United Arab Emirates-based Emirates Islamic has launched a new fintech accelerator campaign in collaboration with Plug and Play Abu Dhabi.
The Emirates Islamic and Plug and Play campaign aims to call for leading Islamic fintechs and financial startups by offering enhanced customer journeys across SME financing, trade finance and financial wellbeing.
The fintech accelerator campaign will enable the bank to deliver differentiated offerings with the support and co-creation of solutions with leading fintech players that operate in the Islamic fintech space.
Emirates Islamic aims to extend its Islamic fintech collaboration to a wider range of fintech accelerators from across the world, through Plug and Play Abu Dhabi’s existing global network.
Ultimately, the new campaign looks to serve Emirates Islamic’s priority areas. To achieve this, Plug and Play Abu Dhabi will screen global start-ups to find the best fit for the group’s business needs.
Emirates Islamic’s priorities
Areas that Emirates Islamic identified as priority areas include:
- Streamlining banking processes for small businesses. This provides affordable solutions and real-time finance; while also optimising back-office operational efficiencies.
- Digitising the trade finance process. This improves customer journey, reduces turnaround time, minimises operating costs and creates a more secure platform.
- Personalising financial well-being through insights and portfolios. This helps customers manage their money more meaningfully.
The move expands also Plug and Play Abu Dhabi’s existing partnership with the Emirates banking group. Emirates NBD partnered with the platform in 2022 to globally expand its open innovation ecosystem.
Creating a more inclusive financial landscape for the UAE
Miguel Rio Tinto, group chief information officer at Emirates NBD, said: “We are delighted to be teaming up once more with leading global innovation players Plug and Play Abu Dhabi. As Emirates Islamic continues to drive innovation in the Islamic banking sector, it now has the opportunity to be a part of a pioneering initiative, to further explore fintech capabilities and engage the brightest start-ups from around the world.
“The open collaborations enable us to implement unique, collaborative solutions to our most critical business needs while improving the experience for our financial products and services.”
Saeed Amidi, CEO and founder of Plug and Play Tech Center, also commented: “We are delighted to collaborate with Emirates Islamic and support UAE’s mission in driving innovation and providing cutting-edge fintech solutions.
“Through this collaboration, we hope to spur the development of new ideas and technologies that can help streamline the banking process for SME’s, digitise the trade finance process, as well as personalise financial well-being. Together, we will create a more inclusive and secure financial landscape for the people of the UAE and customers of Emirates Islamic.”
