As a local bank with regional and international operations, Emirates NBD's alliance with Hub71 enables an array of possibilities that include expanding market reach to Abu Dhabi and introducing innovative financial solutions that cater to evolving customer needs, strengthening the bank's commitment to driving industry-wide advancements.
Officials from Emirates NBD said that as a local bank committed to driving innovation in the region, Emirates NBD innovates banking to enhance financial prosperity for its customers, people, and communities. This collaboration marks a significant step towards elevating customer experiences as Emirates NBD Bank harnesses the entrepreneurial spirit of Hub71 to offer tailored solutions and streamlined services for their valued customers.
Hub71 has onboarded more than 260 startups, which have collectively raised nearly USD 1.36 billion since its inception in 2019. The global tech ecosystem provides promising startups with incentives, programmes, and access to a vibrant community with a network of more than 140 local and regional corporate, government, and investment partners to support their development and growth from Abu Dhabi to international markets. The UAE fintech market has reached a record-high investment of USD 2.5 billion in 2022, as per the press release.
Also commenting on this partnership, representatives from HUB71 said that they champion the growth of innovative startups scaling technology applications that can transform the future of finance and other sectors. Their partnership with Emirates NBD will pave the way for startups to validate products, secure commercial deals, and receive expert mentorship. By partnering with a UAE-based progressive bank, they are creating a powerful combination for fintech startups pursuing growth.
The UAE is promising market in the global fintech landscape, exhibiting growth potential, following significant innovation in digital banking, wealth management, remittances, and payments.
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