Commercial Bank of Dubai Goes Live With Open Finance Under UAE Framework

Commercial Bank of Dubai (CBD) has established a new precedent for the UAE’s banking industry by becoming the first bank in the UAE to comprehensively enable open finance for operational use. This significant transition from pilot project levels to real-life applications marks a major milestone in the introduction of Open Finance services to the UAE’s banking landscape. This development has taken place under the Open Finance project named AlTareq, initiated by the Central Bank of the UAE (CBUAE).

The activation exercise has also been conducted in collaboration with licensed third-party providers (TPPs) of the CBUAE, including Pay10 and Lean Technologies, which are now live with CBD. This initiative positions CBD as the first UAE bank to embrace open finance in its core operations.

Transition from Pilot to Full-Scale Implementation:

The deployment by CBD means that Open Finance has moved from a controlled test environment into full production mode across the UAE. Retail current and savings account customers will now have access to secure financial data sharing and payment initiation through regulated, consent-based frameworks.

Both CBD and its partner TPPs are now fully live on Nebras, the national Open Finance infrastructure operator, which functions under the supervision of the Central Bank of the UAE. The go-live followed a comprehensive live-proving phase, during which CBD collaborated closely with regulators and technology partners to comply with strict technical, security, governance, and operational standards.

Industry observers say this milestone confirms that the UAE’s Open Finance framework is now robust enough to support bank-scale operations, moving beyond readiness into sustained execution.

Empowering Customer Control and Financial Interconnectedness

Open Finance enables customers to provide explicit consent for regulated third-party providers to access their financial data or initiate transactions on their behalf. Consequently, this opens up a range of services such as account aggregation, smart personal finance, alternative credit scoring, and faster digital payments within a secure regulatory environment.

Dr Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said the activation places the bank at the centre of a structural transformation in the UAE financial system.

“CBD’s full-scale Open Finance activation places the bank at the centre of a fundamental shift in the UAE’s financial architecture,” he said. “We are proud to be one of the first banks in the UAE to take a major step in creating a more connected ecosystem that gives customers greater control over their financial interactions.”

He added that the move aligns with CBD’s long-term strategy to deliver digital-first, frictionless banking experiences that support economic growth and empower both UAE nationals and residents.

Contribution of Third-Party Vendors to Ecosystem Development

The partnership with licensed TPPs has been central to CBD’s Open Finance launch. Companies such as Pay10 and Lean Technologies are early adopters helping to execute AlTareq’s vision.

Harry Gill, Founder and Chairman of Pay10, described the development as a momentum-shifting step in turning policy into reality.

“The live activation signals positive momentum in translating the UAE leadership’s Open Finance vision into reality, enabling safe and regulated access for customers while adhering to the highest standards of compliance,” he said.

Additionally, the company’s Chief Product Officer, Tewfik Cassis, highlighted the maturity of the framework demonstrated through CBD’s activation.

“The activation of CBD demonstrates the maturity of the Open Finance framework and its readiness to operate at bank scale, moving the ecosystem from readiness to action and enabling customer adoption,” he said.

Importance for the UAE Financial System

The Open Finance initiative in the UAE is part of a broader digital transformation plan aimed at strengthening its position as a leading global financial hub. Open Finance is expected to promote innovation, inclusion, and efficiency across banking, payments, and lending sectors through secure data sharing and enhanced competition.

Regulators have positioned AlTareq as a cornerstone of this strategy, enabling innovation within a centralised regulatory framework that ensures both customer protection and market development. CBD’s successful activation serves as a model that can be adopted by other banks preparing to operate under these guidelines.

Observers note that early movers such as CBD may benefit from stronger customer engagement, accelerated innovation cycles, and deeper integration with the fintech ecosystem amid the growing adoption of open finance.

Expanding Use Cases and Market Adoption

Looking ahead, CBD will continue to collaborate with the Open Finance ecosystem to expand use cases, drive broader market participation, and generate meaningful transaction activity. Potential applications include advanced payment solutions, intelligent credit decision-making, embedded finance offerings, and personalised financial management tools.

As more banks and fintech firms join the AlTareq framework, the UAE’s financial ecosystem is expected to become increasingly integrated, data-driven, and customer-centric.

Conclusion

The full activation of Open Finance by Commercial Bank of Dubai marks a defining moment for the UAE banking sector. With the transition from pilot to live implementation, CBD has demonstrated that Open Finance is no longer a concept of the future but a present-day reality.

As the framework gains momentum across the industry, this development is expected to accelerate innovation and reshape customer engagement in financial services. With regulators and market participants actively advancing adoption, Open Finance is now emerging as a key pillar of the UAE’s evolving digital economy.