Tagged: united arab emirates

India Fintech Startup Jingle Pay Set to Bring Neobanking Services to the Middle East

Jingle Pay, an India-based neobanking startup, announced on Thursday it is launching its fintech services into the United Arab Emirates (UAE). Launched in 2019, Jingle Pay offers social payment solutions for individuals and businesses on mobile as well as desktop platforms. “Jingle Pay has digitized… Read More

The Fintech Sector Will Become Even Stronger After COVID-19, According to New Report from Dubai

The Fintech sector will get stronger due to the COVID-19 outbreak, as more consumers begin using digital payments platforms and also as more people start working remotely, according to a new report from the Dubai Future Foundation (DFF). The report noted: “This sector will successfully… Read More

Mastercard and UAE’s Hub71 Sign MoU to Work Cooperatively on Global Fintech Projects

Payments giant Mastercard (NYSE:MA) has committed to a Memorandum of Understanding (MoU) with Hub71, a technology ecosystem based in Abu Dhabi Global Market Square that supports global Fintech initiatives and leading tech firms. As mentioned in the announcement, Hub71 is a flagship project of the… Read More

UAE based Fintech Spotii Introduces Buy Now Pay Later Platform via Partnership with Local Online Merchants

United Arab Emirates (UAE)-based Fintech firm Spotii has introduced its shop now (or buy now) pay later platform. The credit is provided at “no interest, no cost.” Spotii has teamed up with various online merchants, allowing them to provide four “cost-free” installments to customers when… Read More

UAE’s Authorities Request Financial Service Providers to Use Latest Fintech and Regtech to Help Follow AML Guidelines During COVID-19 Outbreak

The United Arab Emirates’ (UAE) top regulatory authorities have asked local businesses to leverage the latest Fintech solutions to counter anti-money laundering (AML) and other types of illicit financial activities. The advisory was issued by the nation’s reserve bank, Ministry of Economy, Ministry of Justice,… Read More

Finablr, a Global Platform for Payments and Foreign Exchange Solutions, Uncovers £1.3 Billion in Hidden Debt

Finablr (LON:FIN), a global platform for payments and foreign exchange solutions that was planning to secure $200 million (last year) in order to prepare to list on the London Stock Exchange, has reportedly uncovered a “hidden” debt pile of £1.3 billion ($1.625 billion). Finablr’s company… Read More

New MENA Region Fintech Report Released by Dubai-based Global Ventures, a Leading VC Firm

Global Ventures, a Dubai-based venture capital firm that recently finalized a $50 million investment round, has released a new report that discusses the state of Fintech in the Middle East region. Global Ventures’ extensive 59-page report covers the ongoing growth and development of the Fintech… Read More

Dubai-based VC Firm, Global Ventures, Secures $50 Million in Capital, Company’s Managing Partner, Basil Moftah, Confirms

Dubai-based Global Ventures, a venture capital firm established by Noor Sweid who was previously involved with the Dubai Future Foundation and Leap Ventures, has secured $50 million in capital. This, according to Basil Moftah, the firm’s managing partner, who shared the details of the investment… Read More

Dubai-based Fintech Mamo Pay Secures $1.5 Million in Funding to Launch Peer to Peer Payments App

Dubai-based Mamo Pay, a Fintech firm established by former Google employees, has secured  $1.5 million in capital, in order to streamline peer to peer (P2P) payments in the United Arab Emirates and wider Middle East region. As reported by Mena Bytes, Mamo Pay’s seed investment… Read More

Contactless Payments: Fintech PayBy Introduces Fast and Secure Mobile Payment App in the UAE, Following COVID-19 Outbreak

Individuals and organizations are increasingly looking for ways to access services that require minimal or no physical contact, following the deadly Coronavirus (COVID-19) outbreak. Fintech firm PayBy has introduced a fast and secure mobile payment services platform in the United Arab Emirates (UAE). PayBy’s solution… Read More

Padmini Gupta’s Dubai-based Fintech Firm Rise, which Helps Low Income Migrant Workers, Secures New Investments

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

Liv, the Digital Banking Unit of Emirates NBD, to Provide UAE Customers Instant Access to Credit Scores

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

Fintech Firms, Aion Digital and Qarar, Team Up to Accelerate Development of Online Lending Platforms in the Middle East

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

Digital Transformation: UAE Banking Executive Explains How Fintech, AI, Robotic Process Automation is Transforming Finance Sector

The United Arab Emirates’ (UAE) banking sector has become increasingly competitive due to the significant increase in the number of Fintech firms in the Middle Eastern country. The UAE has also established (for the most part) progressive regulatory guidelines and is in the process of… Read More

Digital Trade Finance: Giant Banking Group, Emirates NBD, Uses Fintech LiquidX’s Network to Sell Commodities 

New York-headquartered LiquidX, a globally accessible network for illiquid assets, recently revealed that it has added Emirates NBD to its network. Emirates NBD is a Dubai government-owned banking institution and one of the largest financial institutions in the Middle East in terms of total assets… Read More

State-Owned Dubai International Financial Centre Adds Over 2,000 Jobs, Records $139 Million in Net Profits

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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

Dubai International Finance Center and UAE’s Mashreq Bank Are Promoting the Use of a Secure Blockchain-enabled KYC Data Sharing Solution

Dubai International Finance Center (DIFC) and Mashreq Bank, the oldest privately-owned bank in the United Arab Emirates (UAE) with over $2.2 billion in annual revenue, are trying to encourage  other banks in the Middle East to take part in a blockchain-enabled know-your-customer (KYC) data sharing… Read More

Dubai International Financial Center Signs MoU for Tech Development with Singapore’s Tribal Accelerator for Blockchain and DLT Initiatives

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

WeChat Pay to Expand Operations and Services in the UAE Following Agreement with Tencent Holdings, Network International

WeChat Pay is planning to expand its operations and services in the United Arab Emirates (UAE), after an agreement was finalized between Tencent Holdings and UAE-headquartered solutions developer Network International. Merchants that use Network International in the UAE will soon have the option to set… Read More

Digital Tranformation Report: Traditional UAE Banks to Consolidate to Compete with Digital Banking Challengers

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

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