Open Banking

Open Banking is a new approach spreading swiftly in the global banking industry. Using Open Banking approach, banking operations are no longer restricted to the bank branches. Open Banking provides customers with the opportunity to perform all their banking operations using their internal software without visiting a branch or manually making data entries in internet banking services.
It is worth mentioning that a direct link between the customer’s internal software and the core banking system is required to be established. So that customers may enjoy their access to MEB Open Banking plat-from. In other words, the central integrated banking system acts as the core layer and carries out the main operations, in which the intermediary customers’ software (financial, accounting, etc.) are linked to and are able to do their financial and banking processes through their internal systems, efficiently, securely and in real time. The cooperation of the two enables the bank to provide businesses with all services beyond regular working hours, around the clock.

Open Banking services:

• Receive Account Balance
• Account statements
• Consolidated statement of POS terminals and payment accounts
• POS terminal statements
• Verification of the validity of the account numbers, the IBAN numbers and card numbers
• Collective Destination Validation
• Convert account number to IBAN
• Convert card number to account/IBAN number
• Match National Code (ID) and Account Number
• Middle East Bank internal transactions
• Intra-bank transactions [Satna (RTGS) /Paya (ACH)]
• Batch Paya (ACH) transaction
• Combined Batch Transaction
• List of the checks deposited to the account
• Sayad services
• Bill Validate
• Pay Bill
• Add / Remove beneficiary

Procedure for online payment via open banking

• Initiation of financial transaction
• Approve/reject transaction by checkers until withdrawal terms and conditions are met

* Adding control layers (Supermaker) is feasible for open banking customers. Transactions will be sent to checker’s dashboard only if the supermaker has been approved it.
* You may have control layers as much as you need.
* Open banking transactions’ approval is done through Middle East Mobile Banking application.

* Please note that in order to access Open Banking services, a direct link between customers’ internal software and the banks system is required. For further information please visit a Middle East Bank branch