News

Central Bank of the UAE (CBUAE) launching a digital transformation programme

The Programme comprises nine (9) key initiatives to enable the UAE’s competitiveness to become the financial and digital payment hub and a centre of excellence for innovation and digital transformation.

Investment

UK-based Zopa raises £75 million

Zopa announced have raised £75 million ($93m) to drive their next phase of growth, with vision to become Britain’s best bank.

Cryptocurrency

Crypto exchange Kraken shuts Abu Dhabi office

Kraken had said last year it would reduce its workforce by 30%, or about 1,100 employees, as rising rates and worries of an economic downturn soured the sentiment on crypto.

Big Banks

HSBC embarks on Saudi Arabia hiring spree amid deals boom

The lender aims to increase headcount in its global banking and markets business in Saudi Arabia by 10-15% this year

Blockchain

Dubai ranked 2nd most crypto-ready city in the world

Released by Recap, the study placed London as the leading crypto hub in the world, thanks to its strong financial infrastructure and thriving start-up ecosystem.

Digital Banking

Revolut announces Ultra, a new top-tier membership

Ultra is Revolut’s new exclusive top-tier membership, above the current plans of Plus, Premium and Metal

Investment

Dubai Investments acquires stake in Monument Bank, UK-based digital bank

Monument Bank is focused on the overlooked ‘mass affluent’ segment in the UK.

Digital Banking

Nubank secures $150 million loan from IFC to expand access to financial services in Colombia

Nubank secures loan of up to USD$150 million from IFC to strengthen its operation and expand access to financial services in Colombia.

Payment

Visa and PopID form partnership to launch facial verification payments in the Middle East

Plans for roll-out in the MENA and CEE regions are underway through a joint venture with global investment conglomerate Dubai Holding.

Investment

J.P. Morgan to acquire a stake in Greek fintech Viva

Strategic investment sets the stage for expanded future omnichannel merchant acquiring capabilities for European SMBs, value-added services and payments innovation.

Payment

Apple to let iPhones to accept NFC payments with tap-to-pay

Square and POS machines are in big trouble?

Payment

Saudi Arabia achieves highest adoption of contactless payments

SAMA announced the Kingdom of Saudi Arabia witnessed the highest adoption of contactless payments through Near-Field Communication (NFC) with 94%, the highest in the Middle East and North Africa, above of the European Union average, and ahead of Hong Kong and Canada.