Becomes UAE’s first bank to fully activate Open Finance for customers
Commercial Bank of Dubai (CBD) has set a new benchmark for the UAE banking sector by becoming the first bank in the country to fully activate Open Finance into live operational use under the Central Bank of the UAE’s Open Finance Initiative, AlTareq.
The activation has been delivered in collaboration with Central Bank–licensed third-party providers (TPPs), including Pay10 and Lean Technologies, both of which are now connected and operational with CBD under the Open Finance Framework.
Throughout the live-proving phase, CBD worked closely with its TPP partners to meet regulatory, technical and operational requirements set by the Central Bank of the UAE.
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.
Digital-first customer experiences
“This step reflects CBD’s long-term focus on creating seamless, digital-first customer experiences that accelerate the UAE’s growth and empowers both nationals and residents with innovative and transparent financial solutions,” stressed Dr. Bernd van Linder, CEO, Commercial Bank of Dubai.
According to Harry Gill, Founder and Chairman, Pay10, 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.
Long-term ecosystem growth
“With CBD now fully live, Open Finance moves beyond readiness and into execution, creating the conditions for real customer adoption, sustained transaction volumes, and long-term ecosystem growth,” commented Tewfik Cassis, Chief Product Officer, Lean Technologies.
Looking ahead, CBD will continue working with its Open Finance partners to expand use cases, support market adoption and drive meaningful transaction activity in line with the objectives of the UAE’s AlTareq Open Finance Initiative, a press statement concluded.
