February 24, 2022
Mashreq invests in NymCard to support UAE fintech ecosystem
Mashreq has invested in NymCard, the Middle East's Banking-as-a-Service provider, in order to promote the UAE's thriving FinTech sector and the next generation of innovators, said a company statement. Through NymCard's contemporary open APIs, it will enable fintechs of all sizes to establish business propositions that require payment card capabilities. The deal's terms were not made public.
February 8, 2022
Postpay and CBD sign FinTech-Bank collaboration
Commercial Bank of Dubai has approved a debt financing deal with Postpay, an omni-channel Buy Now, Pay Later provider in the Middle East, according to a media release. This inaugural debt financing arrangement is another example of how FinTech and traditional banks are partnering to leverage their collective experience and expertise to enhance the suite of financial products offered in the market.
December 16, 2021
UAE’s first licensed fintech LNDDO announces cooperation with Mambu
LNDDO provides SMEs with a totally digital onboarding experience, which is a novel approach to lending in the UAE. LNDDO's major distinction is a five-minute, all-digital onboarding process and a ten-minute credit decisioning process, both of which are among the fastest in region. Fintech companies use technology to ensure quick processes and consumer interaction, fintech needed a cloud-native banking platform.
November 21, 2021
VentureSouq introduces the MENA region’s first FinTech Fund
Suneel Gokhale commented: "In 2020, we started to reflect on what FinTech adoption in the MENA region was going to look like, and we dove right in. Based on emerging markets that we have invested in, we believe it is still early days in terms of FinTech ecosystem in MENA region, and we are excited about the overall opportunity set."
November 1, 2021
Monty Finance to enter MEA next year with latest FinTech services
Monty Finance’s consumers can avail of its features including digital on-boarding, personal financial management, and next-generation payment instruments. At the same time, end-users will also be able to receive virtual and physical cards, avail competitive digital lending options in due course, utilise its AI-tailored offerings, and engage in Monty Finance loyalty programs accompanied by reward coupon management and redemption opportunities.
October 28, 2021
Saudi-owned Rasan fintech showcased at Gitex Global
"Our Tameeni Motor, Tameeni Health, and Treza platforms are developed in KSA and are fully integrated with insurance companies, data providers, as well as electronic payment portals. It enables Rasan customers to get insurance quote in a matter of minutes. Also highlighted KSA's Vision 2030 contributed to the development of Saudi financial and insurance technologies ,” said Moayad Alfallaj.
October 20, 2021
Fintech Galaxy successfully raises $2 million seed funding
Commenting on closing of the funding round, Mirna Sleiman, Founder & CEO, Fintech Galaxy, said, "Fintech Galaxy is driving the development of a much richer, broader financial technology ecosystem that goes well beyond banking to include insurance, asset management, exchanges, and pensions. We have designed the platform in collaboration with institutions and regulatory bodies from multiple jurisdictions across the region. "
October 9, 2021
DIFC joins Fintech Surge as a strategic partner for the launch edition
This event comes at a time of revolution in the financial services sector and will provide a platform for FinTech companies to explore significant opportunities for growth. DIFC remaining at forefront of FinTech in the region and to lead the future of finance, providing all the necessary tools to develop the sector, supporting both start-ups and more established tech companies.