Launched in 2018, the Emirates NBD Future Lab is the first API Sandbox in the region and consists of over 200 APIs and 500 endpoints covering retail, corporate and SMEs.
Wednesday 21, August 2019 BY MUZORIWA KUDAKWASHE
Emirates NBD and DIFC FinTech Hive have certified fintech start-ups who successfully used the Emirates NBD’s API (Application Programming Interface) Sandbox to create and demonstrate working innovative financial solutions.
Emirates NBD’s API Sandbox follows open banking standards that ensure the utmost security and privacy for its users.
Evans Munyuki, the Chief Digital Officer, Emirates NBD, said, “Initiatives such as the API Sandbox, offer a secure and safe environment for FinTechs and internal bank developers to innovate, collaborate, prototype, and accelerate speed to market using meaningful API calls and synthetic data samples.”
The five fintech start-ups that successfully presented their product integration with Emirates NBD’s API Sandbox and graduated from the initiative with a certificate of collaboration Monimove, Norbloc as well as Gamechanger, Leap FinTech and Bankbuddy, a chatbot for the financial industry.
Abdulla Qassem, the Group COO of Emirates NBD, said that this initiative will pave the path for many more collaborations in the future between banks and fintechs in the region, helping tackle various challenges while delivering smarter and more secure customer experience in the process.
The API Sandbox equips fintechs and developers with the tools to transform their ideas into working prototypes which integrate with the bank’s sandbox technology architecture, with the goal of accelerating the development and market introduction of digital banking products and services.