ProgressSoft and Fintech Galaxy to Propel Open Banking Adoption

ProgressSoft is pleased to announce its strategic partnership with Fintech Galaxy, a regional leader in financial innovation, to propel Open Banking across the financial sector.

Through this groundbreaking partnership, ProgressSoft and Fintech Galaxy will collaborate on building national Open Banking hubs, providing regulatory bodies with a scalable financial infrastructure to accelerate sector-wide innovation, streamlining Open Banking adoption by improving Application Programming Interface (API) connectivity, secure data sharing, and transaction flows, among all participant financial institutions such as banks, fintechs and payment service providers.

“The financial industry is evolving rapidly, and Open Banking is no longer an option—it’s a necessity,” said Mirna Sleiman, Fintech Galaxy’s Founder and Chief Executive Officer. “Our partnership with ProgressSoft ensures that financial institutions have access to agile, compliant and scalable solutions that help them stay ahead of regulatory and market demands.”

ProgressSoft will leverage Fintech Galaxy’s Open Finance API aggregation and compliance platforms, to equip financial institutions with the needed tools for fast-tracking regulatory compliance, enhancing secure digital payments and creating future-proof payment infrastructures. This is in addition to enhancing transaction speed and security while ensuring full compliance with regional and international standards.

"Our collaboration with Fintech Galaxy presents a unique opportunity to redefine the Open Banking landscape,” said Michael Wakileh, ProgressSoft’s Chief Executive Officer. "We are proud to combine our strengths and deliver impactful solutions that support the financial ecosystem’s digital shift, with a focus on growing our presence in the MENA region and beyond."

This partnership supports ProgressSoft’s long-term strategic presence and vision to continue to position its clients for continued success in the digital era through secure, innovative and scalable payment solutions that maintain operational efficiency.