This partnership aligns with INVESTBANK’s mission to improve digital customer experience, optimising simplicity, speed, and accessibility.
Fintech Galaxy is an Open Banking provider in Jordan, and it received approval from the Central Bank to test Open Banking APIs in the regulatory sandbox. This allows the bank to meet compliance requirements while integrating into Jordan’s Open Finance ecosystem.
Fintech Galaxy launched FINX Comply in 2024 for customers and clients in the UAE region. This solution is a cloud-based set of Open Banking compliance services designed to offer fast-to-market, secure, and cost-effective Open Banking and Open Finance compliance services to banks, financial institutions, insurance companies, and other firms.
In addition, the product suite includes TPP management, comprehensive TPP and Bank dashboards, and Consent Management based on regional standards. This will allow banks and financial institutions to access fast, safe, and efficient experiences during the process of integrating with centralised API platforms that are offered by Central Banks. Banks utilising FINX Comply can develop new API products and value-added tools on top of the mandated regulatory use cases, leading to new revenue streams and monetisation options. These will include Personal Financial Management (PFM) apps, Pay by Bank, VRPs, and SME credit scoring.
Following the announcement, the bank is set to implement FINX Comply into its offering. INTERBANK will leverage features such as AIS (Account Information Services) and PIS APIs. This will secure the sharing of customer financial data with authorised third parties and direct bank payments through regulated fintech. Another capability includes consent management, enabling customers to control and manage data-sharing permissions.
Through the integration, the bank aims to reduce compliance costs, improve operations, and access new revenue opportunities while offering faster, more secure digital transactions. It will also optimise its prime banking, wealth management, and payment offerings.
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