Spire premier GCC Open Banking provider is set to expand its operations in Bahrain and the MENA region through a BD 15 million investment plan with support from the Bahrain Economic Development Board (EDB).
This expansion will create 200 jobs over the next three years in high-value data sciences and artificial intelligence sectors.
Spire graduated from the Central Bank of Bahrain (CBB) Open Banking Sandbox and was ratified by CBB to offer Open Banking services in Bahrain.
Spire aims to provide Open Banking compliance infrastructure and strategic financial management solutions for banking customers and small businesses.
“Open Banking will comprehensively change how banks and fintech engage with the larger economy,” Spire Technologies Board Chairman Osama Al Khajah said.
“Spire is empowering individuals and businesses and will help create more affordable and innovative financial solutions. Bahrain was a natural choice for Spire to launch its MENA business given the Kingdom’s strong regulatory framework, talent, and support from EDB and the central bank.”
“Spire’s success reflects Bahrain’s strong financial services eco-system, including open banking services, and we are pleased to support the company with its expansion and see it benefit from Bahrain’s pro-innovation regulatory framework and collaborative Team Bahrain approach,” EDB Financial Services, Technology, and Innovation, Executive Director Musab Abdullah said.
