Latest news with #DubaiFinTechSummit2025
Business Recorder
6 days ago
- Business
- Business Recorder
UAE FinTech market set to hit $5.71 bn by 2029
The UAE FinTech market is expected to grow from $3.16 billion in 2024 to $5.71 billion by 2029, according to 'From code to capital: The UAE's FinTech revolution' 2025 report, published by Emirates NBD, in collaboration with PwC. It was previewed at the recent Dubai FinTech Summit 2025, where it was revealed that fintech startups in the UAE attracted around $265 million in 2024 – approximately one-third of total startup funding in the country. It also highlighted the proliferation of digital adoption, venture capital investment, as well as the widespread integration of AI. This surge has been powered by widespread consumer adoption, investor confidence, and strong partnerships across public and private sectors, added the report. Neeraj Makin, group head of strategy, analytics and venture capital at Emirates NBD said, 'The UAE's $265 million of FinTech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.' Stephen Anderson, Strategy Leader at PwC Middle East, said, 'This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies,' he was quoted as saying. The report also highlighted the impact of artificial intelligence in transforming every layer of financial services from personalization to compliance and risk modeling. In 2024, Dubai's venture-capital-backed FDI soared 39 per cent in 2024, attracting $222 million that flowed into startups based in Dubai – underscoring the city's growing appeal among global venture firms. Dubai was also recently ranked in the top five cities for fintech in the latest edition of Global Financial Centre Index (GFCI) rankings, with success being attributed to the contributions of the Dubai International Financial Centre (DIFC) over the past 20 years.
Mid East Info
24-06-2025
- Business
- Mid East Info
UAE Set to Lead Middle East FinTech Growth, reveals FinTech 2025 Industry Report by Emirates NBD and PwC - Middle East Business News and Information
UAE FinTech startups raised USD 265 million in 2024, representing one-third of national startup funding The UAE FinTech market is projected to grow from USD 3.16 billion in 2024 to USD 5.71 billion by 2029 89% of UAE consumers now use digital-first bank accounts Artificial Intelligence is transforming financial services, enhancing personalisation, compliance and risk management Collaboration across the ecosystem and innovative policies are driving regional FinTech leadership Dubai, United Arab Emirates,June 2025: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT), has released 'From code to capital: The UAE's FinTech revolution' 2025 report, developed in collaboration with PwC. Recently previewed at the Dubai FinTech Summit 2025, where the Bank served as Premium Banking Partner, the report offers a data-led outlook on the UAE's evolving FinTech landscape and provides a roadmap for ecosystem stakeholders driving financial innovation. Positioned as an industry-wide outlook, the FinTech 2025 Report offers insights into key regional trends from a surge in digital adoption and venture capital investment, to the widespread integration of AI. The UAE is increasingly recognised as a hub for FinTech activity, underpinned by strong regulatory support and a maturing ecosystem. Neeraj Makin, Group Head of Strategy, Analytics and Venture Capital at Emirates NBD, said: 'We are proud to launch the FinTech 2025 Report, showcasing the UAE's success as a FinTech hub, supported by Emirates NBD's innovation. The UAE's USD 265 million of FinTech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.' According to the report, FinTech startups in the UAE attracted around USD 265 million in 2024 – approximately one-third of total startup funding in the country. The local FinTech market is expected to grow from USD 3.16 billion in 2024 to USD 5.71 billion by 2029, powered by widespread consumer adoption, investor confidence, and strong partnerships across public and private sectors. Miguel Rio-Tinto, Group Chief Digital and Information Officer at Emirates NBD, said: 'Emirates NBD is proud to help drive the FinTech revolution in the region through strategic partnerships, in-house innovation and venture investments. With this report, we demonstrate how established banks can leverage FinTech for growth, efficiency and superior customer experiences. As the industry continues to evolve, we remain committed to building an open, collaborative ecosystem that delivers long-term value to our customers and the wider financial sector.' Stephen Anderson, Strategy Leader at PwC Middle East, said: 'This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies. Our commitment is to empower clients, partners, and communities to thrive in this smarter, connected financial future and the UAE is at the forefront of this revolution.' The report also highlights the transformative impact of artificial intelligence in reshaping every layer of financial services from personalisation to compliance and risk modeling. Emirates NBD's evolution from pre-AI to post-AI operations has led to measurable improvements in efficiency, control, and scale. As FinTech continues to scale, the report encourages proactive collaboration between banks and startups by embracing open APIs, regulatory sandboxes, and co-branded innovation models, critical to sustaining industry momentum and deepening customer impact. Read the full report. About Emirates NBD: Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As of 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion. Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region. Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
Al Etihad
26-05-2025
- Business
- Al Etihad
Alibaba Cloud MENA chief bullish on expansion in UAE and region
27 May 2025 00:38 MAITHEM AL ANBARI (ABU DHABI)Alibaba Cloud recently made a significant impact at the Dubai FinTech Summit 2025 by announcing partnerships with LuLu Financial Holdings and Ant Digital Technologies. These collaborations aim to enhance financial innovation in the Middle East and North Africa (MENA) region through advanced cloud solutions and generative AI technologies. Aletihad met with Eric Wan, Vice President of Alibaba Cloud International and General Manager for the Middle East, Turkey, and Africa, to discuss the company's plans for expansion in the region. Here are excerpts from the interview: Alibaba Cloud is recognised as one of the largest online and mobile commerce enterprises globally. How would you describe Alibaba Cloud's participation in the Fintech Summit in the UAE?Alibaba Cloud has benefited from robust participation at the Dubai FinTech Summit 2025. We announced strategic partnerships with LuLu Financial Holdings and Ant Digital Technologies during the summit. We also hosted a panel discussion at the summit focused on the future of financial services in an AI-powered world. The panel featured industry experts, including executives from Lulu Financial Holdings, Wio Bank and Zand Bank. How would you characterise Alibaba Cloud's position within the fintech market, and what are the anticipated developments for the future?Alibaba Cloud holds a significant strategic position in the fintech market, owing to its robust cloud infrastructure and advanced technologies that can empower financial institutions with high performance and scalability. Once companies delegate infrastructure management to the cloud, they can focus their efforts on their core competencies. We are recognised as a leading cloud provider globally and in the region and have been expanding our footprint in the fintech sector through various strategic partnerships and innovative solutions. Here in the MENA region, we offer a wide range of cloud-based services. These solutions provide the necessary agility, scalability, and security required by financial institutions to innovate and grow. Integrating cutting-edge technologies like AI and data analytics into our cloud offerings allows fintech companies to enhance customer experiences, improve operational efficiencies, and ensure regulatory compliance. Given our global presence – in 87 zones across 29 regions – we support fintech companies in scaling up their operations. In the UAE, besides the recent partnerships with Lulu Financial Holdings and Ant Digital Technologies, we also announced our collaboration with Zand Bank, the first fully licensed all-digital bank in the UAE. This partnership focuses on leveraging generative AI, blockchain, and payment technologies to boost the bank's digital capabilities. What insights can you offer regarding Alibaba Cloud's expansion in the UAE and the agreements it has established with local counterparts?The UAE is a key market due to its thriving economy, tech-savvy population, and strategic location as a global trade hub. Alibaba Cloud is fully committed to long-term investment and expansion in the region, and we have our sights set on more strategic partnerships and investments in digital infrastructure. We believe our strengths in technologies such as AI and cloud computing, and industry solutions in e-commerce, fintech, media, gaming, etc., will likely play a crucial role in supporting the UAE's vision for a diversified and innovative economy. As a first mover in public cloud computing, Alibaba Cloud established a presence here by opening a data centre in Dubai Internet City back in November 2016. With a goal to provide local businesses with robust, secure, and high-performing capabilities, this data centre underwent an upgrade to include state-of-the-art cloud infrastructure, enhanced analytics, databases, industry solutions, and AI services. We have been serving hundreds of customers from different sectors, especially retail, finance, media, gaming, and internet, in the UAE market. In March 2024, we also launched the MEA region's Alibaba Cloud Academy Training Centre. The centre empowers our ecosystem partners and customers by delivering physical and virtual training workshops and certification courses to equip them with the skills needed to thrive in a digital economy. We partnered with Mawdoo3, the GCC's largest online content publisher, to provide the platform with a cost-effective and high-performance cloud infrastructure, including services such as Elastic Computing Service and Relational Database Service (RDS). Another significant project involved the implementation of Alibaba Cloud's Web Application Firewall (WAF) for WEMART, a prominent supermarket chain in the Middle East, taking its business from offline to online during the COVID-19 pandemic. As Alibaba Cloud is being chosen by more and more local businesses as their trusted cloud service provider, we are positive that we will continue to grow. What are the forthcoming initiatives for Alibaba as a group, including Alibaba's cloud business, international expansion, or trends in financial performance?Looking ahead, Alibaba Cloud views the Middle East as a region ripe with opportunities, driven by its rapid digital transformation across various sectors. I want to emphasise Alibaba Cloud's long-term commitment to investing in the market and to contributing to the success of our local customers and partners. We will continue to introduce leading products and proven solutions in the AI and cloud computing sector to serve our local customers. We will expand our ecosystem with more local partners on board to address sector-specific pain points. We also plan to collaborate with more universities to enhance digital talent training.
Yahoo
15-05-2025
- Business
- Yahoo
Alona Shevtsova of Sends Highlights the Future of Responsible AI at Dubai FinTech Summit 2025
London, United Kingdom--(Newsfile Corp. - May 15, 2025) - Sends, a British payment provider, participated in Dubai FinTech Summit 2025, which occurred on May 12-13 at Madinat Jumeirah. Organised by the Dubai International Financial Centre (DIFC), the event draws over 9,000 attendees from 120+ countries, including top investors, founders, regulators, and fintech leaders. Sends To view an enhanced version of this graphic, please visit: Representing Sends, CEO Alona Shevtsova participated in a discussion on How regulators are shaping the future of AI in finance. The session addressed the balance between innovation and oversight in a rapidly evolving tech-driven industry. "Responsible AI is the future of finance. As AI rapidly transforms the financial sector, the role of regulators becomes crucial in setting ethical, transparent, and innovation-friendly frameworks. Clear and adaptive regulation protects consumers and market integrity and gives fintechs the confidence to build AI-driven solutions responsibly. Collaboration between innovators and regulators is the key to unlocking AI's full potential in finance," said Alona Shevtsova, CEO of Sends. This year's "FinTech for All" summit spotlights key topics such as AI, blockchain, digital economies, and sustainable finance. Sends showcases its latest innovations in cross-border payments, regulatory technology, and embedded financial infrastructure, underscoring its commitment to building a transparent, secure, and inclusive financial system. Given the growing influence of the Dubai Fintech Summit and the strategic role of Dubai as a fintech hub, it is expected to continue as an annual event, fostering innovation and collaboration in the financial technology sector. Sends is a valuable financial tool for both business and personal use. This spring, the company launched a zero-fee personal account opening offer. Learn more Contact Information For media inquiries or support, contact:support@ | contact@ Sends is a trade name of SMARTFLOW PAYMENTS LIMITED, registered in England and Wales (Company No. 11070048). Address: Office 39.18, Level39, One Canada Square, London, England, E14 5AB Marketing Department contacts: pr@ Contact: Anastasiia Pervushyna To view the source version of this press release, please visit Sign in to access your portfolio
Business Wire
14-05-2025
- Business
- Business Wire
Perfios Launches an AI-Powered Solution for Mortgage Operational Excellence at Dubai FinTech Summit 2025
DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Perfios, a leading global B2B SaaS TechFin, today announced the launch of ' Switch ', an AI-powered solution for mortgage operational excellence, at Dubai FinTech Summit 2025. This innovative platform aims to empower all stakeholders of the mortgage industry by transforming traditional mortgage processes and enabling a frictionless mortgage process. With 5+ years in the UAE, Perfios has established a strong presence in the banking sector with its flagship products adopted by top banks in the UAE. Perfios now onboards Lion Mortgage, a leading Mortgage Broker in the UAE, as the first client to adopt Perfios' Switch platform. Switch, built on Perfios' proven Credit Gateway and Nexus 360 technology, is an out-of-the-box independent platform that delivers an intelligent, automated mortgage cycle management system. The platform seamlessly connects multiple key stakeholders in the mortgage journey, starting with the broker, developer, valuer, and banks, while offering comprehensive features, including: Automated Lead Management AI-based Mortgage Proposal Generation based on client profiles Automated Forms generation Eligibility Calculations and Decision Engine Real-time Updates and Reporting Integrated Solutions for Bank Statement Analysis, KYC, and more Speaking at the unveiling ceremony at DFS, Pramod Veturi, International CEO, Perfios, said, 'Switch is a thoughtfully engineered platform that brings intelligence, speed, and transparency to the mortgage process, solving some of the most persistent pain points in the industry. Its AI-driven architecture enables smarter decision-making and operational efficiency for all banks, brokers and network partners. We're delighted to welcome Lion Mortgage as our first customer. This partnership marks a strong beginning for Switch, extends our relationships from Banks to Mortgage stakeholders, and also reflects the trust leading institutions place in our technology. We're happy to officially launch Switch at the Dubai FinTech Summit, a global stage for financial innovation!' Gaurav Gambhir, MD, Lion Mortgage, expressed enthusiasm about being the first to adopt Switch: 'At Lion Mortgage, we are committed to staying ahead of the curve by embracing technologies that enhance operational efficiency and elevate client experience. Switch, with its AI-driven workflows, real-time insights, and integration-ready design, has empowered us to deliver measurable value driven outcomes during the trial period of the last 3 months. These include a significantly enhanced client experience through superior service delivery, a notable reduction in error rate and turn around time, a productivity boost and a 25% increase in business volumes. We view this as a strategic leap forward in redefining the way mortgages are delivered in the UAE.' Perfios has been at the forefront of enabling global financial inclusion by empowering financial institutions with real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring, and more. The launch of Switch in the UAE market further strengthens this commitment, representing a strategic expansion that builds on Perfios' success in serving over 1000+ financial institutions across 19 countries. The platform's scalable architecture ensures seamless adaptability across different geographies while maintaining strict compliance with local regulations, making it a truly global solution for operations excellence. About Perfios: Founded in 2008, Perfios is a global B2B SaaS company serving the Banking, Financial Services and Insurance industry in 19 countries, empowering 1000+ financial institutions. Through their pioneering software platforms and products, Perfios helps financial institutions to take big leaps by shaping their origination, onboarding, decisioning, underwriting and monitoring processes at scale and speed. Perfios delivers 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and significantly accelerates access to credit and financial services for their clients' customers. Headquartered in Bangalore, with offices worldwide and with 75+ products and platforms, and over 500+ APIs, in Perfios, their clients have a confident and a robust start-to-end tech platform. To know more, visit and follow them on LinkedIn, Instagram. About Lion Mortgage: Lion Mortgage is a leading independent mortgage solutions provider based in Dubai. Established in 2013 by seasoned bankers, each bringing over 20 years of experience from top-tier financial institutions, the firm has helped over 8,000 UAE residents and international clients secure home financing with confidence. With a client-first philosophy and deep market expertise, Lion Mortgage delivers tailored mortgage advisory services that simplify the financing process, ensuring clarity, compliance, and peace of mind. The company is driven by a commitment to long-term financial wellbeing, consistently delivering exceptional client and partner experiences, operational excellence, and performance all enabled by smart, forward-thinking technology.
