|06 May, 2019

Aion Digital signs open banking partnership deal

The Open Bank Project provides an on premise modern and standards-based technology stack, tested, used and approved by global tier 1 banks

(Manama, Bahrain) - Aion Digital, one of Bahrain’s leading FinTech platforms, and the Open Bank Project, the leading Open Source API solution for banks, today announced a partnership. Through the cooperation with the Open Bank Project, Aion Digital will provide banks in Bahrain with a secure and rapid ecosystem including an API Management Solution, an API Catalogue with over 200 APIs and an API portal with a sandbox environment for future fintech development and collaborations.

The Open Bank Project provides an on premise modern and standards-based technology stack, tested, used and approved by global tier 1 banks. The Open Bank Project suite will supply banks with a set of tools and software to handle Third Party Partner Registry, API Gateway, core banking integration and Consent Management.

This partnership is in line with the CBB’s recent legislation toward transforming the financial services industry by enabling greater transparency and inclusivity through Open Banking. Aion Digital is taking the lead in leveraging new technologies and frameworks such as open banking, account aggregation and data enrichment and analysis by collaborating with other FinTech partners and innovators.

Ashar Nazim, CEO of Aion Digital “We have a commitment to be a leader in digital banking in Bahrain, and the MENA region. We’re proud to be working with the Open Bank Project which offer a tried, tested and used solution that offers the one of the highest levels of data security and compliance. This system is being used by many international banks. We will implement it in Bahrain to enable banks to efficiently and rapidly adopt this technology and be compliant with the CBB Regulations.” 

Open Banking is a must for retail and corporate banks of all sizes today. We use state-of-the-art technology and industry standards so that financial institutions and fintech partners can interact using a safe and secure environment for the benefit of the end customer with their clear consent. We believe Open Banking can help banks in Bahrain and abroad to deliver more innovative services to their customers faster. We look forward to our partnership, and to create many opportunities to invigorate and disrupt the traditional approaches to banking in the region” Said Simon Redfern, founder of The Open Bank Project and CEO of TESOBE" 

Aion Digital 

Aion Digital is fully mobile platform that builds secure digital banks in the GCC and enables them to go digital with certainty. Aion works smoothly with legacy core banking systems to deliver a fast, affordable digital launch for banks. Aion was founded with the belief that purpose belongs at the heart of human endeavor. The Fintech platform utilizes disruptive technologies to digitize banks and provide a seamless customer experience. 

The Open Bank Project 

Led by Berlin-based software company TESOBE, the Open Bank Project is the leading open-source API solution for banks, enabling financial institutions to securely and rapidly enhance their digital offerings with APIs. The Open Bank Project assists banks in deployment of open banking platforms by providing access to more than 200 standardised APIs, used by over 10,000 developers worldwide.

For media inquiries
Fatema Isa Ebrahim
Andra PR & Corporate Communications
Fatema@andrapr.com
+97339740002

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