Open Banking in the UAE will focus on two key functionalities: Data Sharing and Payment initiation, which includes:
Data sharing, Payment Initiation and Product Rate Quotes Functionalities Go-Live
Quotes Functionality extension to mortgage, loan, and credit Go-Live
Eight large UAE banks will offer data sharing and payment initiation for retail use cases by the end of Q3 2025.
Starting from Q4 2025, new use cases will be introduced, including consented product data functionality, with additional banks commencing their implementation
Eight large UAE banks will offer data sharing and payment initiation for SME segment by end of 2025
Corporate banks will go live from Q4 2025 onwards, covering data sharing and payment initiation use cases
Nebras Open Finance plans to launch a range of new functionalities starting in 2027, including
Insurance policy initiation
Onboarding and service initiation for bank accounts, insurances, credit cards, loans, mortgages, and e-wallets
Personalized quotes for banks’ credit cards, loans and mortgages
Open Insurance in the UAE will be implemented over three batches and two key functionalities, Insurance Data sharing and Insurance Quotation, across 7 insurance types, namely:
Data Sharing Functionality Go-Live
Quotation Functionality Go-Live
Insurers will go live by Q4 2025, introducing data-sharing functionality as Open Insurance expands to all seven insurance types
Insurance Quotes functionality will provide real-time quotes based on customer profiles, including their history and data, and is set to gradually go live for all participants from Q4 2025 onwards
Nebras Open Finance plans to launch a range of new functionalities starting in 2027, including
Insurance policy initiation
Onboarding and service initiation for bank accounts, insurances, credit cards, loans, mortgages, and e-wallets
Personalized quotes for banks’ credit cards, loans and mortgages
Open Finance in the UAE will include 4 Foreign Exchange (FX) use cases making exchange transactions and remittances more accessible and efficient:
An initial batch of six Foreign Exchange houses will go live from the end of Q4 2025, setting a world-first example
Nebras Open Finance plans to launch a range of new functionalities starting in 2027, including
Insurance policy initiation
Onboarding and service initiation for bank accounts, insurances, credit cards, loans, mortgages, and e-wallets
Personalized quotes for banks’ credit cards, loans and mortgages
Nebras Open Finance plans to expand its Open Finance scope to additional financial institutions over the next few years.
Timeline to be confirmed.
Nebras Open Finance plans to launch a range of new functionalities starting in 2027, including
Insurance policy initiation
Onboarding and service initiation for bank accounts, insurances, credit cards, loans, mortgages, and e-wallets
Personalized quotes for banks’ credit cards, loans and mortgages
Additional functionalities focusing on services personalization are expected to go live starting end of 2026, focusing on quotation functionalities using Open Finance.
Nebras Open Finance plans to launch a range of new functionalities starting in 2027, including
Insurance policy initiation
Onboarding and service initiation for bank accounts, insurances, credit cards, loans, mortgages, and e-wallets
Personalized quotes for banks’ credit cards, loans and mortgages
