LuLu Exchange Teams Up with Fintech Galaxy in Bahrain

LuLu Exchange has announced a partnership with Fintech Galaxy in Bahrain to enhance cross-border payments through Open Banking solutions. The collaboration aims to improve the speed and efficiency of such payments in the Kingdom.

Fintech Galaxy, licensed by the Central Bank of Bahrain, provides Account Information Services (AIS) and Payment Initiation Services (PIS), supporting the country’s financial sector modernization.

Since entering the Bahraini market in 2013, LuLu Exchange has established a presence with 18 customer engagement centers across the Kingdom. The company has been part of Bahrain's digital transformation, offering solutions such as LuLu Money, its digital payment app.

The partnership will enable Account-to-Account (A2A) transfers, making LuLu Exchange the first licensed cross-border payments company in the region to implement Open Banking. This system uses secure APIs to connect financial institutions, enabling faster and more secure transactions.

Edison Fernandez, General Manager of LuLu Exchange in Bahrain, emphasized the alignment with Bahrain’s push for more inclusive financial services. "Our collaboration with Fintech Galaxy marks a significant milestone in our journey towards redefining financial services in Bahrain," Fernandez said.

Mirna Sleiman, Founder and CEO of Fintech Galaxy, noted that the partnership aims to drive financial inclusion and innovation. "By combining our expertise and resources, we aim to deliver financial services that benefit both consumers and businesses," Sleiman commented.