Commercial Bank of Dubai (CBD), in partnership with fintech firm Pay10, has successfully launched Open Finance services, marking one of the first large-scale retail deployments of its kind in the United Arab Emirates. The launch operates under the UAE’s strategic AlTareq initiative, signaling a major step forward for the nation’s financial technology landscape.
A Milestone for UAE’s AlTareq Initiative
Through this implementation, CBD’s retail current and savings account holders can now connect their accounts via the UAE’s regulated Open Finance framework. This enables customers to securely share their financial data and initiate payments, all in compliance with Central Bank of the UAE regulations.
Successful Live Deployment
The partnership has moved beyond planning to execution, with both organisations conducting live transactions in a production environment. This crucial step confirms full technical integration, operational readiness, and the reliability of end-to-end data and payment flows.
The activation was facilitated by Nebras, the Central Bank-supervised Open Finance platform, which ensured all regulatory, technical, and operational standards were met.
A Foundational Shift in Financial Architecture
Industry leaders have hailed the launch as a pivotal moment for the UAE’s financial sector.
Harry Gill, Founder and Chairman of Pay10, commented, “The full-scale go-live represents a tangible step in translating the UAE leadership’s Open Finance vision into operational reality, enabling secure and regulated customer access while upholding the highest standards of trust, governance, and compliance.”
Adding to this, Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, stated, “CBD’s full-scale Open Finance activation places the bank at the centre of a fundamental shift in the UAE’s financial architecture.”
Both CBD and Pay10 plan to expand their Open Finance use cases and support broader customer adoption in line with the AlTareq initiative.
About Commercial Bank of Dubai
Commercial Bank of Dubai (CBD) is a UAE-based banking institution founded in 1969. It offers a wide range of conventional and Islamic banking products and services to corporate, commercial, and personal banking customers through a network of branches across the Emirates.
About Pay10
Pay10 is a global payment solutions provider offering a suite of products to enable businesses to accept and manage payments. In the UAE, Pay10 was the first entity to be licensed under the country’s Open Finance framework, positioning it as a key enabler in the region’s evolving fintech ecosystem.
Source: Fintech News Middle East
