DIFC FinTech Hive’s Largest Ever Accelerator Programme Cohort Sets Standard For Financial Innovation In The Region
Largest cohort in the programme’s five year history.
DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region has announced that its much anticipated Investor Day took place today.
44 successful start-ups participated, making it the largest cohort since the programme launched in 2017. These start-ups showcased this year’s most innovative technologies to a virtual audience of investors, industry leaders and the initiative’s financial and knowledge partners.
Over the last five years, DIFC FinTech Hive has received over 2,500 applications for its signature programme. More than 160 start-ups have been selected to participate.
Successful firms taking part in the DIFC FinTech Hive Accelerator programme can unlock opportunities to develop, test and modify their innovations in collaboration with top executives and world-leading financial institutions as part of a forward-thinking professional community. DIFC FinTech Hive also helps start-ups tailor their technologies to meet local demand and enter the MEASA region.
Participants were selected through an intensive, competitive process to participate in one of two innovation sprints with a one-month curriculum that helps growth-stage start-ups. In addition to UAE talent, the 2021 cohort had a truly global feel with start-ups selected from Africa, Asia, Europe, the GCC and North America.
This year’s programme attracted leading technology entrepreneurs and start-ups covering a broad range of sectors such as FinTech, RegTech and Islamic FinTech. They address key technology innovation themes including Open Banking, SME banking, InsurTech, RegTech, Wallets & Payments, ESG, Credit Scoring and more.
Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive, said: “The solutions from this year’s DIFC FinTech Hive Accelerator participants are amongst the best we have seen since the programme launched in 2017. The participants have developed technologies which will help shape the future of finance and are worthy of investment.
“The start-ups have worked closely with our partners to ensure they were ready to be connected with investors and industry experts at the Investor Day. We would like to congratulate the start-ups on successfully completing the programme and look forward to helping them grow further from DIFC, one the world’s top ten FinTech hubs.”
This year’s event included the following banking partners Abu Dhabi Islamic Bank, Dubai Islamic Bank, First Abu Dhabi Bank, Emirates NBD, HSBC, Standard Chartered Bank, Visa, and Wall Street Exchange, along with insurance partners Abu Dhabi National Insurance Company, Zurich as well as the Department of Economic Development and Etisalat.
The 44 innovative start-ups selected to participate at Investor Day 2021 were:
Agiliux offer cloud solutions to improve operational efficiency for Insurers.
Accura Scan, India
Accura Scan is a Digital KYC & User Verification, helping customers to fight online fraud.
Bankaks is the platform that helps low-income migrants across the world to provide essential products and services directly to their families with no need for remittances.
beMobi is an ecosystem enabler that provides the highest security level aiming to eradicate the existing payment scams by facilitating transformation into cashless society and charter a blueprint of how to become a benchmark in the ongoing financial sector transformation.
BimaXpress democratises the HealthCare experience and makes it accessible and equitable from a financial point of view.
Business Score, UK
Business Score is a unified API and Widget for SME Business lending allowing digital platforms and banks to connect to a panel of lenders with one easy to use integration.
CDDPro is a smart, AI-enabled tool which uses Natural Language Processing (NLP) to help consistently obtain relevant, credible, legally required information from customers concerning their financial and business backgrounds, their business models, their sources of wealth and why they want to do business.
ContinNube is Smart Security Compliance for Cloud and Kubernetes Applications through Continuous Security Controls Observability, Telemetry and Signals.
Corizance is reshaping legacy and silo non-financial risk management by helping business, risk, and compliance teams in banks, insurance, and high-risk businesses to manage their critical operational risks connectedly using a single, advanced, AI-powered, Low-code platform.
DeltaBlock helps mid-size exchange-listed companies gain visibility in the stock market by using trading algorithms to improve the market conditions of the asset, engaging traders and reducing the risk perception of the asset.