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Bud & Fintech Galaxy bring AI-led Open Banking solutions to MENA

By Gloria Mathias

February 22, 2024

  • Artificial Intelligence
  • Bud
  • Bud Financial
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Fintech Galaxy, Open Finance Platform, Bud, Bud Financial, Artificial Intelligence, Open banking, Core banking, Fintech News, Fintech Solutions,  Bud Financial (Bud), a data intelligence platform, has joined forces with Fintech Galaxy, an open banking and financial innovation platform, to strengthen the Open Banking space in the MENA region and transform how financial institutions (FIs), FinTechs, and businesses integrate and leverage customer data.

The partnership is based on a shared vision to harness the power of open banking and data intelligence to deliver insights into customer behaviour and financial needs. Bud and Fintech Galaxy will blend advanced, AI-powered data enrichment techniques with the Open Finance FINX Platform, enabling FIs to craft financial experiences.

The collaboration will benefit banks and FinTechs in the following ways:

  • Personalised Products and Experiences: Financial service providers can now offer products such as personal financial management apps, loans, savings accounts, and investment plans tailored to the individual’s financial behaviour and needs.
  • Better Access to Credit: With a more in-depth understanding of a customer’s financial history and habits, lenders can develop more accurate credit scoring models and automate or streamline their affordability decisioning, reducing risk and opening new avenues for underserved markets.
  • Tailored Money Management Features: Providers of apps and digital services can integrate financial insights to offer personalised budgeting advice, helping consumers manage their finances more effectively.

“This isn’t just a partnership; it’s a step towards a future where finance feels friendly, accessible, and genuinely helpful,” said Mirna Sleiman, the Founder and CEO behind Fintech Galaxy. “We’re all in to create a world where your financial services understand and adapt to you, not the other way around.”

Bud Financial’s Co-Founder and COO, George Dunning, shared, “We’re thrilled to announce our partnership with Fintech Galaxy. This collaboration marks a significant milestone for Bud, as we bring our proven transaction enrichment capabilities to enhance the open banking experience in the region We look forward to contributing to the flourishing fintech ecosystem in the Middle East and transforming the way financial institutions use their data for the benefit of both their customers and their businesses.”

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