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Mirna Sleiman

Bud Financial, Fintech Galaxy in tie-up to boost Open Banking

DUBAI, February 22, 2024

Data intelligence platform Bud Financial (Bud) is joining forces with Fintech Galaxy, a leader in Open Banking and financial innovation, to strengthen the Open Banking scene in the Mena region. The two firms will also 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 unparalleled 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 that truly resonate with individual needs.
 
Tangible benefits
This collaboration is all about bringing tangible benefits to banks and FinTechs, including but not limited to:
●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," says 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."
 
Proven transaction enrichment capabilities
Bud Financial's Co-Founder and COO, George Dunning, said: "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.  The combination of Fintech Galaxy's robust open banking infrastructure and Bud’s innovative data intelligence will enable banks and fintechs in the Middle East to harness the full potential of customer transaction data. 
 
“This venture builds on our successful track record in the UK and US markets, demonstrating Bud's commitment to delivering its best-in-class data intelligence suite globally.  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."--TradeArabia News Service
 



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