Archive
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 service provider (PSP) Telr for US$15 million. The strategic investment will enable Cashfree to launch its offerings across the MENA
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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 period of dramatic economic growth and unlocking endless opportunities for innovation. Traditional finance and the virtual asset economy have become
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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 new report by Arthur D. Little and M2P analysed responses from about 2,000 UAE retail bank customers to determine how
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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) fraud is one of the top causes of fraud losses for banks and financial institutions. An account takeover occurs when
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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). The funding total already beats the US$300 million these companies raised last year (fintech companies dominated Nigeria’s startup funding in
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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 fintech. Startup investors, both private and government-backed, have flocked to this sector in the UAE, just like they have across
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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 is currently in beta testing and has been launched at the pre-registration stage. It will be opened on an invite-basis
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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 Market’s (ADGM) latest report on regtech in the emirate. The report, titled “Powering the Future of Regulation,” noted that the
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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. The round was raised from returning investors Battery Ventures and LocalGlobe, as well as serial entrepreneur and co-founder of Nested
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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 Dhabi Global Market (ADGM) in the UAE, according to a statement. The firm has incorporated its wholly owned subsidiary OurCrowd
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