Fintech Galaxy Wins In-Principle Approval for UAE Open Finance Services

Fintech Galaxy, a UAE financial technology company, provides open-finance infrastructure and corporate financial services. The in-principle approval marks an initial regulatory step toward offering domestic open-finance services, which can enable consent-based sharing of financial data. A full licence would allow the company to operate within the UAE’s regulatory framework and expand tools aimed at helping small and medium-sized enterprises improve cash management and access to financial services.

The company said it plans to focus on enhanced financial-management services for SMEs after receiving full regulatory authorisation. The available disclosure did not identify the approving authority or provide the approval date, licensing timetable, investment amount or launch schedule. Fintech Galaxy must therefore complete the remaining regulatory requirements before it can fully roll out the domestic open-finance offering in the UAE.