The first five fintech startups have successfully presented their product integration with the Emirates NBD API Sandbox.
Launched by the bank’s Future Lab in 2018, the Emirates NBD API Sandbox is a first in the region. Furthermore, the API Sandbox initiative forms part of Emirates NBD AED1bn digital transformation programme. The initiative runs in collaboration with DIFC FinTech Hive, the largest financial technology accelerator in the MEASA region.
Go deeper with GlobalData
The platform is open to developers and fintech firms and consists of over 200 APIs and 500 end points. It covers retail, corporate and SMEs. Developers also have access to over five million simulated customer transactions based on the BIAN (Banking Industry Architecture Network) model.
Emirates NBD API Sandbox Programme graduates
The five fintechs are as follows:
- Monimove
- Norbloc
- Gamechanger
- Leap Fintech
- Bankbuddy
Abdulla Qassem, Group CEO, Emirates NBD, says: “Emirates NBD is proud to certify five fintech startups in collaboration with DIFC FinTech Hive.
“We are confident that this initiative paves the path for many more collaborations in the future between banks and fintechs. It helps tackle various challenges while delivering a smarter and more secure customer experience in the process.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEvans Munyuki, Chief Digital Officer, Emirates NBD, adds: “Initiatives such as the Emirates NBD API Sandbox offer a secure and safe environment for fintechs and internal bank developers to innovate, collaborate, prototype, and accelerate speed to market using meaningful API calls and synthetic data samples.
“This even paves the way for inclusion of government partnerships with banks and fintechs.”
The programme is open to all registered fintechs in the DIFC FinTech Hive. It allows them to do their integration work, and present their integrated value propositions to senior leaders from Emirates NBD.
Consequently, it proves their technology’s ability to integrate with a real bank. In addition, it means there is a chance to pursue further collaboration with the bank.
Monimove is a digital trade finance/supply chain solution
The firm says that it is empowering business to approach credit and fund utilisation differently. Specifically, the Monimove platform offers customers a transparent way to track approved funds and optimise their liquidity management.
And users of the Monimove platform can issue credit or sign a contract to a broader range of contractors and suppliers and keep full control. .
Meet the five fintechs
Monimove is a digital trade finance/supply chain solution.
The firm says that it is empowering business to approach credit and fund utilisation differently. Specifically, the Monimove platform offers customers a transparent way to track approved funds and optimise their liquidity management.
In addition, users of the Monimove platform can issue credit or sign a contract to a broader range of contractors and suppliers and keep full control.
Norbloc, offers a shared know-your-customer (KYC) solution using distributed ledgers. In other words, using blockchain technology.
Leap Fintech is headquartered in Dubai and offers a white label technology platform enabling banks to digitise the onboarding process.
Lastly, Bankbuddy offers a chatbot for the financial industry. Specifically, it provides AI solutions to help financial institutions automate, analyse and assist stakeholder interactions.
