Emirates NBD & DIFC FinTech Hive to launch API Sandbox

Emirates NBD and FinTech Hive have announced a new programme in which they will certify FinTechs that co-create and innovate using the bank’s API Sandbox.

Launched in 2018 by Emirates NBD Future Lab, the Sandbox is a key milestone in the bank’s AED 1 billion digital transformation programme. It has been made available to developers as well as FinTech firms, who have access to over 5 million stimulated customer transactions based on the BIAN model (Banking Industry Architecture Network). However, it follows Open Banking Standards that ensure utmost privacy and security. Currently, it has 200 APIs and 500 endpoints covering SMEs, retail and corporate.

The developers and firms using the API sandbox to innovate or create new products or services will have the opportunity to demonstrate their ideas or prototypes to Emirates NBD’s senior leaders. They will also receive a signed certificate from the bank and DIFC FinTech Hive for participation.

Group Chief Digital Officer of Emirates NBD, Evan Munyuki said, “The API Sandbox equips FinTechs and developers with the right tools to transform their ideas into working prototypes. Through this initiative, we hope to accelerate the development and market introduction of digital banking products and services, while recognising FinTechs globally.”

Read more about this initiative here.