Middle EastRSS

Dubai gets first fintech accelerator

Dubai International Financial Centre

FinTech Hive, to be housed at the Dubai International Financial Centre (DIFC) in Dubai’s Central Business District (CBD), is set to launch this quarter. Accenture runs fintech innovation labs in New York, London, and Hong Kong; and has been tasked with setting up and operating the accelerator. Aimed at providing better financial services technology to […]

New digital bank coming to Middle East, Bank Clearly

Think Clearly, Bank Clearly

Bank Clearly, a new digital banking service, is being set up in the UAE. Clearly will offer account opening “in seconds, completely online”.

Emirates Islamic Bank live with new core banking system

Emirates Islamic Bank migrates to new core banking platform

Emirates Islamic Bank, a Shari’ah-compliant banking subsidiary of Emirates NBD, has migrated to a new core banking platform, Infosys’ Finacle.

Commercial Bank of Dubai to launch digital-only bank

Commercial Bank of Dubai

Commercial Bank of Dubai (CBD), will launch ‘CBD NOW’ next year, which it claims to be the nation’s “first” digital-only bank targeting millennials and “digitally connected” customers. However, two other banks in the region have also said the same thing. As Banking Technology reported in June, Emirates NBD is planning to launch the UAE’s “first” […]

Wolters Kluwer wins system selection at Bank of Jordan

Wolters Kluwer gains new client for OneSumX

Risk management software vendor Wolters Kluwer says its OneSumX system won Bank of Jordan’s tender. OneSumX will support the bank’s liquidity risk and asset and liability management (ALM) operations.

Abu Dhabi launches fintech regulation lab

Abu Dhabi

Abu Dhabi Global Market (ADGM) has launched its Regulatory Laboratory (RegLab) as it looks to boost innovation in the region. As Banking Technology reported in August, the Financial Services Regulatory Authority (FSRA) of ADGM was looking for public feedback and comments for its proposed RegLab. Richard Teng, chief executive officer, FSRA of ADGM, says it […]

ISC invites bids for Iranian card management system implementation


Tehran-based Informatics Services Corporation (ISC) is inviting bids for the installation and implementation of an international card payment switch in Iran. ISC says it is considering the procurement of a national merchant management system, card management system, ACS (access control server) and FRM (fraud / risk management) to manage international card payments’ usage within Iran’s […]

Standard Chartered customers taken for an Uber ride


This time we have a genuine Uber moment in fintech. Standard Chartered and Uber are partnering to offer the bank’s credit cardholders cashbacks on Uber rides. This is the “first ever multi-market partnership” for both of them. The deal is for six markets – Singapore, Indonesia, Malaysia, Vietnam, India and the United Arab Emirates – […]

Fidor and Abu Dhabi Islamic Bank unveil digital bank


Abu Dhabi Islamic Bank (ADIB) has partnered with Fidor Bank to launch the region’s first “community-based digital bank”. Specifics are very thin on the ground as the bank will have “new services, features and [an] online community”, which will be available for existing and new customers to sign up to in the upcoming months. Can’t […]

Ideal Payments launches first mobile app in Iraq


Ideal Payments has teamed with Taif Money Transfer to launch Iraq’s “first” mobile payments app – Taif eWallet. The platform aims to create a “holistic payments ecosystem” used by multiple agents in the economy including retail merchants, ecommerce platforms, private companies, and government institutions. Ideal Payments’ local partner, Taif Money Transfer, will operate the service, […]