Recognizing the importance of collaboration, visionaries from leading banks in the UAE partnered with e& (formerly Etisalat Group) to establish UAE Trade Connect in 2021, now known as haifin. This initiative aimed to combat trade finance fraud by leveraging innovative technologies namely blockchain, artificial intelligence and machine learning and enhance transparency, security, and efficiency in trade finance processes, helping banks to mitigate the risk of fraud in real time. The platform currently serves 15 banks and 4 fintech’s in the UAE.