Mashreq, a prominent financial institution in the MENA region, has unveiled its next-generation API Marketplace. This dynamic platform is designed to provide corporate clients, developers, and fintechs with seamless access to Mashreq’s suite of APIs. These Application Programming Interfaces (APIs) facilitate smooth data exchange between different systems, transforming how businesses manage payments, receivables, and liquidity by providing real-time visibility on their cash positions and transactions.

Joel Van Dusen, Head of Corporate and Investment Banking Group at Mashreq, highlighted the significance of the API Marketplace, stating, “The API Marketplace is a key pillar in our broader digital strategy.” He emphasized that Mashreq is committed to advancing open banking and digital transformation through APIs. The new marketplace serves not only as a technology platform but also as a strategic enabler, allowing clients and partners to co-create, innovate, and scale more efficiently than ever.

The platform features several innovative components, such as automated developer registration, practical case studies, and a flexible subscription model. These elements are aimed at fostering a more agile and collaborative digital ecosystem that promotes innovation. This launch comes at a time when API adoption is rapidly increasing in the UAE, supported by the Central Bank’s initiatives like the Open Finance Framework, which encourages banks to implement API standards and collaborate with fintechs to develop new business solutions.

Vivek Batra, Global Head of Global Transaction Banking (GTB) at Mashreq, remarked that the API Marketplace represents a significant milestone in the bank’s digital journey. He noted that it was designed with a developer-first approach, offering intuitive tools, sandbox environments, and comprehensive documentation. This enables Mashreq to extend its services beyond traditional channels and integrate more seamlessly into the digital experiences of its customers, exploring new ideas, partnerships, and business models. By simplifying access and providing real-world use cases, the platform aims to make it easier for developers and businesses to create the next generation of financial solutions.

With this new initiative, Mashreq is reaffirming its position as a digital leader in the region, equipping clients and partners with the necessary tools to thrive in an increasingly interconnected world.

Founded over fifty years ago, Mashreq operates with the mindset of a challenger, startup, and innovator in the banking sector. The institution has pioneered significant innovations, catering to both entry-level digital-first customers and leading corporations in the region. Mashreq’s mission is to assist customers in navigating their paths to success, helping them achieve their goals and realize their visions. The bank maintains a strong presence in major financial centers worldwide, with its headquarters located in the Middle East. Mashreq was recognized as the fastest-growing brand in the Middle East by the Banking 500 rankings for 2024, according to Brand Finance.