Best Open Banking Initiative 2025: Mashreq
Mashreq launches next-generation API Marketplace for corporates and fintechs - earning our Best Open Banking Initiative Award.
Open banking succeeds when banks stop treating APIs as a regulatory obligation and start treating them as a product. Mashreq made that shift decisively in May 2025 with the launch of its next-generation API Marketplace, a platform designed for corporates, developers, and fintechs to build on Mashreq's banking infrastructure.
The API Marketplace is not a basic developer portal with a handful of endpoints. It offers a comprehensive catalogue of banking APIs covering payments, accounts, trade finance, foreign exchange, and corporate treasury services. Developers can explore the API catalogue, test integrations in a sandbox environment, and move to production with structured onboarding support from Mashreq's team.
For corporate clients, the Marketplace opens new possibilities for integrating banking services directly into their own systems and workflows. A logistics company can embed real-time payment tracking into its supply chain management platform. A fintech can build a cash management tool that connects directly to Mashreq's treasury APIs. The bank becomes infrastructure rather than an interface customers have to visit separately.
The timing was strategic. The UAE's open banking regulations were maturing through 2025, and Mashreq positioned its Marketplace to be ready as the regulatory environment solidified. By building ahead of mandatory requirements, the bank gained a first-mover advantage in attracting fintech partners and corporate developers to its platform.
Developer experience was clearly a priority. The Marketplace includes comprehensive documentation, code samples, SDKs in multiple programming languages, and a responsive support channel. This attention to developer experience reflects a sophisticated understanding of what drives API adoption - it is not enough to publish endpoints; you need to make them easy to use.
We awarded Mashreq for this initiative because it represents open banking done right. The bank did not simply comply with a mandate - it built a product that creates value for multiple stakeholders: corporates get seamless integration, fintechs get reliable banking infrastructure, and Mashreq expands its reach beyond its own digital channels.
Visit Mashreq to learn more.
Assigned by Sebastien Parker, Senior Research Analyst, Global Banking Monitor, June 2025
