According to the official press release, the partnership will accelerate Open Banking to the entire region of the Middle East & North Africa (MENA). Batelco established a new licenced subsidiary Batelco Financial Services in Bahrain, to launch its own Open Banking Platform using finleap connect technology.
Through obtaining the necessary licences and in part through this partnership, Batelco Financial Services will be able to provide both consumers and SMEs with digital financial services such as digital wallet creation, cards issuance services, bank accounts aggregation, and bank account payments initiation on behalf of its own clients and other third parties.
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