Zain Bahrain, a MENA telecoms sector innovation, has become the first telecommunications operator to accept Open Banking payments, cementing its status as one of the region’s leading telecom providers. The ability to accept bank-to-bank payments, in which funds are credited in real-time, avoiding long settlement periods; robust security through strong customer authentication processes; and reduced transactional fees are the advantages.

The new platform will aim to create a collaborative ecosystem in the fintech sector by establishing a gateway for investment opportunities in the region, while fostering innovation and supporting integration between financial institutions and fintech startups. FinHub 973 will be powered by Fintech Galaxy’s FinX22 platform, which is a cloud-based open innovation.