CBD Becomes First UAE Bank To Activate Open Finance For Customers

This has been done under AlTareq, the Central Bank of the UAE’s Open Finance initiative, and delivered in collaboration with CBUAE–licensed third-party providers (TPPs) Pay10 and Lean Technologies. Both TPPs are now connected and operational with CBD under the Open Finance framework.

According to CBUAE, Open Finance is a secure way for financial institutions to open their systems to accredited TPPs. Using customer-consented financial data to build applications and innovative financial services, it can create solutions that provide retail, SME, and corporate consumers with better ultimate control over their information.

“Ultimately, this system can offer customers greater choice in their financial services, and provide better service value”, the CBUAE said on its website.

CBD worked closely with its TPP partners throughout the live-proving phase to meet regulatory, technical and operational requirements set by the Central Bank.

First UAE bank to enable Open Finance

Dr Bernd van Linder, CEO of Commercial Bank of Dubai, commented: “CBD’s full-scale Open Finance activation places the bank at the centre of a fundamental shift in the UAE’s financial architecture.

“We are proud to be one of the first banks in the UAE to take a major step in creating a more connected ecosystem that gives customers greater control over their financial interactions. This step reflects CBD’s long-term focus on creating seamless, digital-first customer experiences that accelerate the UAE’s growth and empower residents with innovative and transparent financial solutions.”

Both CBD and its partner TPPs are now officially operational on Nebras, the operator of the UAE’s Open Finance infrastructure, under the oversight of the Central Bank of the UAE.

Harry Gill, Founder and Chairman of Pay10, said the go-live represents a tangible step in translating the UAE leadership’s Open Finance vision into real-world implementation, enabling secure and regulated access for customers while upholding the highest standards of compliance and trust.

Tewfik Cassis, Chief Product Officer of Lean Technologies, added: “This is a major milestone for Open Finance in the UAE. CBD’s activation demonstrates that the framework is ready to operate at bank scale in a live environment under Central Bank oversight. With CBD now fully live, Open Finance moves beyond readiness and into execution.”