QNB unveils Qatar's first 'Open Banking API' for corporate clients

QNB, which is the largest financial institution in the Middle East and Africa, has launched Qatar’s first Open Banking API (Application Programming Interface) services, specifically tailored for its corporate clients.

The “innovative” service marks a significant milestone as the latest addition to the bank’s robust arsenal of digital solutions, providing the market with a unique, cutting-edge solution that is set to revolutionise corporate banking.

QNB Group senior executive vice-president (Corporate and Institutional Banking) Khalid Ahmed al-Sada stated, "Our goal is to enrich our corporate bank e-channels with ‘Beyond Banking Value-Added’ services. We strongly believe that with the arrival of Open Banking a new digital collaborative financial ecosystem started to emerge globally, where banks together with their new partners can unlock further synergies and drive innovation faster."

With QNB’s open banking APIs, companies now have the ability to interact directly with the bank through API calls, covering a broad spectrum of services from transaction initiation to service and information requests.

This capability allows companies to rely on personalised and proprietary internal platforms and processes while fully utilising the bank's capabilities to meet their banking services and needs. It grants companies unprecedented flexibility in dealing with the bank in a manner that suits their specific circumstances.

"The ultimate goal of Open Banking is to increase efficiency, enrich functionality and elevate the user experience to the next level, by adopting our open banking APIs, our clients are not just accessing financial services; they are becoming part of a transformative movement that redefines the possibilities of corporate banking”, al-Sada added.

The revolutionary service is now available to all corporate clients and service providers, both in Qatar and at all QNB branches globally leading the way in transforming the financial services landscape, ensuring clients enjoy enhanced efficiency, enriched functionality, and an elevated user experience.