UAE Fintech Landscape Continues to Drive Innovative Developments and Solutions

0
  • UAE Reach EMEA Top Ten Fintech Deal List in H1 21, according to KPMG’s Pulse of Fintech H1 2021 – EMEA report.

In the United Arab Emirates (UAE), the fintech sector continues to grow and mature thanks to the growing adoption of digital payments, a flourishing e-commerce and a robust digital banking landscape, said GoFinance – a unique digital finance of its kind. and the insurance market which promises instant execution of financial products to its clients. GoFinance is essentially an online marketplace for financial products that provides an end-to-end solution where clients can search, compare, choose, apply and receive with just the tap of their screens. The platform, in addition to being available in English, is a fully Arabized financial platform in the marketplace, providing an excellent mechanism for the UAE’s digital-savvy local population and growing fintech organizations. .

Fintechs in the Europe, Middle East & Africa (EMEA) region reflect the industry’s global upward trajectory. KPMG’s Pulse of Fintech H1’21 report indicated that the UAE had reached the EMEA’s Top Ten Fintech deal list in H1’21. According to the same report, total Fintech investments in the EMEA region continued to increase, with more than $ 39 billion invested in the first half of 21, up from a total of $ 26 billion in 2020.

MAGNitt’s H1 2021 report for the UAE startup ecosystem showed that Fintech investments in H1’21 grew 49% year-on-year, while the sector accounted for 23% of all deals closed in the Middle East North Africa (MENA) region during the same period.

“The numbers speak for themselves: FinTech is growing exponentially in the UAE and across the region. This has been possible thanks to the constant efforts of the UAE government to foster smart and digital transformation in the country. The launch of the Dubai Digital Authority (DDA), launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai is a testament to this. At GoFinance, we understand the importance of this cooperation and really appreciate the innovative solutions and initiatives launched by the government. Fintech platforms not only help automate and streamline processes, but also structure data and provide companies with a roadmap for optimizing new and efficient ways of doing business, ”said Safwan Khalil, Director of the operation and co-founder of GoFinance. Safwan Khalil has over a decade of experience in the government of Dubai and is now setting up private companies, using his vast expertise in setting up businesses in Dubai.

Within this new and evolving FinTech ecosystem, GoFinance is uniquely positioned to help banks and clients easily perform their daily financial activities from the comfort of their own homes. Digitization has transformed how retail banking works and GoFinance wants to empower customers, banks and brokers by making the online banking process easier and improving the customer journey. GoFinance provides neutral advice that facilitates quick, easy and secure decision-making and integration of banking solutions.

“With the growth of FinTech and considering both – the opportunities and demand seen by the industry, FinTech will continue to evolve and take it to the next level. To support this, the UAE government is constantly relaxing and updating regulations to encourage the evolution of financial services, attracting both locals and expats, who wish to explore digital services online, whether they are ‘act of its public service or to buy products and services. As the Fintech industry continues to be an instrumental force for the changing economy, we have created GoFinance – a one-stop-shop for all banking and insurance products and services with real-time offerings and services. digitized. Thanks to the platform (English / Arabic compatible), customers can use the interface to create their profiles, authenticate their identities, digitally complete the “Know Your Customer” (KYC) process and perform all other financial activities, d ‘just a click away. Whether it’s opening a bank account or requesting a financing product, GoFinance is designed to provide a seamless customer journey that makes the entire process simple, secure and fast, ”Khalil added.

Share.

Comments are closed.