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” […]

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 […]

Islamic Finance House in Temenos T24 core banking system upgrade

Image source: IFH

UAE-based Islamic Finance House (IFH) has upgraded its core banking system to Temenos’ T24 R14 platform. IFH has been using T24 since its inception in 2004, and says the latest enhancement “has given way to resource optimisation, scalability management and shortened approval processes”.

Emirates NBD unveils innovation lab


Emirates NBD has established its Future Lab, part of its digital strategy to speed up the development of digital and mobile banking services in the UAE. The bank says the lab is the “first of its kind in the UAE banking sector”, and will act as a “strategic think tank” in addition to being a […]

SAB lands first core banking software deal in UAE, with Reem Finance

Core banking system SAB AT gains first tier in the UAE

UAE-based Reem Finance has overhauled its core software with French vendor SAB and its flagship core banking system, SAB AT. This is the first taker of the system in the UAE, to Banking Technology’s knowledge. Banking Technology understands that on the way out is the Ethix system from regional vendor International Turnkey Systems (ITS). It […]

CustomerXPs releases real-time intraday liquidity monitoring solution for UAE banks

UAE Banks

Banking analytics vendor CustomerXPs has unveiled its new Clari5 Intraday Liquidity Monitoring Solution. This “real-time, packaged and ready-to-deploy” solution aims to help banks in the UAE to comply with BCBS 248 requirements for intraday liquidity risk management, says CustomerXPs. The deadline for compliance with the BCBS 248 regulations is January 2017. CustomerXPs’ offering promises data […]

Al Hilal Bank’s new CIO looks to collaborate with fintechs

Al Hilal Bank looks to partner with fintechs

UAE-based Al Hilal Bank has got a new CIO, Gopi Krishnan. He is calling on fintech CEOs to get in touch “to explore ways to collaborate”. Krishnan moves from another regional bank, Qatar Islamic Bank (QIB), where he was CIO since 2012. Prior to that, he was with BankMuscat International as programme director in charge […]