FinTech Abu Dhabi (“FinTech AD”), MENA’s leading FinTech festival, is pleased to welcome the UAE Banks Federation (“UBF”) as the Strategic Industry Partner of the Festival.
FinTech AD is organised by Abu Dhabi Global Market (“ADGM”) - the award-winning international financial centre in Abu Dhabi and powered by Unbound - a global innovation platform.
UBF is the leading industry association for the burgeoning UAE banking sector, representing 52-member banks. Its primary aim is to make the UAE banking sector grow in a sustainable way that benefits, protects and enhances the interests of banks, consumers, society and the economy of the UAE.
FinTech AD aims to bring together 5,000 influencers and innovators who are pioneering the new wave of innovation across financial services. Through the partnership with UBF, FinTech AD serves to provide a platform for UBF members to accelerate and showcase their digital transformation agenda and initiatives.
In particular, as part of FinTech AD, ADGM is hosting the much-anticipated Innovation Challenge where emerging and scaling startups seek to solve “problem statements” which represent actual challenges that financial institutions, corporates and consumers currently face in the United Arab Emirates (UAE) and the wider Middle East, Africa & South Asia (MEASA) region. The applicants and their innovative solutions will be of direct benefits and advantage to members of the UBF.
H.E. AbdulAziz Al Ghurair, chairman of UAE Banks Federation, said: “We are delighted to strategically partner with ADGM to facilitate the exchange of knowledge and elevate the standards of the banking and financial services industry. UBF is an advocator of banking sector’s digital transformation for the benefit of the wider country, and we firmly believe that technological disruption underpinned by world-class platforms like FinTech Abu Dhabi will drive the UAE and the wider region through growth periods.”
Mr Richard Teng, chief executive officer of ADGM, said: “We welcome this strategic industry partnership with UAE Banks Federation. FinTech Abu Dhabi will be attracting an impressive calibre of innovative entrepreneurs and FinTech companies from around the world, and we expect this strategic partnership to have a very positive impact in positioning the UAE at the forefront of banking and FinTech innovation.”