The National Bank of Bahrain has vowed to take their motto “Closer to you” to a whole new level.
Through our partnership, NBB was able to set a significant benchmark in the MENA Region to launch Open Banking solutions.
The Open Banking services developed by TG is being rolled out in phases, with Account aggregation being the first. Initially, NBB’s customers will be able to view and track their finances across all their accounts. Financial transactions and fully-fledged services will be enabled as a follow up stage.
Not only is NBB adopting a consumer centric strategy to serve and deliver higher value to customers, but also permits users to have a holistic view of their financials across multiple accounts through Open APIs.
With this in mind, customers are placed at the heart of this partnership. Users also will be offered AI powered tools and algorithms to help them categorize and automate their spending.
According to Yaser Alsharifi, NBB’s Chief Strategy Officer “Allowing customers to get a full view of their finances in one place is an important step in making banking more accessible and convenient for customers and an achievement towards our digital offering”.
And to quote Jean-Christophe Durand, Chief Executive Officer of NBB “This is a proud moment for NBB as we lead the industry into the future of banking. Today, we have taken a giant leap into the next wave of innovation in the digital economy, setting a solid foundation for the nationwide implementation of Open Banking and further supporting the government’s vision to strengthen Bahrain’s positioning as a global Fintech Hub”.