In a groundbreaking achievement for the global fintech ecosystem, Pay10 Global has successfully executed the world’s fastest open finance transaction under the UAE Central Bank’s regulatory framework—an ambitious journey from regulatory mandate to live transaction completed in less than 12 months.
What sets this moment apart is the leadership of Pakistani fintech professional Saad Kaleem, who serves as the CEO of Pay10 Global. His role in this pioneering initiative underlines the growing influence of Pakistani talent in shaping international digital finance innovations. The transaction, conducted in partnership with Abu Dhabi Commercial Bank (ADCB), marks the first-ever open finance transaction executed under the UAE Central Bank’s forward-looking regulatory architecture.
This development, celebrated across the Middle East and North Africa region, also resonates globally as a first-of-its-kind success. The Central Bank of the UAE’s commitment to enabling open finance through regulation, policy, and strategic execution has now borne tangible results. And at the center of this achievement is Kaleem, a visionary leader driving Pay10 Global’s mission to transform how financial services are accessed and delivered across borders.
The historic transaction not only places the UAE at the forefront of regulatory innovation but also highlights the collaborative power of fintech firms, banking institutions, and government bodies. Saad Kaleem, along with Prabhpreet Singh (Harry Gill), Chairman of Pay10 Global, has led the firm with a clear strategic vision focused on inclusive, accessible, and secure digital financial infrastructure.
The partnership with Abu Dhabi Commercial Bank was essential in turning this vision into a reality. The bank’s openness to adopt cutting-edge fintech solutions and collaborate across the ecosystem reflects a shift in how traditional financial institutions are adapting to new digital realities.
The Central Bank of the UAE, under the leadership of Jonathan Holman-Rohwer, Head of Open Finance, has earned praise for its dynamic regulatory approach. Holman-Rohwer’s role in driving the open finance initiative from concept to execution within a year showcases a new global benchmark for how regulatory bodies can foster innovation without compromising on security or compliance.
This milestone signifies more than just a technological achievement. It represents a shift in the global financial narrative—where emerging market talent, like Kaleem from Pakistan, leads at the frontlines of innovation. It also paves the way for broader adoption of open finance across the MENA region and beyond, setting a precedent for other regulators and fintech firms to follow.
As fintech continues to evolve, the story of Pay10 Global and this landmark transaction illustrates what becomes possible when policy aligns with action. With fintech leaders like Saad Kaleem at the helm, the future of digital finance is not just bright—it’s already unfolding at record speed.
