Bud Financial Partners with Fintech Galaxy to Advance MENA's Open Banking

Bud Financial Partners with Fintech Galaxy to Advance MENA's Open Banking 

Bud Financial (Bud), a data intelligence platform, is teaming up with Fintech Galaxy, an Open Banking and financial compnay, to fortify the Open Banking landscape in the MENA region. Their aim is to revolutionize how financial institutions (FIs), FinTechs, and businesses incorporate and utilise customer data.

This partnership is founded on a shared vision to harness the potential of Open Banking and data intelligence, delivering unparalleled insights into customer behaviour and financial requirements. Bud and Fintech Galaxy will merge advanced, AI-powered data enrichment techniques with the Open Finance FINX Platform, empowering FIs to craft financial experiences that resonate deeply with individual needs.

This collaboration is geared towards providing tangible benefits to banks and FinTechs, encompassing:

Personalised Products and Experiences: Financial service providers can now offer bespoke products such as personal financial management apps, loans, savings accounts, and investment plans tailored to individual financial behaviour and needs.

Enhanced Access to Credit: With a comprehensive understanding of a customer's financial history and habits, lenders can develop more precise credit scoring models and streamline their affordability decision-making, mitigating risk and opening new avenues for underserved markets.

Customised Money Management Features: Providers of apps and digital services can integrate financial insights to offer personalised budgeting advice, aiding consumers in managing their finances more effectively.

"This partnership signifies a stride towards a future where finance is welcoming, accessible, and genuinely supportive," says Mirna Sleiman, Founder and CEO of Fintech Galaxy. "We are committed to creating a world where financial services adapt to individuals rather than the other way around."

Echoing this sentiment, George Dunning, Co-Founder and COO of Bud Financial, comments, "We are excited to announce our collaboration with Fintech Galaxy. This partnership is a significant milestone for Bud, as we introduce our proven transaction enrichment capabilities to enhance the open banking experience in the region. The fusion of Fintech Galaxy's robust open banking infrastructure and Bud’s innovative data intelligence will enable banks and fintechs in the Middle East to unlock the full potential of customer transaction data. This initiative builds upon our successful track record in the UK and US markets, underscoring Bud's commitment to delivering its best-in-class data intelligence suite globally. We eagerly anticipate contributing to the burgeoning fintech ecosystem in the Middle East and reshaping the way financial institutions utilise their data for the benefit of both customers and businesses."

The partnership between Bud and Fintech Galaxy extends beyond the introduction of new technology. It represents a reimagining of financial services in the MENA region, making them more tailored, engaging, and responsive to genuine needs.

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