DIFC Innovation Hub, AECB to empower fintech startups in the UAE

DIFC Innovation Hub and Al Etihad Credit Bureau have signed an agreement to enable the development of a partner ecosystem for startups across the UAE.

The announcement was made at the Dubai FinTech Summit 2023 at the Madinat Jumeirah.

Read: Emirates NBD, DIFC to support Dubai Economic Agenda D33 goals

The bureau will support the fintech sector’s growth by enabling pathways of access to unparalleled data utility and ensuring a consistently focused environment for the development and testing of more targeted solutions, while DIFC’s regulatory framework will provide a robust platform for collaborative action.

AECB to offer reliable data to support DIFC Innovation Hub community

AECB will enable fintech solutions by streamlining reliance in information to facilitate access to credit and increase financial responsibility and awareness. The bureau continues to make itself available as a platform to connect and access credit-related products which will in turn enable the DIFC Innovation Hub community to tap into new data sets to boost fintech development in the UAE market.

Marwan Ahmad Lutfi, CEO of AECB, said: “We are delighted to collaborate with DIFC Innovation Hub to empower the fintech startup community and enable innovation and growth in the UAE fintech sector. This collaboration aims to play a pivotal role in the fintech sector’s development as we work towards shared goals of facilitating SME growth, fostering innovation and enabling the UAE to become a centre for fintech ecosystem.

“We look forward to working closely with DIFC Innovation Hub to develop initiatives and programmes that will empower new business opportunities and expand the reach usability of credit scores and indicators to the wider fintech and business sectors.”