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UAE - The Rising Hub For Fintech Sector




Fintech companies have the ability to create a large underserved population with high technology use and a relatively young population (the average age of countries is 32). They can offer financial companies interested in developing their technology sector a variety of products and provide their customers with high-quality, fast and reliable services. The sector's greatest potential lies in markets where there is no one who knows best how to combine the two, and, particularly with regard to fintech, the UAE has a comparative advantage, being an emerging financial-services centre not only in the region but also in South and Southeast Asia.

The UAE is a leader in FinTech innovation and accounts for 24% of all FinTech companies in the region. Many of us agree that the United Arab Emirates is the leading fintech development in the MENA region and that Dubai is the engine, from open banking to blockchain banking to cybersecurity. Dubai, which is at the centre of its efforts to become a major trading and financial hub in MENA, is prioritizing becoming the leading FinTech hub in the coming years.


In recent years, the United Arab Emirates, where most of MENA's fintech startups are based, has accounted for 47% of financial technology transactions and 69% of total financing. The UAE has more than half of the FinTech companies in the regions of the Middle East and North Africa (MENA), making it the largest FinTech hub in the region. In 2020, the UAE Central Bank announced a new FinTech Office intending to position the UAE as the leading regional and global FinTech hub.


One of the most important aspects to remember is that a fintech company formation in Dubai must use innovation to design its products and services for financial firms in a way that they are willing to test and implement for customers. The financial market in Dubai, in terms of the technical requirements and needs of fintECH companies, has developed enormously in recent years in a continuous quest for high-quality services.
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