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Tag: Fintech

  • Commercial Bank of Dubai (CBD) joins Dubai FinTech Summit as a Strategic Banking Partner | by BitMedia Buzz | Apr, 2024

    Commercial Bank of Dubai (CBD) joins Dubai FinTech Summit as a Strategic Banking Partner | by BitMedia Buzz | Apr, 2024

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    InsiderFinance Wire

    Our PR partner, yourPRstrategist, is a proud media partner of the Dubai FinTech Summit, and we are pleased to extend their 10% discount to our community. Discount code: YPRS10

    The collaboration reinforces Dubai FinTech Summit and CBD’s shared commitment to strengthen the global financial ecosystem through innovation and knowledge exchange. The partnership will open doors to new opportunities for growth and development of the fintech sector.

    Dubai, U.A.E., April 8, 2024 — Commercial Bank of Dubai (CBD), one of the UAE’s leading national banks, has joined the Dubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global financial centre in the MEASA region, as a Strategic Banking Partner, underscoring its dedication to supporting innovative and future thinking businesses on a global scale. The partnership agreement was signed in the presence of Arif Amiri, Chief Executive Officer and DIFC Authority, and Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, by Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub, and Ali Imran, Chief Operating Officer of Commercial Bank of Dubai.

    Commercial Bank of Dubai was the first bank to establish a Digital Lab at the DIFC Innovation Hub. Over the years, the bank has been playing a pivotal role in the development of a dynamic and technology-driven financial ecosystem, paving the way for a smarter, more connected financial future. Through strategic programs and initiatives such as the Buy Now, Pay Later (BNPL) solution by Postpay, CBD has been actively engaged in enhancing the overall payments sector aimed at accelerating the growth of the FinTech industry.

    “The Dubai FinTech Summit is creating a powerhouse of partnerships bringing together pioneers, thinkers and disruptors from around the globe who are shaping the future of finance. Our collaboration with Commercial Bank of Dubai is a testament to our shared dedication in cultivating an energetic and forward-thinking FinTech ecosystem. It not only amplifies Dubai’s stature as a premier hub for business but also paves the way for us to convert challenges into avenues of opportunity, as we continue to cultivate the most sophisticated, inclusive and tech-savvy financial community on the global stage,” said Arif Amiri, Chief Executive Officer at DIFC Authority

    Dr. Bernd van Linder, Chief Executive Officer at Commercial Bank of Dubai, said, “Commercial Bank of Dubai is thrilled to be a part of the Dubai FinTech Summit 2024, a global platform that brings together the brightest minds in the industry to shape the future of finance. Our participation in this event aligns with our commitment to innovation and our vision to be at the forefront of the FinTech revolution. As a forward-thinking bank, we place our customers at the heart of our business, constantly striving to provide them with innovative solutions that meet their evolving needs. We are proud to have signed an MoU as Strategic Banking Partner with Dubai International Finance Centre as part of our sponsorship partnership. We look forward to engaging in insightful discussions and exploring new opportunities for growth and collaboration.”

    In line with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

    The Dubai FinTech Summit, scheduled for May 6–7, 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies.

    Visitors can purchase tickets for the Dubai FinTech Summit 2024, with early bird prices ending soon.

    About Dubai FinTech Summit

    Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors, and policymakers, signaling increased appetite for growth opportunities in the region.

    Dubai FinTech Summit signals a new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector. As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2% CAGR to USD 949 billion from 2022 to 2030. The summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033.

    The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation.

    To register for the event, visit www.dubaifintechsummit.com.

    For further enquiries, please contact:

    Samia Ahmad

    Assistant Manager, Marketing

    DIFC Innovation Hub

    +971529980096

    E: samia.ahmad@difc.ae

    Shadi Dawi

    Director of PR & Strategic Partnerships

    Trescon Global

    +971 55 498 4989

    shadi@tresconglobal.com

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  • 4 key takeaways from KPMG Pulse of Fintech Report

    4 key takeaways from KPMG Pulse of Fintech Report

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    As Bitcoin (BTC) and altcoins took a break from reaching new all-time highs, the market sentiment seems gloomy since the start of 2022. However, while the market seems to be sleeping, its trajectory shows that there’s more to look forward to in the coming months.

    Multinational professional services network KMPG published its biannual Pulse of Fintech report, where the firm tracks and analyzes developments and investments within the financial technology sector. The report highlighted the most notable developments in major regions like the Americas, Asia Pacific and EMEA, and pointed out the “surging interest” in crypto and blockchain in the past year.

    While the scope of the report covers a broader context, crypto and blockchain remained as one of the key topics. Here are the main takeaways from the Pulse of Fintech report by KPMG.

    Over $30 billion in investments entered crypto and blockchain

    From the $5.5 billion amassed in 2020, investments in the crypto and blockchain space rose to more than $30.2 billion in 2021. This shows that more companies have recognized that crypto and its technologies have potential roles to play in modern financial systems.

    Brian Heaver, KPMG US Managing Director thinks that 2021 is very significant for crypto when it comes to adoption.

    “There’s an incredible number of companies trying to do a lot of things in the crypto and blockchain space right now — and while we don’t know where all their efforts are going to land, there’s a ton of curiosity and interest in the possibilities.”

    Regtech focused on crypto despite the shift in Asia-Pacific

    Despite the outright crypto ban in China, technologies that help regulate crypto have been “a relatively hot area of investment” according to KPMG. The firm predicts that there may be more investments to come in regulation technology (regtech) solutions focusing on cryptocurrencies in the future.

    This may also make its way to Europe according to KPMG International’s Global Head of Regtech, Fabiano Gobbo.

    “While the US continued to attract the vast majority of investments in regtech, Europe is well-positioned to see growth heading into 2022.”

    Related: Global crypto adoption could ‘soon hit a hyper-inflection point’: Wells Fargo report

    Blockchain use cases are growing

    In 2021, as investors started to become more familiar with blockchain, interest in its various use cases has also grown. According to KPMG, the “universe of blockchain applicability” has expanded in 2021. The year spurred more interest in a wide range of blockchain applications, including multi-jurisdictional blockchain uses cases for data, research and analysis.

    Because of this, the firm also predicts that crypto will attract “investors of all types” including retail investors as well as corporate and institutional investors because of the increase in use cases.

    Singapore-based crypto investments grew more than tenfold

    As previously reported by Cointelegraph, crypto investments in Singapore grew very significantly in 2021. The global crypto hub recorded a whopping $1.48 billion in crypto-focused investments last year. This wildly surpasses its previous record in 2020 which was $110 million. The region’s crypto investments accounted for 5 percent of the total global investments in crypto in 2021. It also makes up a third of all investments in the fintech sector throughout the country.

    KPMG Singapore’s Head of Financial Services Advisory Anton Ruddenklau thinks that Singapore attracted investors that were previously looking into China, but are pushed away because of the crypto bans.

    “Singapore and India could be big winners on the investment front as investors and companies that might have gone to China look for opportunities elsewhere in the region.”