Emirates NBD announces partnership with Hub71 to accelerate FinTech innovation

Pact to focus on tailored solutions and streamlined services

Top Stories

Dubai: Sheikh Mohammed announces Dh30-billion rain drainage network

Paid parking in Dubai: Residents face up to Dh4,000 extra yearly costs when new rates kick in

UAE: Worker wins Dh1 million in National Bonds draw after saving Dh100 every month

Published: Tue 19 Dec 2023, 4:43 PM

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has announced a partnership with Abu Dhabi’s global tech ecosystem, Hub71, to empower customers with FinTech solutions.

The partnership opens doors to an array of possibilities that include expanding market reach to Abu Dhabi and introducing innovative financial solutions that cater to evolving customer needs, strengthening the bank's commitment to driving industry-wide advancements.

Abdulla Qassem, group chief operating officer at Emirates NBD, said: “This collaboration marks a significant step towards elevating customer experiences as Emirates NBD Bank harnesses the entrepreneurial spirit of Hub71 to offer tailored solutions and streamlined services for our valued customers.”

Hub71 has onboarded more than 260 startups, which have collectively raised nearly Dh5 billion since its inception in 2019. The global tech ecosystem provides the world’s most promising startups with incentives, programs and access to a vibrant community with a network of more than 140 local and regional corporate, government and investment partners to support their development and growth from Abu Dhabi to international markets. The UAE leads the Middle East and North Africa (MENA) FinTech market, reaching a record-high investment of $2.5 billion in 2022.

Ahmad Ali Alwan, deputy CEO of Hub71, commented: “At Hub71, we champion the growth of innovative startups scaling technology applications that can transform the future of finance and other sectors. Our partnership with Emirates NBD will pave the way for startups to validate products, secure commercial deals, and receive expert mentorship. By partnering with one of the UAE’s most progressive banks, we are creating a powerful combination for FinTech startups pursuing growth.”

The UAE is a frontrunner in the global FinTech landscape, exhibiting remarkable growth potential, following significant innovation in digital banking, wealth management, remittances and payments.