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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 conditional approval from the Central Bank of Nigeria to offer mobile banking services. MTN Nigeria and Airtel Africa still have

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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 to stimulate innovation in the finance sector. The intentions were outlined in the 2021 Arab Region Fintech Guide, a paper

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Fintech News Digest: What’s Behind Saudi Arabia’s Fintech Boom?

Saudi Arabia’s fintech ecosystem is thriving to say the least. In last week’s fintech news, a new report pointed out that Saudi fintech companies raised a total of US$157.2 million between January and August this year. That’s a whole bunch

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Report: Payments Dominates Saudi Fintech Map 2021

Payments emerged as the most popular area for investment in Saudi fintech companies, according to a new report by Fintech Saudi. The Fintech Saudi Annual Report 2020/21 noted that payments clinched 93% of venture capital investments in 2021 so far.

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The 5 Digital Banks in Saudi Arabia You Need to Know

Digital banking in Saudi Arabia is at a particularly interesting junction right now. Much has been said about how the country is at the precipice of a banking revolution, but the results have perhaps been slow to show. There’s a

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5 Trends Driving Open Banking in the Middle East 2021

Open banking in the Middle East has become one of the latest buzzwords to come out of the region’s accelerated fintech agenda. Many countries in the region already had a sturdy traditional banking ecosystem. Now, with a growing incentive to

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Finleap and Batelco Partner to Boost Open Banking in the MENA Region

European fintech ecosystem builder finleap entered into a strategic partnership with Bahraini telecoms company Batelco, according to an announcement earlier this week. The partnership is aimed at promoting open banking in the MENA region. Batelco recently became the first GCC-based

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Gen Z, Millennials Drive Saudi Fintech Adoption

Cash usage is declining amongst growing Saudi fintech adoption, according to the findings of Fintech Saudi’s National Fintech Adoption Survey. Fintech Saudi announced the results of the National Fintech Adoption Survey, which it conducted in early 2021. The survey assesses

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9 Startups Lead Saudi Fintech Startup Funding in H1 2021

The first half of 2021 has been eventful for Saudi fintech startup funding. H1 saw deal sizes ranging from as little as US$670,000 to a hefty US$110 million. Moreover, ranking second by funding in the MENA region, VC funding increased

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Open Banking Forum

Regional regulators such as UAE Central Bank, Saudi Arabian Monetary Authority, Central Bank of Oman and Central Bank of Bahrain are devoting diligent efforts to open banking initiatives and services through further collaboration with the market. In line with this

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