DIFC gets record 620 applications for fintech accelerator FinTech Hive

DIFC gets record 620 applications for fintech accelerator FinTech Hive

DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, has attracted an unprecedented 620 global, regional and local applications for the signature programme.The 620 applications for the intake, exceeds the previous record of 425 applications, received in 2019. The applications represent an exceptionally broad range of concepts, submitted by an impressive pool of talent which reflects DIFC's reputation for nurturing financial innovation.Specialisms include FinTech, InsurTech, RegTech and Islamic FinTech. Key technologies within the submissions include contactless payments, digital identification, corporate solutions including treasury management, credit-underwriting automation, data management and analytics.Thirty per cent of applications were from UAE based firms, demonstrating a strong pipeline of financial technology talent within the Emirates. Forty-six per cent came from the Mena region and