‘Fintech moves from pilot stage to real infrastructure in Qatar’

Doha, Qatar: Qatar s fintech sector is entering a new phase where real financial infrastructure is being deployed, moving beyond pilot projects and po...

Doha, Qatar: Qatar’s fintech sector is entering a new phase where real financial infrastructure is being deployed, moving beyond pilot projects and policy discussions, a market expert has said.

Stiven Muccioli, Founder and CEO of BKN301, stated that one of the most notable changes on the ground is the implementation of open banking requirements driven by the Qatar Central Bank (QCB).

The regulator now expects banks to provide secure APIs that allow access to account information and support payment initiation.

“Over the past year, especially, this is pushing banks to upgrade older legacy systems and allowing fintech companies to connect directly to banking infrastructure,” Muccioli told The Peninsula.

“That connection makes it possible to build services such as digital payments and financial management tools.”