Emirates NBD debuts API sandbox
Emirates NBD is now open to open banking with the launch of its API sandbox.
It says it’s the first UAE bank to introduce such a platform in the region, as part of its AED 1 billion ($272.3 million) investment it has committed to its digital revamp.
Abdulla Qassem, group chief operating officer at Emirates NBD, says the sandbox will be a “game-changer”.
The sandbox is powered by Virtusa. It consists of over 200 APIs and 900 end points covering retail, corporate and SMEs.
Developers also have access to over three million simulated customer transactions based on the BIAN (Banking Industry Architecture Network) model.
According to the bank, the sandbox makes Emirates NBD more accessible to developers with API technology boosting the bank’s role in accelerating the region’s innovation ecosystem as well as creating increased for value for its customers and partners.
So far, four unnamed fintechs have been onboarded on the sandbox to create proof of concepts.