Podcast: The Future of Banking in MENA is Open

The Middle East and North Africa (MENA) region is poised for substantial growth in the open banking space, supported by a foundation of a largely young and technology-driven population as well as one of the highest internet penetration rates globally. The previously conservative nature of the region’s banking sector is now undergoing a transformation. Regulators are racing to adopt and integrate open banking innovations to create a cohesive and collaborative financial ecosystem where regulators, banks, fintechs, and other third-party service providers work alongside one another.

Open banking ventures in the United Kingdom and Europe have provided some key learnings for the region which regulatory bodies and other market players can leverage to not only implement, but also leapfrog ahead. What are some of the key challenges faced by banks and fintechs in the MENA region? And how does open banking address those pain points?

Open Banking Expo’s Ellie Duncan is joined by our Tarabut Gateway Chief Technology Officer, Mitul Sudra, in this episode of the Unplugged podcast to discuss open banking across the MENA region and our role in enabling the sector. Mitul has successfully built open banking-powered solutions in the United Kingdom and Europe and has joined us “from the future” to drive open banking uptake in the region and help our partners navigate through the landscape, while building on previously faced challenges during the open banking bloom in the UK and Europe.

Listen to the podcast to learn more about open banking in MENA and the opportunities that lie ahead.

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