From the community

Bankable Opens Middle East & Africa Hub in Dubai

November 25, 2019 | FinTech
Bankable Opens Middle East & Africa Hub in Dubai

• Bankable and Visa announce strategic collaboration within the CEMEA region.
• Bankable opens an office at the Dubai International Financial Center.
• The office will serve 50+ markets in the Middle East & Africa region.

Dubai, United Arab Emirates – November 25th, 2019 – Bankable, the global provider of “Banking as a Service” solutions, and Visa today announced a strategic collaboration within the Central and Eastern Europe, Middle East and Africa (CEMEA) region. Bankable aims to work with Visa to accelerate the digital capabilities of financial institutions’, build and launch digital banks, reduce cash usage and increase Fintech sponsorship in CEMEA. To accommodate this collaboration, Bankable is opening an office at the Dubai International Financial Center (DIFC), which will be Bankable’s Middle Eastern hub.

Bankable’s presence in Dubai will allow the company to engage with the Dubai International Financial Centre, the leading financial centre of the Middle East, Africa and South Asia, comprised of more than 2.000 active registered firms. Bankable will complement and address the already strong fintech ecosystem in the region. The company will look to foster partnerships that enable faster time-to-market and relevant digital banking initiatives.

“Our decision to invest in Dubai is a natural extension for us. Bankable has served prestigious global clients headquartered in Dubai for the last three years. Following our global partnership in April 2019 with Visa, Bankable is committed to increase its alignment with Visa. Not only is Dubai home to global head offices and Visa’s CEMEA base, but some of our existing clients in Europe and North America are now looking to expand in the region. We will be able to support our clients directly and Visa’s CEMEA financial institutions members as well as provide European and US access to UAE based organisations.” said Eric Mouilleron, CEO and founder of Bankable. “Partnering hand in hand with the DIFC, Bankable has the ambition to design, federate and operate a fintech magnet supported by pre-approved regional bank sponsors to facilitate the onboarding of global scaleups and contribute to strengthen the DIFC ecosystem.”

Otto Williams, VP Head of Strategic Partnerships, Fintech & Ventures CEMEA at Visa, said, “Our recent ’Stay Secure’ survey revealed increased preference for digital payments among consumers in the UAE and other key markets in the region. That and the efforts of visionary governments to develop connected cities make it a very exciting time for Visa, as an enabler of the payments ecosystem, to be bringing in new players like Bankable. Our strategic partnership with Bankable represents a great opportunity to further accelerate digital payments innovation in the region, and we look forward to bringing this partnership to our fintechs and bank clients to deliver innovative consumer experiences.”

Salmaan Jaffery, Chief Business Development Officer, DIFC Authority said: “We are delighted to welcome Bankable to the DIFC. Bringing efficiency to the payments industry is a critical piece of DIFC’s FinTech strategy, which provides firms a critical platform for innovation amid the world’s largest remittance corridors.
Investment in FinTech in our region is twice the rate globally so we will continue to support the ‘Banking as a Service’ model pursued by Bankable.
Jaffery added: “Not only will Bankable enjoy being strategically located in the 8th ranked financial centre globally, but DIFC will also provide Bankable access to an international network of strategic partners and financial institutions, reinforcing the DIFC’s commitment to the Future of Finance.”

Press release HERE

More in FinTech

Greater Manchester top regional FinTech ecosystem
FinTech
April 02, 2020

Greater Manchester top regional FinTech ecosystem

Greater Manchester has been named as the largest FinTech ecosystem in England outside of London....

Sorodo partners with iwoca
FinTech
April 01, 2020

Sorodo partners with iwoca

Welsh FinTech Sorodo has integrated wih iwoca. In Brief:  Sorodo helps businesses f...

MatchMove acquires stake in Shopmatic
FinTech
April 01, 2020

MatchMove acquires stake in Shopmatic

Singaporean FinTech MatchMove has acquired a stake in ecommerce solutions company Shopmatic. In...

FinTech
January 30, 2020

2019 FinTech Investment Landscape

Innovate Finance’s FinTech Investment Landscape features data-driven insights on the global Fi...

FinTech
January 09, 2020

Latin America: Global Investors’ New FinTech Frontier

Insights from Leading Banks, Venture Capital and Private Equity Investors

FinTech
January 09, 2020

What will the future of banking look like?

Big tech, fintech and increased regulation are putting pressure on banking incumbents. How can they...

AltFi Australasia Summit 2020

AltFi Australasia Summit 2020

When: Apr 06th, 2020
Where: Doltone House, Sydney , GB
Price: £160
Catalyzing Women-Focused FinTech

Catalyzing Women-Focused FinTech

When: Apr 08th, 2020
Where: Webinar, London , UK
Price: FREE
Business Breakfast: Taking the fear out of fintech

Business Breakfast: Taking the fear out of fintech

When: Apr 29th, 2020
Where: Village Hotel Club, Aberdeen
Price: £36