Authorized push payment (APP) scam losses are on the rise, expected to climb to US$7.6 billion by 2028 across six leading real-time payment markets (U.S., U.K., India, Brazil, Australia and UAE), according to the latest Scamscope report from ACI Worldwide in partnership with GlobalData, a leading data and analytics company. According to the report, the […] The post ACI Worldwide Scamscope projects 43% increase in UAE APP scam losses for 2024, US$30 million expected by 2028 appeared first on mea-finance.com ..read more

Emirates NBD has invested in Zodia Custody, a prominent institution-first digital asset custodian. The strategic equity investment was made by Emirates NBD’s Innovation Fund, the bank’s corporate venture fund. Created in 2023, the fund strengthens the bank’s digital ambitions and regional expertise in synergy with the agility and technological innovations of FinTech companies. The UAE […] The post Emirates NBD powers digital asset custody in the UAE through investment in Zodia Custody appeared first on mea-finance.com ..read more

Geidea partners with Mastercard. The collaboration is designed to accelerate digital payment adoption among small and medium-sized enterprises (SMEs) in the UAE by enabling them to accept payments via Mastercard Gateway. This integration will simplify payment processes for online merchants, allowing them to offer their customers a faster, more secure, and seamless transaction experience. Marking […] The post Geidea and Mastercard partners to transform digital payments for SMEs in the UAE appeared first on mea-finance.com ..read more

Standard Chartered Global Private Bank announced the expansion of its frontline private banking team by 20% in the UAE. This move underscores the Bank’s unwavering commitment to supporting the growing demand for bespoke private banking solutions in one of the world’s most prominent financial hubs. The investment in the private banking business in the UAE […] The post Standard Chartered Global Private Bank expands frontline bankers by 20% in the UAE appeared first on mea-finance.com ..read more

Emirates NBD announced a fifth council member of its Digital Asset Lab – Chainlink, the standard for onchain finance, verifiable data, and cross-chain interoperability. Following the signing of a Memorandum of Understanding at Abu Dhabi Finance Week, Chainlink will join other founding members including PwC, Fireblocks, R3 and Chainalysis. Chainlink’s membership will play a key […] The post Emirates NBD welcomes Chainlink to Digital Asset Lab appeared first on mea-finance.com ..read more

AE Coin has secured the final Central Bank of the UAE (CBUAE) license to launch, marking a significant milestone in the evolution of digital finance. Developed under the CBUAE’s digital payment token services framework and aligned with the UAE government’s forward-looking vision, AE Coin is set to revolutionize the financial services landscape, promising an instant, […] The post AE Coin: UAE’s first-ever stablecoin receives final CBUAE license to launch appeared first on mea-finance.com ..read more

Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has strengthened its position as a strategic gateway to the region, for Chinese financial institutions and multinational firms. Chinese firms are using DIFC to access markets across the MEASA region, as well as  Belt and […] The post DIFC consolidates position as UAE’s top destination for Chinese financial institutions and multinational companies appeared first on mea-finance.com ..read more

At Backbase Engage Dubai 2024, Heidi Custers, Digital Transformation Director at Backbase talks to MEA Finance Magazine about whether technology or customers are leading change, and details how Backbase are growing and working with their partner ecosystem across the region. The post WATCH: Backbase ENGAGE Dubai 2024- interview with Heidi Custers, Digital Transformation Director at Backbase appeared first on mea-finance.com ..read more

Klaim, an Abu Dhabi-based fintech company, and Wio Bank PJSC announces the launch of an innovative cash-flow solution for healthcare providers in the UAE. This strategic collaboration combines Klaim’s expertise in accelerating insurance claim payments with Wio Business’s digital banking services, underlining Wio Bank’s commitment to championing growth for businesses. The partnership aims to streamline […] The post Wio Bank and KLAIM partners to unlock cash flow solutions for UAE healthcare providers appeared first on mea-finance.com ..read more

Emirates Islamic and Visa announced the renewal of their partnership with a multiyear agreement. The extension of their long-term partnership underscores their shared values of providing innovative customer-centric products and solutions to customers and boosting digital payments in the region. As part of the partnership agreement, Visa will be granted exclusivity overall credit cards issued […] The post Emirates Islamic and Visa renew long-term strategic partnership agreement appeared first on mea-finance.com ..read more