Galaxy's progress is a clear signal of the shift toward making financial data connected, intelligent, and actionable.
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