Fintech News Middle East

Card-Not-Present Fraud Escalates Amid Sudden Surge in Online Shopping

The sudden surge in e-commerce activities has brought with it a rapid rise of card-not-present (CNP) fraud, costing e-commerce merchants

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India’s Cashfree Becomes Majority Holder in Telr With US$15m Investment

India-based payments and API banking solutions company Cashfree has picked up a majority stake in UAE and Saudi Arabia-based payment

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Regulating Virtual Assets: Practical Implementation and Adoption

Abu Dhabi Global Market guides the virtual asset industry with the world’s first fully comprehensive regulatory framework, ushering in a

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Going “Beyond Banking” in the UAE: Report

Banking solutions that go beyond traditional services are going to be an “important battlefield” for banking in the UAE. A

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How Can Financial Institutions Put a Stop to Account Takeover Attacks

Financial Institutions (FI’s) can detect and prevent account takeover attacks using continuous monitoring and adaptive multi-factor authentication. Account takeover (ATO)

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Fintech Digest: 90% Of Nigeria’s Startup Funding Came From Fintech

Nigeria’s startup funding reached approximately US$417.5 million in nine months, and a lion’s share of this came from fintech (Punch).

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These 3 Abu Dhabi Startup Investors Made Big Bets on Fintech

The year has seen a flurry of activity across the tech landscape in the Middle East, but especially so for

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National Bank of Kuwait Rolls Out Kuwait’s First Digital Bank Weyay

The National Bank of Kuwait has launched Weyay, Kuwait’s first fully digital bank for youth, according to a statement. The app

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How the ADGM Uses Regtech to Regulate Virtual Assets: Report

Technology has transformed the financial industry, and regulators need to buy in. That’s the message from the Abu Dhabi Global

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US-Israeli Supply Chain Fintech 8fig Closes US$50m Series A

US-Israeli supply chain fintech company 8fig has closed a US$50 million Series A round, the company said in a statement. 

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ADGM Licenses First Israeli Venture Capital Firm

Venture capital firm OurCrowd has become the first Israeli venture firm to have gained approval and licensing by the Abu

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Fintech Digest: Israel Has a New Cybersecurity Lab for Israeli Fintech Startups

In a tech solutions crossover last week, Enel X and Mastercard have launched a ‘FinSec Innovation Lab’ — a lab

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VentureSouq Announces US$50m MENA FinTech Fund I

GCC-based early stage venture capital firm VentureSouq has officially launched a US$50 million MENA FinTech Fund I. The MENA FinTech

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7 Middle East Crypto Exchanges That Support Local Currencies

Last month marked 13 years since Satoshi Nakamoto’s Bitcoin white paper was first released. In these 13 years, concerns around

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Crypto and BNPL Are Top Middle East Fintech Trends: Visa Report

Over 80% of consumers in the UAE and Saudi Arabia reported that they would be willing to use crypto and

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Saudi Insurtech Startup Rasan Fetches US$24m

Rasan, an insurtech startup based in Saudi Arabia, has secured SAR 90 million (US$24 million) in a growth stage deal,

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8 Israeli Fintech Unicorns to Keep an Eye On

Israeli fintech unicorns (those based in Israel as well as US-Israeli companies) have made a splash this year amidst soaring

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Payments Startup Nomod Raises US$3.4m Seed

Nomod, a UK-based payments fintech company with a focus on the MENA region, has raised US$3.4 million in seed funding.

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Fintech Digest: UAE, Singapore Pilot First-Of-Its-Kind Cross-Border Trade Finance Project

The Monetary Authority of Singapore (MAS) and Abu Dhabi’s Financial Services Regulatory Authority (FSRA) have completed a first-of-its-kind digital cross-border

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Top 8 Funded Fintech Startups in Egypt

Financial inclusion is on the developmental agenda in Egypt, and fintech startups in Egypt are one of the key driving

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Out of Jordan, an Autonomous Algorithmic Bot Emerges, With Bitcoin Squarely in Its AYM

We sat down with Mr. Ahmad Alsharqatli, CEO of AYM, to find out more about this revolutionary smart Bitcoin solution

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12 Fintech Startup Founders in the Middle East That Are Making Waves

There’s a lot of buzz doing the rounds for fintech startups in the Middle East, but not too much is

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Crypto Platform CoinMENA Picks Up US$9.5m Seed Funding

Bahrain-headquartered crypto trading platform CoinMENA has fetched US$9.5 million in seed funding, according to a statement. This is the first

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Sarwa Launches Zero Commission and Transfer Fee Trading Platform

Personal finance and investment platform Sarwa has officially launched Sarwa Trade. The platform allows users to trade stocks and Exchange

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Jumo Secures US$120m to Scale Its BaaS Platform

South Africa-headquartered AI-based banking-as-a-service platform Jumo announced in a statement that it has raised US$120 million from new and existing

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Pakistan’s Udhaar Book Secures US$6m for Digital Book-Keeping App

Pakistan-based MSME-focused cash flow management platform Udhaar Book has raised US$6 million in seed funding to digitise credit in retail

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The 5 Fastest Growing Fintech Companies in the UAE in 2021

Fintech companies in the UAE have bagged a number of wins this year, with local fintechs accelerating growth. Competition is

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Fintech Digest: Will Mobile Money Shake Up Nigeria’s Banking Industry?

MTN Nigeria and Airtel Africa had a substantial win in Nigeria last week, after the two mobile money players won

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ClearTax Rebrands, Raises US$75m for Middle East Expansion

India-based fintech SaaS company ClearTax has raised US$75 million in a Series C round, according to a statement from the

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Oman Jumps on Open Banking Bandwagon

The Central Bank of Oman (CBO) is drafting the so-called Open Banking API Strategy as part of a broader push

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