Hub71 and Emirates NBD partner to accelerate fintech innovation
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 cutting-edge FinTech solutions and drive a new era of advanced banking services.
As a leading local bank with regional and international operations, Emirates NBD’s alliance with Hub71 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, “As a leading local bank that has always been committed to driving innovation in the region, Emirates NBD leads the future of banking to enhance financial prosperity for its customers, people and communities. 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 AED 5 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 USD 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.