AFS and CRIF Partner for Open Banking Solutions
Arab Financial Services (AFS) and global credit information company CRIF have formed a strategic partnership. The collaboration will focus on implementing open banking use cases for banks in the Middle East and Africa.
Arab Financial Services (AFS), a leading digital payment solutions provider and fintech enabler in the Middle East and Africa, has entered into a strategic partnership with CRIF, a global company specializing in credit bureaus, business information systems, and data processing services.
The partnership is set to enhance AFS's open finance technology platform with CRIF's latest open banking use cases and solutions. This initiative will benefit AFS's banking clients across the Middle East and North Africa (MENA) region.
The collaboration aims to advance the adoption of open banking, a framework that allows third-party providers to access bank customer data with their consent, fostering innovation and new service development in the financial sector.
AFS stated that the partnership will solidify its position as a fintech player in the region, providing its clients with access to cutting-edge technologies that support digital transformation and the development of new business models amid evolving regulatory landscapes.