Pay10 Pioneers UAE's Open Finance Revolution with CBUAE Framework Launch
In a groundbreaking move, Pay10 has become the first entity to go live on the Central Bank of the UAE's (CBUAE) open finance framework, marking a significant milestone in the region's financial landscape. With its new license, Pay10 gains secure, real-time access to consumer bank accounts, enabling the delivery of seamless third-party financial services. This development sets the stage for broader innovations in areas such as embedded finance, open banking, and financial technology (fintech), ultimately enhancing the overall banking experience for consumers. As the UAE's financial sector continues to evolve, Pay10's pioneering effort is expected to pave the way for increased collaboration and innovation among financial institutions, driving growth and competitiveness in the market. By leveraging the open finance framework, Pay10 is poised to introduce new services and solutions that cater to the changing needs of consumers, further solidifying its position as a leader in the financial services industry.
