The rise of Open Finance in the UAE is transforming how businesses move money. No longer limited to banks or fintechs, Open Finance payment functionality is now relevant across industries — from e-commerce and lending to insurance and digital platforms.
By enabling direct account-to-account (A2A) payments, Open Finance simplifies transactions, reduces costs, and accelerates cash flow. Below, we explore some of the most impactful Open Finance use cases across different sectors.
E-commerce businesses can integrate Open Finance-enabled checkout options like “Pay by AlTareq” to streamline payments. By removing the need for cards or stored credentials, merchants can:
It also reduces chargebacks and fraud risk, which are particularly high in digital retail.
Lenders can use Open Finance APIs to initiate disbursements directly into a customer’s bank account. This allows:
With Open Finance, lending becomes faster, more efficient, and easier to scale.
Insurers can automate claim settlements through direct-to-bank payouts. When a claim is approved, the system can trigger a real-time payment to the beneficiary without needing to issue cheques or manually process bank transfers.
This improves customer satisfaction while reducing administrative overhead.
Recurring payment models benefit significantly from Open Finance. Instead of relying on cards that may expire or be declined, businesses can use direct bank debits to:
This ensures a more reliable and cost-effective way to manage recurring revenue.
Two-sided platforms — such as property rental apps, ticketing systems, or freelancer marketplaces — can use Open Finance for both collections and payouts. For example:
This enables real-time fund flows and strengthens trust across the platform.
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