LuLu Exchange, a prominent cross-border payments provider in the GCC, has announced a strategic partnership with Bahrain-based Fintech Galaxy. The collaboration will enable LuLu Exchange to leverage Fintech Galaxy’s licensed Open Banking solutions, streamlining cross-border transactions to be faster and more convenient.
Fintech Galaxy, authorized by the Central Bank of Bahrain to offer Account Information Services (AIS) and Payment Initiation Services (PIS), will facilitate the integration of secure, API-driven connections between financial institutions. This integration is set to support seamless account-to-account (A2A) transfers, positioning LuLu Exchange as the region’s first licensed cross-border payments company to operate on an Open Banking infrastructure.
Since its market entry in 2013, LuLu Exchange has played a key role in Bahrain’s digital transformation through its innovative digital payment offerings. Its flagship application, LuLu Money, has garnered high ratings for its security and user convenience, underscoring the company’s commitment to providing secure digital financial services.
Edison Fernandez, General Manager of LuLu Exchange in Bahrain, emphasized the significance of the partnership:
“Our collaboration with Fintech Galaxy marks a significant milestone in our journey towards redefining financial services in Bahrain. Together, we are poised to unlock new opportunities and deliver unparalleled value to our customers.”
Mirna Sleiman, Founder and CEO of Fintech Galaxy, added:
“By combining our expertise and resources, we aim to deliver cutting-edge financial services that empower consumers and businesses alike.”
Beyond offering immediate enhancements in payment speed and security, the partnership will explore new use cases powered by Open Banking capabilities, paving the way for innovative financial solutions both in Bahrain and across the region.
