Lean technologies gets UAE approval to boost digital banking

By Vriti Gothi

Lean Technologies has received In-Principle Approval (IPA) from the Central Bank of the UAE to secure, inclusive financial services for consumers and businesses alike.

The approval represents a pivotal step toward full licensing and underscores Lean’s critical role in shaping the future of connected finance across the region. As the UAE positions itself at the forefront of Open Finance innovation, Lean’s infrastructure is enabling a new generation of seamless, API-driven financial experiences from account-to-account payments to frictionless credit access and personalised money management tools.

With over $2 billion in transactions processed and more than one million customer accounts connected, Lean’s platform already powers some of the region’s most dynamic use cases across lending, personal finance, and payments. The company’s infrastructure delivers high API uptime, low-latency performance, and enterprise-grade security, including compliance with ISO 27001 and SOC 2 standards.

As Open Finance emerges as a central pillar of national initiatives such as UAE Centennial 2071 and the National Digital Economy Strategy, Lean’s approval is strategically aligned with the country’s ambition to foster financial inclusion, innovation, and efficiency through secure data-sharing and customer consent-driven access.

The real-world benefits are already evident. Lean’s partnerships are enabling financial institutions and businesses to enhance user experiences, streamline underwriting, and unlock underserved market segments.

Lean continues to play a pivotal role in national infrastructure initiatives, including the AlTareq programme, in collaboration with regulators, banks, and FinTech innovators. The company was the first third-party provider to be granted a Financial Services Permission (FSP) from Abu Dhabi Global Market (ADGM) in 2022 and is also approved by the Saudi Central Bank (SAMA) under its regulatory sandbox, positioning Lean as a trusted cross-border infrastructure partner across the Gulf.

Backed by more than $100 million in venture funding from global and regional investors such as General Catalyst and Bain Capital Ventures, Lean is scaling its regulated capabilities across the UAE and wider MENA markets. As Open Finance adoption accelerates, the company remains at the forefront of enabling smarter, faster, and more inclusive financial ecosystems.

According to the Arab Monetary Fund, the MENA Open Finance market is projected to grow from $1.65 billion in 2022 to $11.74 billion by 2027. With a robust regulatory foundation and proven infrastructure, Lean is uniquely positioned to drive this transformation—unlocking new opportunities for FinTechs, financial institutions, and end users alike.

Hisham Al-Falih, CEO and Co-Founder of Lean Technologies, said, “Open Finance is more than a technology upgrade. It’s a foundation for a smarter, more innovative economy. By connecting customers, regulators, and businesses on a single, interoperable infrastructure, we’re directly supporting the UAE’s vision for a world-class digital financial system. With this approval, we’re not just expanding our capabilities – we’re expanding access. We’re enabling more people and businesses to participate fully in the digital economy.”