Tagged: middle east

OG Bank and OG Pay Team Up with Banking as a Service Provider, Bankable, to Offer Digital Banking in the UK and Germany

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

Financial Giant HSBC Voted Leading Trade Finance Bank in Bahrain in EuroMoney’s 2020 Survey

HSBC, a British multinational investment bank and financial services holding company with over $2.5 trillion in total assets, has reportedly been voted as the leading trade finance bank in the Middle Eastern country of Bahrain in the Euromoney trade finance survey for 2020. This is… Read More

Qatar Financial Center Records 33% Growth with Over 800 Fintech, IT, Tax, and Investment Consulting Firms Now Part of the Organization in 2019

The Qatar Financial Center (QFC), one of the largest and fastest-growing business and financial centers in the Middle Eastern country, ended 2019 with a significant 33% growth, as nearly 200 companies registered on QFC’s platform. The number of firms establishing operations out of the QFC… Read More

Over 60% of United Arab Emirates’ Adult Working Population Is Still Not Using Modern Financial Services: Report

Dubai UAE Beach Camels fredrik-ohlander-unsplash

The global payments industry is evolving rapidly and will only be developing faster in the coming years according to several reports. From digital transformation efforts to the increasing competition among Fintech firms to innovate, it is becoming more important for companies to upgrade their tech… Read More

MoneyGram Collaborates With EbixCash to Expand Presence in India

Digital money transfer service MoneyGram (NASDAQ: MGI) announced on Monday it has formed a new partnership with  EbixCash, an international supplier of on-demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, to bring enhanced services to millions of consumers across India…. Read More

Fintech in the Middle East: Saudi Arabia Might Be Shifting Economic Focus from Oil to Financial Technology

Crude oil production in Saudi Arabia slowed down considerably last year, from 10,643 BBL/D/1K in December 2018 to only 9,890 BBL/D/1K in November 2019. Steady and continuous drops in crude oil production may be attributed to several different factors, such as the attendant impact on… Read More

Insurtech: Solidarity Bahrain, a Leading Insurance Technology Platform, Launches New Core Insurance System

Solidarity Bahrain, one of Bahrain’s largest insurance service providers and a subsidiary of Solidarity Group Holding, has reportedly launched its newly developed core insurance system, TCS BaNCS. The TCS BaNCS insurance platform is part of the foundation of Solidarity’s digital transformation plan and has been… Read More

Uber Completes Acquisition of Middle East-Based Internet Platform Careem

Uber (NYSE: UBER)  announced on Thursday it has officially completed the acquisition of Careem, an internet platform for ride-hailing that is based in the Middle East. Uber reported that it acquired Careem for $3.1 billion. Founded in 2012, Careem offers services in mass transportation, delivery… Read More

Cashless Payments Have Become Popular, But Demand for Cash Still Strong in Rural and Unbanked Communities: Report

Cashless or digital payments have become increasingly popular, however, cash still remains a widely-used payment method in most nations, especially in rural communities and jurisdictions with a large unbanked population. Following many years of steady growth, the total number of cash withdrawals made via ATMs… Read More

75% of Customers in the UAE Prefer Online Banking Over Visiting Physical Bank Locations

Three out of four, or 75%, bank customers in the United Arab Emirates (UAE) prefer managing their finances online, instead of visiting a physical bank location. A majority of bank customers’ visits to physical locations has decreased to 0-2 times per year, according to a… Read More

Vocalink Teams Up With Saudi Payments to Introduce Real-Time Payments to Saudi Arabia

International payment systems provider Vocalink, a Mastercard company, announced last week it has partnered with the Saudi Payments, a fully owned subsidiary of the Saudi Arabian Monetary Authority (SAMA), to launch real-time payments in Saudi Arabia. According to Vocalink, the partnership will enable account-to-account payments… Read More

Plug and Play ADGM Announces Nine Startups Participation in Second Fintech Innovation Platform

Fintech

Plug and Play Abu Dhabi Global Market (ADGM) announced on Tuesday it has kicked off its second fintech accelerator and innovation program in the Middle East. The organization has partnered with BNP Paribas, Boubyan Bank, Finablr Group, First Abu Dhabi Bank (FAB), and Riyad Bank. According… Read More

Temenos Announces New Partnership With Al Rajhi Bank

Fintech

Temenos AG (SIX: TEMN), the Switzerland based banking software provider, announced on Wednesday it has been selected by Al Rajhi Bank, a Saudi Arabia-based bank, to enhance its Islamic lending and financing product capabilities. The bank has opted for a complete renovation using Temenos T24 Transact as well as… Read More

KoreConX Announces Partnership With Middle East Consultancy Firm Metis

KoreConX announced over the weekend it has formed a partnership with Metis Management Consultancy, a UAE-grown consultancy firm focused on providing services to SMEs in the MENA region. KoreConX reported that Metis will become part of the KorePartner’s Ecosystem, which is described as a group of selected… Read More

Finastra Joins Bahrain Fintech Bay Hub: Now Seeks to Accelerate Bank & Fintech Collaboration in the Middle East Region

UK-based Finastra announced on Thursday it has joined the Bahrain FinTech Bay hub, which reportedly brings financial service players from various financial institutions, banks, and investors to fintech companies, developers, industry bodies and academics in order to drive innovation and create new growth opportunities. Finastra… Read More

Pundi X Technology to Launch in the Gulf & Middle East Thanks to Partnership With ebooc

  Pundi X (CURRENCY: NPXS) announced on Wednesday will make its debut in the Gulf and Middle East following a partnership with fintech company, ebooc. Pundi X reported that it will work closely with ebooc on developing digital payment gateway services for governments, financial institutions and major corporates in the… Read More

LATTICE80 Names Top Fintech Influencers in Europe, Asia & the Middle East

In an effort to identify key innovators in fintech, the LATTICE80 team has created “top” Fintech influencers lists in Europe, Asia and the Middle East.  The Fintech Hub’s  lists are prefaced with sector highlights. Let’s start with Europe: “The Fintech industry in mainland Europe and… Read More

Bahrain FinTech Bay Opens: Announces Startups & Founding Partners

Last week, the Middle East and African fintech hub, Bahrain FinTech Bay, announced it is now officially open for business. Along with its opening, it also announced startups and founding partners. Bahrain FinTech Bay claims it is the region’s largest fintech and is aiming to… Read More

India-based Online Lender Capital Float Secures $45 Million During Series C Funding Round Led By Ribbit Capital

Last week, India-based online lender Capital Float announced it secured $45 million during its Series C funding round, which was led by Ribbit Capital with participation from returning investors SAIF Partners, Sequoia India, and Creation Investment. Founded in 2013, Capital Float describes itself as a… Read More

I MOU You: Qianhai Authority & FSRA of Abu Dhabi Global Market Enter Partnership

The Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Authority) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) entered into a new partnership to further develop and promote closer investment and financial innovation opportunities and collaborations for… Read More

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