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Based in the United Arab Emirates UAE Islamic Launched a new fintech accelerator event in partnership with Plug and Play Abu Dhabi.
The Emirates Islamic and Plug and Play events aim to bring together leading Islamic fintechs and finance startups by delivering an enhanced customer journey across SME financing, trade finance and financial wellbeing.
The fintech accelerator event will enable the bank to offer differentiated products with the support and co-creation of solutions with leading fintech companies operating in the Islamic fintech space.
UAE Islamic Aims to extend its Islamic Fintech collaboration to a wider range of fintech accelerators from around the world by plugging and playing Abu Dhabi’s existing global network.
Ultimately, the new activities are designed to serve Emirates Islamic priority areas. To achieve this, Plug and Play Abu Dhabi will screen global start-ups to find the best fit for the group’s business needs.
Islamic priorities in the UAE
Areas identified as priority areas by UAE Islamic include:
- Simplify banking processes for small businesses. This provides affordable solutions and real-time financials; while optimizing back-office operational efficiency.
- Digitizing the trade finance process. This improves the customer journey, shortens turnaround time, minimizes operational costs, and creates a more secure platform.
- Personalize your finances with insights and portfolios. This helps clients manage their money more meaningfully.
The move also expands Plug and Play Abu Dhabi’s existing partnership with the Emirates Banking Group. Emirates NBD Partner with the platform in 2022 to expand its open innovation ecosystem globally.
Creating a more inclusive financial landscape for the UAE
Miguel RioGroup Chief Information Officer Emirates NBDsaid: “We are delighted to once again be partnering with Plug and Play Abu Dhabi, a leading global innovation company. As Emirates Islamic continues to drive innovation in Islamic banking, it now has the opportunity to be part of a pioneering initiative to further explore fintech Capabilities and attract the best start-ups from around the world.
“Open collaboration allows us to implement unique collaborative solutions for our most critical business needs, while improving the experience of our financial products and services.”
Amidi saysPlug and Play Tech Center CEO and Founder also commented: “We are delighted to partner with UAE Islamic Supporting the UAE’s mission to drive innovation and deliver cutting-edge fintech solutions.
“Through this partnership, we hope to drive the development of new ideas and technologies to help simplify banking processes for SMEs, digitize trade finance processes, and personalize financial well-being. Together, we will serve the people of the UAE and Emirates Islamic customers to create a more inclusive and secure financial environment.”
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