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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.

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.

Omanee brought together thousands of viewers and participants from around the world and over dozen different international companies with their representatives and speakers in the year’s biggest blockchain and fintech events towards Identity Blockchain.

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.

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."

Aman, a fintech subsidiary of Raya Holding Financial Investments, is participating in Cairo ICT for the second consecutive year as the region’s largest technology event brings new opportunities for growth.

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.

"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.

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. "

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.