ProgressSoft, a leading Jordan-based payment solutions provider, has announced a strategic partnership with UAE-based Fintech Galaxy to drive Open Banking adoption across the financial sector in the Middle East and North Africa (MENA).
The collaboration aims to establish national Open Banking hubs, providing regulatory bodies with a scalable financial infrastructure that fosters innovation, enhances compliance, and streamlines secure digital transactions.
Enhancing API Connectivity & Secure Data Sharing
Through this partnership, ProgressSoft and Fintech Galaxy will work on improving Application Programming Interface (API) connectivity, ensuring seamless and secure data exchange between financial institutions, including banks, fintech firms, and payment service providers.
Mirna Sleiman, Founder and CEO of Fintech Galaxy, emphasized the importance of Open Banking in today’s financial landscape:
“The financial industry is evolving rapidly, and Open Banking is no longer optional—it’s essential. Our partnership with ProgressSoft ensures financial institutions have access to agile, compliant, and scalable solutions that keep them ahead of regulatory and market demands.”
Driving Compliance and Digital Transformation
ProgressSoft will integrate Fintech Galaxy’s Open Finance API aggregation and compliance platforms to help financial institutions accelerate regulatory compliance, enhance transaction security, and build resilient payment infrastructures.
The partnership also focuses on improving transaction speed while ensuring adherence to regional and international financial regulations.
Michael Wakileh, CEO of ProgressSoft, highlighted the transformative impact of the collaboration:
“Our alliance with Fintech Galaxy is a game-changer for the Open Banking ecosystem. By combining our expertise, we are delivering powerful solutions that drive digital transformation and expand our presence across MENA and beyond.”
This partnership marks a significant step in revolutionizing financial services, ensuring greater efficiency, security, and accessibility for businesses and consumers alike.
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