Global Perspective
Understanding UAE Open Finance in the context of global developments. Learn from international experiences to anticipate opportunities and challenges.
Global Benchmark
How the UAE compares to other open finance jurisdictions worldwide.
| Jurisdiction | Participants | API Standard | Launch | Status |
|---|---|---|---|---|
| 🇬🇧 United Kingdom | 600+ TPPs, 9 CMA9 banks | UK Open Banking | 2018 | Live |
| 🇪🇺 European Union | 4,000+ ASPSPs | PSD2 / Berlin Group | 2019 | Live & Expanding |
| 🇧🇷 Brazil | 800+ institutions | Open Finance Brasil | 2021 | Live & Expanding |
| 🇦🇺 Australia | 100+ data holders | Consumer Data Right | 2020 | Live & Expanding |
| 🇦🇪 UAE | 20+ banks, growing TPPs | CBUAE Open Finance | 2024 | Rollout |
| 🇸🇦 Saudi Arabia | 10+ banks | SAMA Open Banking | 2022 | Live |
| 🇧🇭 Bahrain | 30+ banks | CBB Open Banking | 2020 | Live |
Deep Dives
Explore specific jurisdictions and what the UAE can learn from their journeys.
United Kingdom
The PioneerLearn from the world's most mature open banking ecosystem, including lessons on adoption, standardization, and commercial models.
Explore →European Union
PSD2 and BeyondUnderstand the regulatory-driven approach across 27 countries and the evolution toward PSD3.
Explore →GCC Region
Regional MomentumExplore how Gulf states including Saudi Arabia, Bahrain, and others are building their open finance ecosystems.
Explore →Key Insights
Standardization Matters
The UK's success came from mandating a single API standard. Fragmented approaches in the EU (PSD2) led to inconsistent implementations. The UAE's unified approach through Al Tareq follows the UK model.
Commercial Models Drive Adoption
Early UK open banking struggled with adoption until premium APIs and commercial models emerged. Brazil's approach of mandating participation accelerated growth but required massive investment.
Trust is Foundational
Consumer adoption depends on trust. Australia's Consumer Data Right started slow due to privacy concerns. Strong consent management and clear data usage policies are critical.
Beyond Payments
Mature markets are expanding beyond payments into insurance, investments, and pensions. The UAE's Open Finance (not just Open Banking) framing positions it for this evolution.
Global Resources
Stay informed about open finance developments around the world.
Open Conversations
Global news and insights about open finance worldwide — coverage of regulatory developments, industry trends, and ecosystem updates from jurisdictions around the globe.
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