Gulf International Bank Honoured for Best API Banking Initiative by Global Finance Innovators Awards 2023

Gulf International Bank (GIB) was honoured for Top Innovations in Finance for Open Banking by the Global Finance Innovators Awards 2023, winning for Best API Banking Initiative. This is Global Finance’s 11th annual awards programme dedicated to celebrating financial institutions that regularly identify new paths and design innovative new tools in finance. 

The initiative for which GIB was honoured, developed by the GIB Wholesale Banking Group’s Global Transaction Banking (GTB) team, provides for a seamless solution – enabling for instant and real time transactional banking services.  

GIB has been on a journey to be a leading API-enabled bank that empowers its customers and partners with direct connectivity to banking services through additional, convenient channels. GIB offers more than 40 APIs, serving customers across the group. The breadth and quantity of APIs offered demonstrate the bank’s ambition and vision to provide cutting edge services through technology, to all customer segments. GIB’s bespoke sector specific API services for insurance, transportation, energy, and technology including emerging FinTech sectors, demonstrate the bank’s commitment towards its strategy in meeting its customer and market demand.

GIB’s Global Transaction Banking business is a global provider for cash management and trade finance solutions to support its clients’ trade transactions, domestic and foreign currency accounts, and payment capabilities, together with account structuring facilities, complemented by payments and collections services to assist customers in optimising their cash flow cycle and improving operating efficiencies.