Emirates NBD marks its 5th year of engagement with DIFC FinTech Hive
Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, celebrated its fifth year of collaboration with DIFC FinTech Hive, the largest financial technology hub in the Middle East, Africa and South Asia (MEASA) region and part of the Dubai International Financial Centre (DIFC), having successfully completed two stages of the FinTech Accelerator programme.
Emirates NBD has partnered with DIFC FinTech Hive since 2017, supporting start-ups in turning their ideas into working prototypes, leading to numerous successful integrations. In 2020, Emirates NBD announced a successful integration with Norbloc, a global leader in KYC blockchain technology and participant in the 2017 FinTech Accelerator Programme, for the UAE KYC Blockchain Platform. Other successful integrations include JigSaw, SmartEngine, Vision Labs, Verrency and Kasisto.
FinTech Accelerator 2021 was held in a hybrid format with two innovation sprints, from May to June and September to October, offering flexible participation throughout the year. In these groups, the bank looked for solutions using artificial intelligence, machine learning and other advanced compliance and payments technologies that directly impact customer experience and straight-through processing (STP), and selected four FinTech companies for the next deep dive. Eligible participants will move on to the next stage for more in-depth discussions with their respective business units on the business model, technology, proof of concept, etc.
As part of its partnership with DIFC FinTech Hive, Emirates NBD has also acted as a key partner in AccelerateHer, a mentoring programme for women aimed at the professional and personal development of young women in the industry.
Raja Al Mazrouei, executive vice president of DIFC Fintech Hive, said: “Emirates NBD has been our partner since the beginning and every year we see an increasing drive for digital transformation and acceleration. The structure of our FinTech Accelerator sprints allows us to directly address our partners’ priorities by gaining access to the most innovative FinTech solutions from around the world. This year, Emirates NBD had access to 44 FinTech solutions, and we are delighted to have hosted a pitch day for Emirates NBD to select the solutions they would like to adopt and work with. We look forward to continuing our fruitful partnership with the bank.”
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