Ozone API expands into MENA to accelerate open banking

By Leandra Monteiro

Ozone API, a developer of standards-based software for open finance, has expanded its international team with a focus on the MENA region, aiming to provide financial institutions, central banks and regulators with the technology and expertise to build a thriving ecosystem.

Nihal Abughattas joins as General Manager for MENA. She will be responsible for shaping corporate and go-to-market strategy for Ozone API in the region, driving business growth and building strategic partnerships. Nihal is also a Founding Board Member of MENA Fintech Association and has extensive experience with the financial services ecosystem in the region.

Ozone API is working to support banks and regulators with their open banking agendas. Bringing the expertise and proven technology that takes away the significant complexity of developing and implementing standards, ensuring compliance and providing the foundation for banks and the countries’ financial services ecosystems to thrive and deliver new banking business models.

It will focus on working closely with strategic partners to provide global expertise, a scalable platform and the operational support needed to grow the adoption of open banking and open finance in MENA.

Nameeer Khan, Chairman of MENA Fintech Association said, “The MENA region’s fintech industry has seen tremendous growth and development over the past few years, and we at the MENA Fintech Association are proud to be at the forefront of this progress.

Our Open Finance Working Group comprises of leading players in the open finance space, setting the standards for excellence and innovation in this field. The entry of international entrants like Ozone API is a testament to the vast opportunities available in this region, and we are excited to have them join our efforts to drive progress and growth in the MENA fintech industry.”

Huw Davies, Co-founder and Chief Commercial Officer at Ozone API said, “The MENA region has always shown huge ambition and is challenging and transforming traditional views of what is possible. This is no different from the open finance initiatives that are emerging in the region. As such a key and important region for our business, we’re thrilled to have Nihal join us and lead our efforts and feel privileged to work with the team at the MENA Fintech Association as they shape the innovation landscape.