黑料社区

RIYADH: Lean Technologies is gearing up to seize new opportunities as 黑料社区 and the UAE roll out major regulatory reforms poised to transform the region鈥檚 financial services landscape.鈥�

With the introduction of payment initiation services and open finance frameworks expected over the next 18 months, the company is entering a pivotal stage in its efforts to build the digital infrastructure underpinning financial innovation across the Gulf.

鈥淲e鈥檙e heads down right now focused on the rollout of the two regulatory updates,鈥� said Hisham Al-Falih, CEO of Lean Technologies, in an interview with Arab News. 

鈥淭hese are both massive opportunities we鈥檝e been waiting for since the beginning,鈥� he said, referring to the upcoming rollout of open finance in the UAE and payment initiation services in 黑料社区.

Founded in 2019, Lean Technologies set out to bridge critical infrastructure gaps that had long stifled fintech innovation across the region.

Al-Falih, who returned to 黑料社区 after several years in Silicon Valley, was struck by the lack of digital financial services in a market marked by high mobile penetration, a youthful population, and a growing venture capital ecosystem.

鈥淭here was a big gap in the market when it came to accessing consumer data and accessing cutting-edge payment capabilities,鈥� he said. 

Lean鈥檚 core offering enables businesses to access consumer-authorized bank data and real-time payment services within a fully regulated framework.

The company collaborates closely with regulators and financial institutions to provide secure, compliant connectivity that supports a variety of applications 鈥� from onboarding and credit scoring to payment processing and account verification.

Since its inception, Lean has partnered with over 300 enterprise clients and financial institutions across the UAE and 黑料社区.

It currently handles more than $2 billion in transaction volume and projects reaching $2 billion in annualized volume in the UAE alone by the end of the year.

Lean鈥檚 momentum was further strengthened by a high-profile funding round in 2024, bringing its total capital raised to over $100 million since inception. The latest round included a $67.5 million investment led by global investors such as Sequoia Capital, General Catalyst, and Bain Capital Ventures.

Although Al-Falih did not disclose Lean鈥檚 valuation or confirm unicorn status, he emphasized that the company is 鈥渧ery well funded for the foreseeable future鈥� and remains focused on execution rather than fundraising.

Future plans include deeper regulatory engagement, product innovation, and long-term preparation for a potential IPO. 

鈥淲e want to do what鈥檚 right for our stakeholders,鈥� Al-Falih said. 

One of Lean鈥檚 immediate priorities is guiding clients through upcoming regulatory changes in 黑料社区 and the UAE.

These regulatory shifts extend regulated access beyond traditional bank accounts to encompass a wider range of financial data, including loans, insurance, and investments.

Al-Falih explained that while open banking provides third parties with secure, user-consented access to bank account data, open finance broadens this access to include additional financial products such as investments, loans, savings, and insurance.

He described this as a natural progression from open banking, which has already enabled consumers to safely share banking data with third-party providers.

The advantages of this expanded data access are already evident. Lean鈥檚 platform supports clients across diverse sectors including lending, e-commerce, trading, and insurance.

For instance, buy now, pay later provider Tabby integrated Lean鈥檚 platform to reduce customer application times from days to minutes, enhancing credit decisions through real-time bank data access.

Talabat utilized Lean to automate vendor payouts and customer refunds, boosting operational efficiency.

Capital.com employed Lean鈥檚 account verification tools to cut onboarding drop-off rates by 30 percent and reduce transaction costs by 20 percent.

鈥淭hese are companies that are benefiting from our underwriting capabilities, our onboarding flows, and our payment capabilities,鈥� Al-Falih said. 

Lean also serves an advisory role within the regulatory ecosystem, actively collaborating with financial authorities across the Gulf to offer technical insights and ensure alignment with evolving compliance frameworks.

鈥淲e鈥檝e been working closely with central banks and associated parties in the ecosystem to provide our feedback,鈥� he said. 

The company holds a license from the Financial Services Regulatory Authority at Abu Dhabi Global Market and has received an in-principle approval from the Central Bank of the UAE.

Lean is also System and Organization Controls 2 compliant and has made significant investments in cybersecurity infrastructure to safeguard its platform.

SOC 2 is a compliance standard developed by the American Institute of CPAs that focuses on the security of a service organization鈥檚 systems and controls related to handling customer data.

鈥淲e have invested literally millions of dollars in our cybersecurity posture and maturity,鈥� Al-Falih noted. 鈥淭his is a responsibility that end users are endowing on us, and we don鈥檛 take that lightly.鈥� 

Despite strong uptake among enterprise clients, Al-Falih acknowledged that open banking remains relatively unfamiliar to the general public. 鈥淪ometimes we mistake terminology with adoption,鈥� he said. 

The CEO noted that open banking is often embedded in everyday digital experiences 鈥� such as bank transfers, wallet top-ups, and online onboarding鈥� even if consumers are unaware of the infrastructure behind it.鈥═rust, he added, remains crucial to user adoption. 

Lean has observed that consumers are more likely to opt in to open banking services when these are offered through well-known, established brands.

鈥淭he highest conversion comes from merchants that are already a trusted brand,鈥� he said. 

While user interface design and clear communication play a role in driving adoption, Al-Falih emphasized that technical performance and strong security credentials are ultimately the most critical factors.

Looking ahead, Lean is exploring the convergence of artificial intelligence and digital assets as a new frontier for innovation.鈥═he company sees promising use cases for generative AI in helping consumers better manage their finances, as well as for stablecoin technologies that could lower transaction costs and improve the speed of digital payments.

Al-Falih pointed to the rise of agentic AI 鈥� autonomous systems capable of making decisions on behalf of users 鈥� as a potential game-changer in personal finance. Such tools, he said, could one day optimize account activity in real time based on an individual鈥檚 risk profile and financial goals.

While Lean has not yet announced specific products in this space, Al-Falih confirmed that the company is actively exploring how to integrate these technologies into its platform to deliver greater long-term value to users.

Despite the company鈥檚 progress, Al-Falih emphasized that Lean鈥檚 mission is far from complete. 

鈥淲e don鈥檛 feel anywhere near like the mission is complete,鈥� he said. 鈥淭here鈥檚 still a very long way ahead of us.鈥�