intella, a deep-tech company specialising in Arabic-first speech intelligence, has entered into a partnership with Visa to advance conversational AI for financial institutions in the Middle East and North Africa. The collaboration aims to develop solutions tailored to the region’s linguistic diversity, covering more than 25 Arabic dialects. The initiative seeks to address what the companies describe as an “Intelligence Gap” in existing AI systems. This gap is linked to two issues: the difficulty of accurately interpreting Arabic dialects and the common reliance on reviewing only a limited sample of customer calls. intella’s technology has been designed specifically for the…

Habib Al Mulla and Partners, a law firm based in the UAE, has signed a MoU with Emirates NBD. The agreement forms part of Project 54, an initiative led by the firm to support Emirati entrepreneurs. Dr Habib Al Mulla, Founder of Habib Al Mulla and Partners, said: “As part of our mission to empower Emirati entrepreneurs, Project 54 reflects our commitment to building sustainable enterprises. With the support of Emirates NBD, we are creating a stronger foundation for entrepreneurship that will contribute to the UAE’s long-term economic growth.” Marwan Hadi, Group Head of Retail Banking and Wealth Management at…

Revolut has announced plans to apply for a banking license in South Africa. The company will work closely with the South African Reserve Bank (SARB) throughout the process. The announcement was made at the opening of Revolut’s new global headquarters in London, where it also confirmed its global customer base has surpassed 65 million, with a target of reaching 100 million by mid-2027. South Africa is described by the company as a key growth market, supported by its diversified economy, rising digital adoption, and demand for new financial services. Securing a commercial banking licence would enable Revolut to provide a…

Mastercard has signed a MoU with the Central Bank of Syria to collaborate on the development of a national payments ecosystem in the country. The agreement marks a step towards exploring ways to advance Syria’s digital payments capabilities. The partnership will examine opportunities to expand access to essential financial services for the population and reflects a shared objective of promoting inclusion, resilience, and opportunity through technology. The collaboration is expected to explore integration opportunities among Syrian banks and other financial institutions, in line with international best practices. It will also facilitate knowledge transfer through on-site training and technical exchanges to…

Presight, a global AI and big data analytics company, and Shorooq, an Abu Dhabi-headquartered investment firm regulated by the FSRA as a Fund Manager, have announced the launch of a global AI innovation fund, Presight-Shorooq Fund I, which aims to invest US$100 million in emerging AI technologies. The fund has been established through collaboration between principal investors and technology specialists and will deploy capital into AI ventures worldwide. Its establishment in the Abu Dhabi Global Market reflects the UAE’s role in the global AI ecosystem, not only as a source of funding for AI innovation but also as a hub…

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a strategic collaboration with QNB Group and DMZ Finance. The partnership introduces QCDT, a tokenised money market fund (MMF) approved by the Dubai Financial Services Authority (DFSA), onto Bybit’s platform as a collateral asset, representing a step towards integrating traditional finance with digital assets. Bybit is the first global crypto exchange to accept QCDT as collateral, marking a new approach to incorporating Real World Assets (RWAs) into digital finance. QCDT is managed by Qatar National Bank, utilises DMZ Finance’s tokenisation technology, and is custodied with support from Standard Chartered…

Amazon Payment Services, a regional provider of digital payment solutions operating in nine countries, has appointed Pablo Londono as its new Managing Director. The company supports more than 3,500 businesses with payment products and also provides optimised payment solutions for Amazon customers. The appointment comes as Amazon Payment Services continues its work to develop payments infrastructure and support businesses with secure processing, system integration, fraud protection, and data analytics. In his role, Londono will oversee the company’s expansion and innovation initiatives in digital payments. Londono has over 15 years of experience at Amazon, most recently as Regional Finance Director for…

TerraPay, a global money movement company, has announced a strategic partnership with D360 Bank, a Saudi Sharia-compliant digital bank, to facilitate inbound money transfers into the Kingdom of Saudi Arabia. The partnership allows Saudi Arabia to support inbound flows across multiple use cases, including person-to-person, consumer-to-business, business-to-consumer, and business-to-business transactions. Payouts can be made to both bank accounts and mobile wallets, with capacity for high volumes and a single integration. The new corridor, built on TerraPay’s direct bank connectivity, extends the company’s receive network to 152 countries. The arrangement creates a compliant, high-throughput inbound rail into Saudi Arabia that supports…

erad, a Riyadh-headquartered alternative financing platform for SMEs, has raised US$33 million in debt financing to support its operations in Saudi Arabia and the wider GCC. The company previous raised US$16 million to support its growth and expansion within Saudi Arabia and other regions. The round was led by Stride Ventures, which recently expanded its team in the region and closed the first tranche of its ADGM Fund V, alongside participation from other investors. The funding will be used to expand erad’s presence in Saudi Arabia and the UAE, scale its operations, and meet growing demand from SMEs across sectors…

Saudi National Bank (SNB) has announced plans to launch a Point-of-Sale (POS) lending solution for SMEs. The solution will be powered by Tarabut, a regulated financial technology platform in the MENA region, and delivered through Geidea, a payment solutions provider in Saudi Arabia. The initiative is subject to all required approvals from the Saudi Central Bank (SAMA). The collaboration between SNB, Tarabut, and Geidea aligns with Vision 2030 and the Financial Sector Development Program by providing SMEs with faster and more accessible working capital. Saud Abdulaziz Bajbair, Retail Business Group Head at SNB, said: “As the Kingdom’s national bank, SNB…

Telr, an online payment gateway, has announced a strategic partnership with Kema, a UAE-based fintech platform providing a SaaS solution that helps B2B SMEs optimise and automate cash flow processes across the region. The collaboration integrates Telr’s payment services with Kema’s platform, allowing merchants to manage payments and cash flow more efficiently. Through the partnership, Kema’s merchants gain access to Telr’s suite of local and international payment options, supporting transactions in over 120 currencies and 30 languages. With Telr’s UAE Central Bank Retail Payment Services License (RPS), businesses also benefit from regulatory compliance. Kema’s platform enables users to generate invoices,…

Kamel Pay, a fintech company based in Dubai, has received In-Principle Approval from the Central Bank of the UAE (CBUAE) for the country’s highest-level Stored Value Facilities (SVF) and Retail Payment Services (RPS) licenses. The approval will enable the company to provide payroll and business payment services across the UAE. The licenses will allow Kamel Pay to deliver a full business payment solution, giving employers the ability to manage salaries, supplier payments, and other expenses with greater compliance and efficiency. Employees will also gain access to timely salary payments and a range of financial services designed to support day-to-day money…

Najm for Insurance Services has signed a cooperation agreement with Elm Company during the Money20/20 Middle East conference. The agreement establishes a legal framework for collaboration between the two companies in data exchange and technological services, with the aim of improving the quality of services available to beneficiaries. Under the agreement, both organisations will work together on data processing, sharing, transfer and exchange, and will cooperate on the development and protection of digital systems. The arrangement also provides for regular consultations to identify ways to improve project implementation, establish effective procedures, and strengthen collaboration in areas of shared interest. Commenting…

Money20/20 Middle East in Riyadh drew more than 38,500 participants, making it the largest fintech event in the region and the second largest globally. The gathering brought together global leaders in fintech, banking, investment, and digital innovation. This year’s edition hosted over 450 international fintech brands and more than 1,050 investors. Global brand participation rose by 207% compared with last year’s 24Fintech, while investor attendance tripled, signalling growing international interest in Saudi Arabia’s fintech sector. The event also enabled 2,288 pre-scheduled meetings between investors and startups, alongside multiple partnership announcements. Saudi Arabia now has more than 280 active fintech firms…

Bwatech, a Saudi fintech firm focused on corporate financial solutions, has secured US$16 million (SAR 60 million) in a funding round led by Sharaka Financial. The investment will support the company’s expansion in the Saudi market and strengthen its role in providing financial technologies for corporate and banking operations. Bwatech’s platform allows businesses to manage financial activities across multiple banks, offering services such as digital bank guarantees, account management, and open banking. Its solutions are accessible through a web portal and mobile application, with API integrations enabling direct connectivity with corporate internal systems. The company operates under the Saudi Central…

Meedaf, the financial services platform based in ADGM, has entered into a strategic partnership with InDebted, a Australian-based provider of AI-driven debt collection solutions. As part of the agreement, Meedaf will invest in InDebted’s UAE entity to support the company’s regional expansion. The partnership combines Meedaf’s regional expertise and networks with InDebted’s technology-led approach to debt resolution. The collaboration aims to strengthen operations in the UAE, with plans to establish a hub in the country and extend services to banking, financial services, government, and telecommunications sectors. Abdulla Abdul Aziz AlShamsi, Managing Director and Chief Executive Officer of Meedaf, said: “Our…

The fintech market in the Middle East and North Africa (MENA) has expanded at a rapid pace. O ver the last few years, the number of fintech companies has risen to more than 1,000, three unicorns have emerged, with many more being in the pipeline as capital continue to flow into the market. Between 2020 and 2023, fintech funding in MENA jumped by an impressive 650% increase, emerging as the region’s top investment area. In 2023 and 2024 alone, fintech funding in MENA totaled nearly US$2 billion, according to Magnitt, a venture capital (VC) data platform specializing in the region.…

Citi has announced the deployment of its advanced AI tools across its operations in the UAE and the wider Middle East and Africa (MEA), reflecting the bank’s ongoing focus on innovation and digital transformation. “The launch of our AI tools in the UAE and in MEA is a testament to Citi’s unwavering commitment to embracing cutting-edge technology to better serve our clients and empower our employees,” said Maria Ivanova, UAE and North Africa & Levant Sub-Cluster and Banking Head. “These advancements will not only boost our overall productivity but also foster a new era of innovation and client-centric solutions across…

barq, a digital payments provider in Saudi Arabia, has partnered with iPiD, a global provider of Know Your Payee (KYP) solutions, to integrate iPiD Validate, a payee verification tool designed to reduce fraud and ensure payments reach the correct recipients. The partnership supports the development of secure digital payments in the Kingdom and aligns with Saudi Arabia’s wider strategy to strengthen financial innovation and cross-border commerce. iPiD Validate allows barq to verify payee names and account information in real time, reducing the risk of fraud, lowering the rate of failed transactions, and increasing customer confidence. “Saudi Arabia is moving at…

Valu has introduced its digital onboarding feature on noon, the MENA’s largest digital marketplace. This marks the first licensed Buy-Now, Pay-Later (BNPL) transaction in Egypt carried out via digital onboarding under the fintech license issued by the Financial Regulatory Authority (FRA). The feature allows users to access Valu’s range of financial and lifestyle services instantly, without the need to visit a branch or immediately download the app. It represents the first application of Valu’s FRA-regulated BNPL service in Egypt, intended to support financial innovation and digital transformation. Non-Valu customers shopping on noon can use Valu at checkout. First-time users complete…