Lean Technologies, a MENA-based financial infrastructure company, has become one of the first firms to receive In-Principle Approval (IPA) from the Central Bank of the UAE under the country’s newly launched Open Finance Framework. This marks a major milestone in Lean’s journey to becoming a fully licensed provider of regulated Open Finance services in the UAE.
What Is Open Finance and Why It Matters
Open Finance is the next step in the digital transformation of financial services. It allows consumers and businesses to access, manage, and share their financial data securely across platforms. This leads to more personalized, efficient, and transparent financial services.
Lean’s platform powers this ecosystem by offering:
- ✅ Instant account-to-account payments
- ✅ Faster and data-driven loan approvals
- ✅ Connected tools for budgeting, financial planning, and business operations
By enabling secure and real-time access to financial data, Lean is helping shape a more inclusive and responsive financial system in the region.
Supporting UAE’s Vision for a Smart Financial Future
Hisham Al-Falih, CEO and Co-Founder of Lean Technologies, explained the broader vision:
“Open Finance is more than a technology upgrade. It’s a foundation for a smarter, more innovative economy.”
He emphasized that Lean’s platform connects customers, regulators, and financial institutions through a single, interoperable infrastructure, directly supporting the UAE’s goal of creating a world-class digital financial system.
Track Record of Innovation and Growth
Since its inception, Lean has worked closely with regulators, banks, and fintechs across the region. The company reports:
- ✅ Over $2 billion in transaction volume
- ✅ More than 1 million customer accounts linked
- ✅ Consistent API uptime and secure data access
Its platform is used in diverse financial services, including:
- Payments
- Lending
- Personal finance management
In 2022, Lean became the first third-party provider to receive a Financial Services Permission from Abu Dhabi Global Market (ADGM). It also joined Saudi Arabia’s regulatory sandbox, a program that supports financial innovation under the Saudi Central Bank.
Lean’s infrastructure complies with top-tier standards including:
- ISO 27001
- SOC 2
These credentials underline its commitment to security, reliability, and regulatory alignment.
Backed by Global Investors and Local Vision
Lean has raised over $100 million in funding from major firms like General Catalyst and Bain Capital Ventures. This financial backing strengthens its ability to expand across the Gulf region, offering compliant and cutting-edge financial services to banks, businesses, and end users.
The company is also actively supporting AlTareq, a national initiative to roll out Open Finance infrastructure across the UAE.
Final Thoughts
With its newly granted IPA, Lean Technologies is not just scaling operations, it’s unlocking broader access to digital finance. As the UAE pushes forward with its financial modernization agenda, Lean is well-positioned to be a key enabler in building a more connected, transparent, and efficient financial future.