Tagged: middle east

March 27, 2020 @ 6:06 pm By Omar Faridi  |  

National Bank of Oman (NBO), one of the largest financial institutions in the country and its first local bank, aims to raise awareness regarding the importance of practicing safe banking during the coronavirus (COVID-19) outbreak. The NBO has taken several measures to ensure its clients… Read More

March 24, 2020 @ 1:05 am By Omar Faridi  |  

Dubai-headquartered Fintech firm Rise has secured funding via an investment round led by Middle East Venture Partners (MEVP). The round was carried out through a partnership with Dubai International Financial Centre (DIFC) Fintech Fund, 500 Startups, Khwarizmi Ventures and Phoenician Funds. The amount invested has… Read More

March 21, 2020 @ 10:08 am By Omar Faridi  |  

stc Bahrain, a Fintech solutions provider and telecommunications firm, has revealed that it’s introducing new working procedures, in order to ensure safety of its workers during the coronavirus (COVID-19) outbreak. The Bahrain-based Fintech said it aims to continue to offer innovative financial services to support… Read More

March 18, 2020 @ 11:05 am By Samantha Hurst  |  

Digital brokerage solution provider DriveWealth announced on Wednesday it has formed a partnership with UAE-based wealth management company and online investment platform, Wealthface. DriveWealth reported that the partnership is its first initiative in the Middle East and North Africa (MENA) region. As previously reported, DriveWealth… Read More

March 17, 2020 @ 11:36 pm By Omar Faridi  |  

Oman’s Ministry of Technology and Communications (MTC) has committed to a memorandum of cooperation (MoC) with BankDhofar at the Sas Center for the 4th Industrial Revolution (4IR), in order to manage a technology innovation lab at the center. The MoC was reportedly signed by Dr…. Read More

March 17, 2020 @ 3:23 pm By Omar Faridi  |  

Liv, the digital banking division of Emirates NBD, a Dubai government-owned banking institution and one of the largest financial institutions in the Middle East, is planning to provide customers instant access to their credit scores, with just a single click. The Al Etihad Credit Bureau… Read More

March 16, 2020 @ 9:02 am By Omar Faridi  |  

Two major Fintech companies, Aion Digital and Qarar, are teaming up in order to accelerate the growth and development of online lending platforms across the Middle East region. According to a press release, the collaboration between the two Fintechs aims to “revolutionize the credit market”… Read More

March 14, 2020 @ 11:23 am By Omar Faridi  |  

Two Fintech companies are teaming up to develop a new banking service for young people living in Saudi Arabia, who may prefer to make cashless payments from their mobile devices. Digital Bank challenger Moven, which was established by Brett King in 2010, will be partnering… Read More

March 10, 2020 @ 12:57 am By Omar Faridi  |  

The financial sector in Dubai will be expanding at a gradual pace and only if there is enough demand for new platforms and services, according to the local financial district’s governor. The state-owned Dubai International Financial Centre (DIFC) began expanding its operations in 2019. It’s… Read More

March 8, 2020 @ 8:25 pm By Omar Faridi  |  

HPS, a payments technology and services company, has reportedly been chosen by the Saudi Arabia Monetary Authority (SAMA) to offer a QR-based payment platform. The HPS deal is part of the Middle Eastern country’s larger Fintech development initiative. HPS will be overseen by Saudi Payments,… Read More

March 6, 2020 @ 10:07 pm By Omar Faridi  |  

Kuwait-based company Path Solutions has introduced the Path Digital and Path Intelligence platforms to allow local banks to offer clients a seamless and intelligent digital banking experience.  The Fintech solution provider noted that the launch of the new platform will complement its new Intelligent Digital… Read More

March 2, 2020 @ 7:30 am By Omar Faridi  |  

The Dubai International Financial Center (DIFC) has committed to a memorandum of understanding (MOU) with Singapore’s Tribe Accelerator, a government-backed blockchain or distributed ledger technology (DLT) project accelerator. According to the terms of the MoU, the DIFC and Tribe Accelerator aim to work cooperatively on… Read More

March 2, 2020 @ 12:35 am By Omar Faridi  |  

Monaco-based Fintech Privatam is expanding its operations by offering its services in Dubai. The company notes that the Middle Eastern city is a major regional financial and commercial hub and a key contributor to global capital markets.  Privatam’s founders (who are fellow investment bankers) include… Read More

February 24, 2020 @ 10:12 am By Omar Faridi  |  

Large banks based in the United Arab Emirates (UAE), one of the Middle East’s leading financial hubs, have been investing in digital transformation projects to compete in an industry with rapidly changing consumer requirements – according to analysis performed by Bloomberg Intelligence. The analysis revealed… Read More

February 19, 2020 @ 9:21 am By Omar Faridi  |  

Fiserv, Inc. (NASDAQ: FISV), a leading multinational firm focused on offering financial services technology platforms, has teamed up with Visa, Samsung and PayCore in order to test the use of consumer-grade smartphones as PIN-entry devices for retail sales transactions. The new capability can be accessed… Read More

February 5, 2020 @ 10:19 pm By Omar Faridi  |  

The United Arab Emirates’s (UAE) Ministry of Health and Prevention (MoHAP) has teamed up with the nation’s Ministry of Presidential Affairs, Dubai Healthcare City and several other local government agencies in order to launch a blockchain-enabled health data storage platform. The Emirates News Agency reported… Read More

January 29, 2020 @ 9:09 am By Omar Faridi  |  

Dubai-headquartered Sarwa confirmed on January 27 that it had finalized an $8.4 million Series A investment round, which was led by Kuwait Projects Company (KIPCO). The firm’s hybrid automated investment platform aims to simplify the process of investing while making it more affordable. Sarwa’s platform… Read More

January 29, 2020 @ 5:01 am By Omar Faridi  |  

Belgium-headquartered SettleMint, an enterprise blockchain firm, has reportedly secured €1.9 million (appr. $2.04 million) through a new investment round. KPN Ventures and Medici Ventures took part in the firm’s latest funding, SettleMint’s management confirmed on January 28. Following the capital injection, the company is planning… Read More

January 25, 2020 @ 11:02 am By Omar Faridi  |  

Dubai International Financial Centre (DIFC) Fintech Hive has announced the introduction of their investment-focused accelerator program for startups and other small companies in the Middle East, Africa and South Asia (MEASA) regions. The Fintech Hive Scale Up program will provide partnership and investment opportunities for… Read More

January 21, 2020 @ 9:15 pm By Omar Faridi  |  

A Dubai-headquartered Fintech firm focused on providing payment processing services will be launching OG Bank and OG Pay (On the Go), an online banking platform, chat-based digital payment wallet and an online point-of-sale (PoS) system – which will all be accessible and managed from mobile… Read More