UAE - FinTech Futures

UAE

Mashreq takes Oracle components around existing Flexcube core

Mashreq Bank is seeking to improve its transaction banking proposition.

Blockchain compliance firm Securrency raises $30m in Series B round

The new injection will help Securrency’s expansion in the UAE and the US.

Emirati tycoon Mohamed Alabbar to chair UAE challenger Zand

Zand is still waiting on its application for a full UAE banking licence.

Stripe takes first step into Middle East with UAE expansion

Digital payment transactions in the UAE during 2020 reached $18.5 billion.

Policybazaar raises $75m to power Middle East expansion

Indian insurance firm aims to sell $1 billion in contracts by 2022.

Emirates NBD chief digital officer leaves to pursue entrepreneurship

Evans Munyuki resigns after brush with COVID-19.

YAP throws hat into UAE’s digital banking ring

The start-up’s partner is National Bank of Ras Al Khaimah.

ICYMI funding round-up: Zolve, Symple Loans, Butn, FunGuard & more

We highlight a series of funding rounds that may have passed you by.

Anglo-Gulf Trade Bank signs for Fenergo client lifecycle tech

UAE-based bank picks vendor to aid its onboarding processes.

NymCard raises $7.6m for Banking-as-a-Service in MENA

The Series A funding round brings NymCard’s total investment to $12 million to date.

Pyypl’s regulation-first approach to MENA starts to pay off

“The options today are mobile money or banks,” says CEO.

ADQ’s unnamed neobank nabs new CEO from Emirates NBD

Patel joins the upcoming challenger after leading Emirates NBD’s challenger Liv.

Dubai-based Bankiom promises “new way” to manage money

Banking app promises fast account setup and loan processing.

Bahrain’s Tarabut Gateway brings its open banking platform to UAE

Tarabut Gateway is also opening two new offices, one in Abu Dhabi, and one in Dubai.

FAB transfers legacy banking licence to ADQ

A number of legacy banks in Dubai have launched digital-only services this year.

Commercial Bank of Dubai serves ‘low-income’ customers with Now Money

“[We’re offering a] much more advanced and cost-effective alternative”.

Trio of UAE banks go live with klip digital wallet solution

Klip uses QR tech to enable contactless payments.

Emirates NBD deploys new payments hub with TCS Bancs

The UAE bank goes live on TCS Bancs after kicking off the project in 2019.

EXCLUSIVE: Oracle wins deals with Mashreq Bank and Desjardins

Oracle has also picked up a new deal in Bangladesh.

UAE’s Network International to buy Nairobi fintech DPO Group

DPO is the largest online commerce platform operating across Africa.

Emirates NBD’s challenger Liv moves to ‘super app’ status

The challenger said it had acquired more than 300,000 users.

Commercial Bank of Dubai partners with Thunes for remittances

UAE-based bank enables transactions via its mobile app and online banking.

DIFC dips into $100m fund to invest in four start-ups

The Dubai-based innovation centre plans for Series A injections to come.

Dubai fintech Jingle Pay to launch digital banking in UAE

The start-up brands itself as a ‘Super App Neo Bank’.

Al Alam enters liquidation following KPMG’s Wirecard audit

The firm is central to whistleblower claims that Wirecard fraudulently inflated sales & profits.

Dubai fintech Ziina lands $850,000 and launches P2P payment app

The start-up’s funding round was led by San Francisco-based Class 5 Global.

Fintech Dapi takes on MENA’s scattered open banking landscape

“The region is super scattered,” says co-founder, Mohammed Aziz, regarding open banking regulations.

Travelex owner Finablr reveals $1bn hidden debt

Finablr’s debt sits at $1.3 billion, compared to the $334 million it reported.

DriveWealth extends to UAE with Wealthface agreement

Trading technology firm signs first Middle East deal.

Al Ansari Exchange chooses Pelican’s AI-based AML solution

Al Ansari Exchange hopes to create “an industry-leading compliance framework”.

GFH buys 70% stake in MENA payments fintech Marshal

Marshal has a 85% market share across the United Arab Emirates (UAE).

WeChat Pay boosts UAE footprint with Network International

Network International partners now able to connect to WeChat Pay.

Aafaq Islamic Finance goes live on Infosys Finacle

UAE institution revamps payments, core, and Islamic functions.

Dubai-based challenger OG Bank selects Bankable to tap UK and Germany

The bank says ‘OG’ stands for ‘on the go’.

Challenger banks in the Middle East

Featuring challenger banks in the UAE, Bahrain, Saudi Arabia and Israel.

How to choose the right jurisdiction for opening a company

Brigewest explores how the Middle East has become an attractive region for businesses.

Emirates NBD slashes 400 staff to cut costs

Dubai-based bank has been on a technology tear of late.

Dubai regulators sign fintech agreement with Luxembourg commission

The two countries build on a previous deal inked in 2007.

Central Bank of UAE plans new fintech office to power innovation

Governor Mubarak Rashid Al Mansouri says central bank has a “five pillar” approach.

R3 partners with Wethaq to digitise Islamic capital markets

The platform will make Sukuk more accessible.

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