The deal will help to speed up FTG’s open finance and open banking platform’s market penetration in Egypt, develop and launch new digital solutions, and push financial inclusion forward. Al-Zamil added that all of Underlie’s current employees have been retained and warmly welcomed to Fintech Galaxy Egypt’s operationsUnderlie leverages open API technology and machine learning to empower banks and fintech companies to provide their customers with better services and benefits. “This acquisition is a testament to the positive impact Underlie has achieved so far,” said Akram Abdou — Founder of Underlie. Mirna Sleiman — CEO and Founder of Fintech Galaxy — said: “The acquisition of Underlie anchors our open banking/open finance efforts and enables us to succeed in providing enhanced, seamless, and enjoyable financial experiences, expanding, and consolidating our position across MENA. Cross-border collaboration is key to moving the needle on financial inclusion in Egypt and beyond.”© 2022 Daily News Egypt.
