NEC Payments B.S.C (c) (NECP), a Bahrain-based fintech, today announced its participation in the venture acceleration program in Silicon FinTech Bay (SFB) operated by FinTech Consortium (FTC).
The move signifies expansion for both NEC Payments, who will work with the SFB team to localize and develop its products for the US market, and for FinTech Consortium, who continues to make its mark on the global fintech ecosystem.
NEC Payments was founded in 2014 in Bahrain and operates across the Europe, Middle East and Africa region. The digital banking and payment technology company provides Software-as-a-Service and Banking-as-a-Service solutions that help banks transform and enable other fintech players to build and operate innovative and disruptive digital financial services products for businesses and consumers. Residency at Silicon FinTech Bay is a step forward in US expansion and builds on its status as a founding partner of Bahrain FinTech Bay.
“This opportunity was a must for us,” said Andrew Sims, Co-Founder and CEO of NEC Payments. “We’ve been identifying opportunities in the US markets for some time and feel now is the right time to land and expand our business. We’re grateful to have a solid partnership with FinTech Consortium and are delighted to be joining Silicon FinTech Bay, whose international venture accelerator program will help us tremendously as we launch in the States.”
FinTech Consortium operates Bays focused on accelerating fintech startups, encouraging thoughtful conversations around regulations, and fostering public-private partnerships in Asia, the Middle East, and in Silicon Valley and Detroit. Its acceleration programs have worked with hundreds of startups in the last three years, globally. Additional expansions are underway.
“NEC Payments is an ideal resident at Silicon FinTech Bay,” said Rick Frisbie, CEO at Silicon FinTech Bay. “Not only are they a bright, innovative company, but their technology is already making an impact around the world. We’re honored to be hosting and mentoring them, as they establish themselves and grow in the US.”