Central Bank of Bahrain launches fintech lab
Wednesday, 10 21 2020, Category: Technology, Country: Bahrain
The Central Bank of Bahrain has launched FinHub 973, the first comprehensive digital fintech lab in the region.
The Central Bank of Bahrain, in cooperation with the Bahrain Economic Development Board, Bank ABC, ila Bank, BENEFIT, National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has launched FinHub 973, the first comprehensive digital fintech lab in the region.
Regulated by the Central Bank of Bahrain, the new platform will aim to create a collaborative ecosystem in the fintech sector by establishing a gateway for investment opportunities in the region, while fostering innovation and supporting integration between financial institutions and fintech startups.
FinHub 973 will be powered by Fintech Galaxy's FinX22 platform, which is a cloud-based open innovation platform that complies with the best international technical standards. The FinX22 platform will offer an open banking API sandbox that enables fintech startups to develop, test and deploy fintech solutions.
Source: Trade Arabia