Dubai: Sit on your couch, and pay off your bills, save some money, invest those savings, do some interest-free installment shopping, and while you’re at it, don’t forget to pay your friend back for that lunch. The coronavirus pandemic economically crippled many individuals and businesses, but it also gave rise to a number of companies who offered people in the UAE exactly what they needed in that hour – easier, contactless, budget-friendly ways to handle and spend money, right from home.
Financial services integrated with the latest technology for automation, or FinTech, has been around for some time – if one considers everything starting from the world s first ATM in 1967. However, the coined term itself became very popular in only the last couple of decades, with the internet, the smartphone age, and everything that came after that.
Dubai Fintech Hub Partners With Israel
Advertisement
The normalization of relations between the UAE and Israel paved the way for billions of dollars of bilateral business opportunities.
January 07, 2021
In late November, Dubai-based DIFC FinTech Hive the biggest financial-innovation hub in the Middle East signed a milestone agreement with Israel’s Fintech-Aviv. Both entities will work hand-in-hand to facilitate the cross-border exchange of knowledge and business between Israel and the United Arab Emirates.
“Like Dubai, Israel is well-regarded for its approach to innovation and for embracing fintech, so it is important to collaborate now to share knowledge and develop the sector further,” said Raja Al Mazrouei, executive vice president of DIFC FinTech Hive, in a press statement.