Fintech Galaxy has received in-principle approval from the Central Bank of the UAE to operate as an Open Finance provider.
The company said the approval places it among the first home-grown firms in the UAE to reach this stage of the Open Finance licensing process, marking a step in its wider strategic transformation.
The approval allows Fintech Galaxy to take part in Al Tareq, the UAE's Open Finance scheme. Al Tareq establishes a regulated framework for consent-based financial data sharing and service initiation across the country's financial sector. Once Fintech Galaxy obtains full licensing, it plans to launch an integrated platform combining Open Finance connectivity, AI-based financial intelligence, and digital business finance tools. In addition, the company said the platform is intended to help financial institutions and fintechs in the region introduce new services and identify additional revenue opportunities.
Mirna Sleiman, Founder and CEO of Fintech Galaxy, said the approval follows a year focused on strengthening the business, upgrading its technology, and aligning its strategy with developments in financial services. It was also added that CBUAE guidance during the licensing process supported the company's shift toward Open Finance and AI-based services, and referenced the UAE's broader digital economy objectives as part of that direction.
SME-focused business finance platform
According to the official press release, Fintech Galaxy is also developing a Business Financial Management platform aimed at small and medium-sized enterprises (SMEs). The platform is designed to bring together banking, invoicing, payments, reconciliation, cash-flow management, and embedded financing within a single system. Furthermore, the aim is to help SMEs automate financial operations, manage liquidity, and support financial decision-making.
Open Finance and industry context
Open Finance frameworks are increasingly used across financial markets to support secure data sharing, embedded financial services, payment initiation, and AI-driven applications. Fintech Galaxy said it intends to operate across these areas, working to connect financial data with services aimed at generating financial intelligence for both consumers and businesses.
The company said it plans to work with regulators, financial institutions, other fintechs, and ecosystem partners as Open Finance in the UAE develops from a data-connectivity model toward broader financial infrastructure.
