Bud Financial and Fintech Galaxy Forge Partnership to Enhance Open Banking in MENA Region
February 21, 2024

Data intelligence platform Bud Financial (Bud) is joining forces with Fintech Galaxy to strengthen the open banking scene in the MENA region and transform how financial institutions, fintechs and businesses integrate and leverage customer data.

The partnership between Bud Financial and Fintech Galaxy is driven by a mutual goal of leveraging open banking and data intelligence to gain unparalleled insights into customer behaviour and financial needs.

Through the integration of advanced AI-powered data enrichment techniques with the Open Finance FINX Platform, financial institutions (FIs) will be empowered to tailor financial experiences to meet individual needs effectively. This collaboration aims to deliver tangible benefits to banks and fintechs, including:

Personalised products and experiences

Financial service providers can now offer products such as personal financial management apps, loans, savings accounts, and investment plans tailored to the individual's financial behaviour and needs.

Better access to credit

With a more in-depth understanding of a customer's financial history and habits, lenders can develop more accurate credit scoring models and automate or streamline their affordability decisioning, reducing risk and opening new avenues for underserved markets.

Tailored money management features

Providers of apps and digital services can integrate financial insights to offer personalised budgeting advice, helping consumers manage their finances more effectively.

"This isn't just a partnership; it's a step towards a future where finance feels friendly, accessible, and genuinely helpful," says Mirna Sleiman, founder and CEO of Fintech Galaxy. "We're all in to create a world where your financial services understand and adapt to you — not the other way around."

Bud Financial's co-founder and COO, George Dunning, also commented: "We’re thrilled to announce our partnership with Fintech Galaxy. This collaboration marks a significant milestone for Bud, as we bring our proven transaction enrichment capabilities to enhance the open banking experience in the region. The combination of Fintech Galaxy's robust open banking infrastructure and Bud’s innovative data intelligence will enable banks and fintechs in the Middle East to harness the full potential of customer transaction data.

"This venture builds on our successful track record in the UK and US markets, demonstrating Bud's commitment to delivering its best-in-class data intelligence suite globally. We look forward to contributing to the flourishing fintech ecosystem in the Middle East and transforming the way financial institutions use their data for the benefit of both their customers and their businesses."