Lean Technologies Among First to Gain UAE Approval Under New Open Finance Framework
The IPA positions Lean as one of the first companies to offer regulated Open Finance services in the UAE, advancing its path toward full licensing.
The approval comes as demand grows for faster, more transparent, and personalised financial services.
Open Finance enables users to make payments, access credit, and manage finances through connected systems.
Lean's infrastructure aims to support this shift by offering features such as instant account-to-account payments, quicker loan approvals, and financial tools built around data access and control.
'Open Finance is more than a technology upgrade. It's a foundation for a smarter, more innovative economy,'
said Hisham Al-Falih, CEO and Co-Founder of Lean Technologies.
'By connecting customers, regulators, and businesses on a single, interoperable infrastructure, we're directly supporting the UAE's vision for a world-class digital financial system.'
Since its founding, Lean has worked with regulators, banks, and fintechs to develop financial connectivity in the region.
The company reports handling over US$2 billion in transaction volume and linking more than 1 million customer accounts.
Its infrastructure underpins a range of use cases including payments, lending, and personal finance.
'With this approval, we're not just expanding our capabilities, we're expanding access,'
Al-Falih added.
'We're enabling more people and businesses to participate fully in the digital economy.'
Lean also supports the AlTareq initiative, a national programme to implement Open Finance infrastructure across the UAE.
Its systems comply with ISO 27001 and SOC 2 standards and have demonstrated consistent API uptime and performance at scale.
In 2022, Lean became the first third-party provider to receive a Financial Services Permission from Abu Dhabi Global Market (ADGM).
It also joined the Saudi Central Bank's regulatory sandbox that year.
The company has raised over US$100 million from investors including General Catalyst and Bain Capital Ventures and is expanding its regulated services across the Gulf region.
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