UAE fintech market to reach USD 2.5 billion by 2022

UAE fintech market to reach USD 2.5 billion by 2022

An updated report issued by Clifford Chance says MENA's fintech market will top USD 2.5 billion by 2022 as a result of regional and multi-national financial institutions rolling out digital platforms to transform customer experiences, optimize costs, and meet data regulations.. Recent major digital transformation projects have included the backup and disaster recovery and hybrid cloud environments for the UAE's largest bank, an identity and access management solution for a large bank in the Northern Emirates, and virtual desktop infrastructure for 2,500 employees of a major European-based bank.. With the right security solutions in place, banks in the UAE can ensure secure and trusted transactions, reduce risk, and meet government legislation on data breaches..