Emirates NBD is bidding to attract third party fintech firms to its API Sandbox environment by promising to arrange demo opportunities with senior leaders of the bank and a certification award to participating startups.The sandbox, developed in concert with Virtusa, consists of over 200 APIs and 500 end points covering retail, corporate and SMEs. Developers also have access to over three million simulated customer transactions based on the BIAN (Banking Industry Architecture Network) model.
Launched in 2018, Emirates NBD is now attempting to woo more third parties to the development programme by partnering with the Dubai International Financial Centre’s Fintech Hive accelerator to open a new programme which will certify fintech firms that have passed through the testing phase.
“All registered fintechs in the Dubai International Financial Centre that build effective, working prototypes or demos using the APIs will have the opportunity to present to senior leaders from the bank for a chance to collaborate,” says Abdulla Qassem, group chief operating officer, Emirates NBD . “Furthermore, registered fintechs who use the API sandbox and demo their prototypes working on the sandbox, will also receive a signed certificate from Emirates NBD and DIFC FinTech Hive acknowledging their participation and certifying their capabilities.”