May 23, 2024

Latin American fin-tech leader Finansystech plans to help digitise the banks in the Middle East

 Latin American fin-tech leader Finansystech plans to help digitise the banks in the Middle East

Finansystech, a Latin American a Modular Plug and Play open-source financial technology solutions provider, is entering the Middle East’s emerging fin-tech sector.

The company, registered as a fin-tech business in Brazil, has partnered with 2nd Open Banking Forum currently underway in Dubai, through which it plans to partner with the Middle East’s banking and financial institutions and help them digitise their business.

“Banks in the Middle East, especially the GCC countries need Open Banking products to grow further and to cope up with the changing consumer behaviour. Consumers want hassle-free on-the-spot touchless payment solutions and the banks can achieve it through Application Programming Interfaces (APIs) powered Open Banking solutions,” Danillo Branco, CEO and Co-founder, says.

“We will soon open our regional office here in the UAE to partner with financial institutions in their journey towards digital excellence. Our mission is to decrease next-generation’s access barriers to technology, promoting equality and opportunities for collaboration with Open-Source solutions.

“We are bringing this expertise to the Middle East market – where the banking sector will undergo a technology-driven transformation and disruption phase where banking will become a seamless and touchless experience. We are here to support the digital transformation of the banks in the Middle East.”

More than 200 bankers, financial professionals and fin-tech experts have gathered at the 2nd Open Banking Forum, which is being held at Dusit Thani hotel from December 6 to 7, 2021, to examine the overall digital disruption in the banking and financial sector in the Middle East.

Organised by Cogent Solutions Event Management (CS Events), the two-day 2nd Open Banking Forum hybrid conference could be participated both virtually and in-person, will see more than 200 experts, regulators and financial professionals discuss the fintech-led disruption in the banking and financial sectors as well as opportunities in the financial sector.

Welcoming Finansystech to the UAE, Nizam Deen, Founder and Chief Executive Officer of CS Events and the 2nd Open Banking Forum, says, “We are delighted to welcome Finansystech to the Open Banking Forum and the UAE to explore opportunities and help the regional banks in their digital transformational journey.

“Open Banking Forum has been carefully created as a futuristic business conference to bring international expertise to support the local and regional banks in the Middle East. I am happy to see international fin-tech experts such as Finansystech is here and with its proprietary technology, I’m sure Finansystech will be able to support the banking sector in the Middle East.”

Finansystech, which is a Modular Plug and Play open-source technology that allows financial services to provide secure open finance solutions, has also won the best Open Banking Solution Provider Award at the 2nd Open Banking Forum.

It is an open finance platform as a service. Finansystech provides Brazil’s Central Bank regulatory integration models and technical standards. Also, it complies with UK, AUD and future UAE standards. Finansystech is the first company in the world certified by OpenID, an international standard for identity security in payment initiations.

Today, it is the only Latin American Fintech certified in FAPI and CIBA.

Danillo Branco said, “We are delighted to win this prestigious award. This will go a long way in our efforts to establish Finansystech as a major fintech player in the GCC countries.”

The 2nd Open Banking Forum is supported by Abu Dhabi Global Markets, Mashreq, Abu Dhabi Islamic Bank, Zand and Magnati.