Emirates NBD announces global metaverse start-up competition

Emirates NBD, a leading banking group in the MENAT region (Middle East, North Africa and Turkey), has launched a global accelerator programme for metaverse start-ups to enhance customer experience in the new virtual economy in partnership with Dubai International Financial Centre (DIFC) Fintech Hive, the largest financial technology hub in the Middle East, Africa and South Asia (MEASA) region, and supported by technology provider Microsoft.

The accelerator programme is Emirates NBD’s first play in the meta-universe, and positions the bank to lead the next phase of banking innovation in line with the Dubai Meta-universe Strategy, which aims to make Dubai one of the top ten meta-universe economies, support over 40,000 virtual jobs by 2030 and boost Dubai’s economy by $4 billion over five years.

With 94% of all financial transactions and enquiries conducted outside branches, the bank is exploring new technologies in the web 3.0 world to expand its digital presence and create an immersive experience for our customers.

Emirates NBD is seeking out leading fintech companies, digital start-ups and emerging technology players operating in the meta-universe to strengthen its immersion in the virtual world in three key areas: building a technology stack to move to 3D, creating virtual worlds to empower customers in the meta-universe and creating a decentralised payment infrastructure to create, monetise, buy and sell digital assets and services.

During the ten-week acceleration programme, ubai International Financial Centre Fintech Hive will evaluate and select for Emirates NBD leading startups offering unique value propositions, expertise and the technology stack needed for the meta-universe. This will culminate in a demo day at GITEX, where shortlisted participants will present their solutions for an opportunity to co-create engaging experiences for our customers in the new reality.

Source: Dubai Media Office

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