Emirates NBD and Hub71 Join Forces to Revolutionise FinTech in MENAT
Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has embarked on an exciting journey of FinTech innovation by forging a strategic partnership with Abu Dhabi’s renowned global tech ecosystem, Hub71. This groundbreaking collaboration is poised to reshape the landscape of advanced banking services and elevate customer experiences to unprecedented heights.
Together, we're empowering customers with cutting-edge #FinTech solutions, fostering growth for startups through validation, commercial deals, and expert mentorship.📈
Emirates NBD, known for its unwavering commitment to driving innovation, views this partnership as a pivotal milestone in its mission to enhance financial prosperity for customers, communities, and stakeholders. Abdulla Qassem, the Group Chief Operating Officer at Emirates NBD, underlined the significance of this alliance, stating, “Emirates NBD harnesses the entrepreneurial spirit of Hub71 to offer tailored solutions and streamlined services for our valued customers. Our goal is to lead the future of banking and cater to the evolving needs of our diverse clientele.”
Hub71: The Launchpad for Innovation
Hub71, on the other hand, has established itself as a beacon of innovation, having onboarded over 260 startups since its inception in 2019. These startups have collectively raised an impressive AED 5 billion, a testament to the thriving ecosystem that Hub71 has fostered. With incentives, programs, and access to a vibrant community comprising over 140 local and regional corporate, government, and investment partners, Hub71 has become the epicentre for startups seeking growth opportunities within Abu Dhabi and internationally.
A Symbiotic Partnership
Ahmad Ali Alwan, Deputy CEO of Hub71, shared his excitement about the partnership. He stated, “At Hub71, we champion the growth of innovative startups poised to revolutionise the future of finance and other sectors. Our collaboration with Emirates NBD will allow startups to validate products, secure commercial deals, and receive expert mentorship. By joining forces with one of the UAE’s most progressive banks, we create a powerful alliance to propel FinTech startups towards unprecedented growth.”
UAE: A FinTech Powerhouse
The United Arab Emirates (UAE) stands at the forefront of the global FinTech landscape, offering tremendous growth potential. The country has witnessed significant innovation in digital banking, wealth management, remittances, and payments, contributing to its status as a regional leader in the sector. Notably, the MENA FinTech market saw a record-high investment of USD 2.5 billion in 2022, firmly establishing the UAE as a hub for financial technology innovation.
The Path Forward
Emirates NBD’s partnership with Hub71 promises to deliver cutting-edge FinTech solutions that will not only reshape banking services but also redefine customer expectations. As the UAE continues to thrive as a FinTech powerhouse, this collaboration is poised to drive industry-wide advancements and ensure that the MENAT region remains at the forefront of financial innovation.
In an era where innovation and customer-centricity are paramount, Emirates NBD and Hub71’s partnership represents a shining example of the region’s commitment to shaping the future of finance. As they embark on this transformative journey, customers and stakeholders can look forward to a new era of advanced banking services that are tailor-made to meet the ever-evolving demands of the digital age.
