Banking & Insurance

Dubai Islamic Bank PJSC (DIB) has chosen IBM Consulting as its services provider to accelerate its data transformation journey and help the bank to build a robust foundation

Wio, a state-backed digital bank, has been given the go-ahead to launch in UAE which in the beginning will focus on small and medium enterprises with a goal of public listing in the future. Wio is held by the Abu Dhabi sovereign wealth fund ADQ, Alpha Dhabi, and Etisalat, to 65%, 25%, and 10%, respectively. It received initial authorization to start operations from the UAE central bank in February.

GIG Gulf, one of the largest insurance providers in the MENA region, has launched EasyClaims, the first purely digital real-time end-to-end motor claims platform available in four major GCC markets: the UAE, Qatar, Oman, and Bahrain. EasyClaims is a new online journey that allows GIG Gulf customers to instantly register their motor insurance claims by entering only the most basic mandatory information, with no paperwork and no waiting time.

SAS announced that Saudi Export-Import Bank (Saudi EXIM Bank) has […]

CBI is among one the early adapter bank in the middle east region to establish a virtual Metaverse presence in Decentraland, a notable blockchain-based world. Decentraland also hosts Warba bank, a Kuwait-based Islamic bank. Warba also has a site in the sandbox showing a strong footing in the metaverse.

The UAE student population is heavily concentrated in core STEM fields such as ICT, Engineering, and Natural Sciences. This is an excellent opportunity to upskill STEM graduates by putting the skills they have learned into real-life work experiences with industry experts, resulting in a larger pool of UAE talent capable of building next era of technology solutions, primarily Artificial Intelligence.

According to a global survey of 300 C-suite banking industry executives, 54% believe their financial institutions have faced increased competition from digital alternatives over the last three years. These executives, however, indicate that they are better positioned to compete. Notably, 84% said they have the necessary technological tools to create new digital products and services to some extent or more.

These five businesses will join a network of over 300 startups that have taken part in the award-winning Start Path startup engagement program. They will be able to collaborate with Mastercard's global ecosystem of banks, merchants, partners, and digital players to deliver and scale open banking solutions. Start Path alumni are now entering public markets, achieving unicorn status.

New research from payment solutions provider Checkout.com has revealed that half of UAE residents are using digital wallets for the first time.According to the survey, security is still the most important factor for UAE residents when shopping online, with nearly 40% of respondents trusting digital wallets as much as banks. Indeed, the future looks bright for digital wallets, with 48% of respondents.

The study, Bridging the Disability Gap: An Opportunity to Make a Positive Impact, reveals that for people with disabilities, digital inclusion is the path to financial inclusion. Governments' adoption and prioritization of policies to improve service accessibility paves the way for public and private sector financial institutions, mobile network operators (MNO), fintech providers, and other organizations to develop and implement solutions.