Abu Dhabi: First Abu Dhabi Bank (FAB) and Pay10 have officially gone live with Open Finance services for retail customers, marking a key milestone in the UAE’s Open Finance framework under the Central Bank’s Al Tareq initiative.
FAB is among the first banks in the country to activate Open Banking capabilities, enabling selected retail current and savings accounts to connect through Open Finance. The move allows secure “Pay by Bank” payment initiation and related services, supporting seamless account connectivity and regulated data sharing.
The transition from pilot testing to controlled live usage has already seen real transactions successfully processed. According to the institutions, this confirms end-to-end technical connectivity, secure data flows, and operational readiness across systems.
Regulatory oversight for the activation has been provided by Central Bank of the UAE through Nebras, ensuring compliance with governance, security, and control standards required under the national Open Finance framework.
With the live launch now complete, Pay10 is able to support Open Finance use cases in a production environment while maintaining full regulatory alignment. FAB, meanwhile, continues to play a leading role in advancing Open Finance adoption, supporting the Central Bank’s vision for secure, data-driven financial services and a resilient digital payments ecosystem.
Commenting on the milestone, Harry Gill, Founder and Chairman of Pay10, said the go-live represents a meaningful step towards enabling secure data access, interoperable payments, and scalable alternative payment innovation. He noted that the development reflects a market focused on execution, trust, and collaboration, principles aligned with the UAE’s broader digital finance strategy.
Looking ahead, FAB and Pay10 plan to expand Open Finance use cases, validate performance at scale, and prepare for broader customer access in line with the UAE’s Open Finance objectives under Al Tareq.
