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UAE NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has partnered with Dubai International Financial Centre to launch a global accelerator program for Metaverse startups to enhance customer experience in the new virtual economy (DIFC) Fintech Hive, Middle East , Africa and South Asia (MEASA) region’s largest financial technology hub, powered by technology provider Microsoft.
The accelerator programme marks the first play of UAE NBD in the metaverse, positioning the bank as a leader in the next phase of banking innovation, in line with the Dubai Metaverse Strategy, which aims to place Dubai in the top ten metaverse economies in the world It supports over 40,000 virtual jobs by 2030 and adds $4 billion to Dubai’s economy over five years.
With 94% of financial transactions and requests taking place outside the branch, the bank is exploring new technologies in a web 3.0 world to expand its digital footprint and create immersive experiences for our customers.
Emirates NBD is looking for leading fintech companies, digital experience start-ups and emerging technology players operating in Metaverse to enhance its virtual world immersion in three key areas: building technology stacks to facilitate the transition to 3D Transform, create virtual worlds to enhance customer experience in virtual worlds and provide a decentralized payment infrastructure for customers to create, monetize, buy and sell digital assets and services.
During the ten-week acceleration programme, DIFC Fintech Hive will assess UAE NBDs and match them with leading start-ups with unique propositions in the value creation, experience and technology stack required by Metaverse. This will culminate in a demo day at GITEX, where shortlisted participants will showcase their solutions for the opportunity to co-create engaging experiences for our customers in the new reality.
Attract innovators
Marwan Hadi, Executive Vice President and Head of Retail Banking, Emirates NBD, said: “Attracting innovative start-ups is critical to Dubai’s ambitions to become an international leader in a virtual world. As a leader in banking in the region, Emirates NBD has been A leader in digital innovation, looking to experiment and collaborate with tech startups that can help us accelerate our transformation process and develop solutions that optimize the customer experience. As we enter Metaverse, we seek to reimagine financial services using extended reality, and in Creating compelling new propositions for our clients in the new metaverse economy.”
Miguel Rio Tinto, Emirates NBD Group Chief Information Officer, said: “As a bank that has been at the forefront of adopting emerging technologies, we see a unique area of opportunity to reimagine financial services, including virtualizing interactions with customers and providing financial services to creators. Enabling the economy by enabling new products and markets. With the support of DIFC FinTech Hive and Microsoft, Emirates NBD looks forward to being the launch platform for Metaverse’s innovative financial services, working with innovative start-ups from around the world to create new experiences for our customers play a positive role.”
Raja Al Mazrouei, Executive Vice President, FinTech Hive, DIFC, said: “We are delighted to partner with Emirates NBD to launch a global accelerator programme for Metaverse start-ups that are growing rapidly and witnessing growing interest from around the world. This step Reaffirming our commitment to supporting Dubai’s ambition to become one of the top ten virtual economies in the world. At DIFC FinTech Hive, we will continue to embrace the latest technologies to keep pace with the rising momentum in the global digital landscape.”
Naim Yazbeck, General Manager, Microsoft UAE, said: “In the virtual world, the physical and digital worlds come together to create a whole new layer of platforms, and we have an exciting opportunity to create transformative solutions that revolutionize the consumer journey and experience” : “Innovative tech startups play a vital role in reimagining, bringing creative, unique perspectives to design in a whole new world. We recognize startups when they have the next generation of technology to bring their ideas to life The impact that can be made, and we look forward to working with these innovators and helping them realize this potential over the course of their projects.” – arab trade news agency
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