Blinq White Papers
Open Banking Terminology and Concepts
Open Banking is a banking practice to create an ecosystem that enables financial data ownership among customers in a secure way. It paves the way for new business models based on sharing consented data to provision specific banking services through Third Party Providers (TPPs) to propose innovative and customized financial services and products.
Roadmap through Open Banking Monetization Opportunities in KSA
While Saudi Central Bank (SAMA) has announced the plan to issue a new regulatory framework for Open Banking’s Payment Initiation Services in Q4 2023, financial players are monitoring closely the disruption, finalizing the implementation of the 1st phase of Open Banking, Account Information Services (AIS), and getting ready for the next phase.
Relying Solely on Open Banking Aggregators = Missing on the Next Big Thing
We all had a Nokia, yet none of us know what is their latest device. One of Nokia’s pitfalls was not creating a portal for innovation. Now, with the advent of open banking, some banks in Saudi Arabia might choose to go with open banking aggregators to meet regulatory requirements, thinking that it’s the right thing to do, not knowing that going for an aggregator means that they are just going for the best Nokia.
SMEs Staff Management & payroll solutions: The Banking-as-a-Service gold mine, with social impact!
In the rapidly evolving landscape of Saudi Arabia’s economy, MSMEs (Micro, Small & Medium Enterprises) are poised with major operating expenditure challenges (c21%) and shopping for products eliminating overheads with affordable solutions.
Licensed Financial Institutions(LFIs) Guide to Navigating the UAE’s Open Finance Landscape
Licensed Financial Institutions (Banks, Insurance companies & Capital Market Firms), after the Central Bank of the UAE (CBUAE) issued the Open Finance Regulation in April 2024, are now navigating the dual challenges of complying with the technical requirements of the Open Finance framework (& its associated Infrastructure complexities) while leveraging open finance data to offer value-added services to their customers.
