Tag "Middle East"

Open Banking Makes Foray Into the Middle East

Globally, initiatives across different jurisdictions have emerged to make open banking a reality, ranging from direct regulatory requirements, like what’s been done in the UK and the European Union (EU), to market-coordination and industry-led initiatives such as in the US

Read More

Middle East Sees Booming Fintech Ecosystem Though Challenges Remain

Though still in early stage, the Middle East’s fintech sector is rapidly growing, fueled by a young demographic eager to adopt new digital solutions, low penetration of formal banking channels, and the region’s governments push for fintech adoption, says a

Read More

Middle Eastern Banks Slow in Embracing Fintech Despite Customers Keenness

In the Middle East, despite customers’ willingness to adopt innovative fintech solutions, banks are still reluctant in integrating fintechs into their strategy, with most choosing to follow a “wait and see” approach, according to a new report by Deloitte. In

Read More

Regtech Still Nascent in the Middle East

Regtech is still a nascent niche segment within the Middle East’s fintech industry, though governments across the region are pushing for greater use of technology to enhance regulatory processes. The United Arab Emirates (UAE), the region’s leader in all-things fintech,

Read More

Africa and the Middle East, the Next Battleground for E-Commerce Companies

E-commerce in Africa and the Middle East is poised for growth. Thanks to a combination of fast-growing developing markets, highly affluent, connected, yet underserved mature markets, and growing Internet and smartphone penetration, according to PPRO Financial’s Payments & E-commerce Report

Read More

Upcoming Fintech and Digital Finance Events in MENA

Fintech is booming in the Middle East and North Africa (MENA) as regulators and government agencies in countries including the United Arab Emirates (UAE), Bahrain and Saudi Arabia are pushing for innovation in the financial services industry to improve financial

Read More

Dissecting Fintech Opportunities in Middle East and Africa

Dubai’s special economic zone, the Dubai International Financial Centre (DIFC), has released a new report that explores the opportunities related to fintech in the Middle East and African (MEA) region. The report provides recommendations and guidance for fintech firms looking

Read More

Google Report: E-Commerce in Middle East Set For Strong Growth

E-commerce is set for strong growth in the Middle East and North Africa (MENA) region. The market was worth US$8.3 billion in 2017 and is expected to more than triple by 2022 to reach US$28.5 billion, according to a new

Read More

UAE Leads the Digital Banking Scene in Middle East

A combination of changing consumer preferences, competition from fintech startups and changing regulations have been forcing banks around the world to develop their digital capabilities. In the Middle East and North Africa (MENA) region, banks are quickly rising to the

Read More

Apple Pay Targets Middle East Markets Starting with Saudi Arabia

Apple continues the rollout of its Apple Pay digital wallet service around the world, launching in Saudi Arabia in February, marking its 34th market. In Saudi Arabia, Apple Pay initially launched with support for the Saudi Payments Network (MADA), Alinma

Read More