FinTech Hive at DIFC

At the Forefront of Financial Innovation

In January 2017, Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East and North Africa, established a first-of-its-kind accelerator in the region. Fintech Hive was created to bring cutting-edge financial services technology to these markets through its platform that brings financial and technology firms together.

An Unparalleled Ecosystem

Today, Fintech Hive has built an ecosystem of more than 60 partner entities, united in their common goal towards fostering innovation in the region. Fintech Hive also fffers cost-effective licensing solutions for fintechs, supportive regulation through its Innovative Testing License, flexible co-working spaces and access to a financial community of more than 22,000 professionals working across over 1,850 firms, and offering that is unmatched in the region.

"DIFC, home to over 22,000 individuals from over 1,850 financial and professional services companies"

Why FinTech Hive at DIFC?

Industry progression requires significant co-operation between traditional players and FinTech firms, along with the ability to anticipate changes and adapt the working model of the industry. FinTech Hive at DIFC differs from other accelerators across the globe, as both FinTech and financial institutions are housed under one roof. Major banks and financial institutions from across the globe have set up in DIFC to undertake business in the region. We believe that innovation would be driven when talent from inside and outside the ecosystem work in harmony to create the ideal product. This self-contained environment is an ideal nurturing ground for creating and developing an exceptional FinTech hub that meets the needs of the financial services industry, stakeholders and customers alike.

How does the FinTech Hive at DIFC differ from other FinTech accelerators or labs?

FinTech Hive at DIFC is based on three central pillars; Ground Up Development, Global Connectivity and Ecosystem Development.

Ground Up Development

Customised and focused technology solutions are paramount to driving success and overcoming obstacles. Deal flow and data spanning over the past decade has been captured and analysed, allowing for the continued success and implementation of strategic measures to be put in place, and to showcase the far-reaching needs of both global and local financial services players.

Global Connectivity

An international community drives innovation and collaboration, DIFC has brought in a tried and tested global concept to complete this link. The accelerator allows experience on a global scale to find the right niche in which to work and excel through solution-led financial technology.

Ecosystem Development

Continued reflection and learning has allowed for an unparalleled ecosystem to be created and enhanced throughout the course of its development, catering to all parts of the value chain. The ecosystem of Capital, Talent and Infrastructure is already in place, complementing top-end deal flow and a rapidly growing risk capital culture to drive FinTech innovation for the MEASA region.

DIFC

About Dubai International Financial Centre

DIFC is one of the world’s top ten financial centres, and the leading financial hub for the Middle East, Africa and South Asia.  The Centre provides a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas and facilitates growth in South-South trade and investment. An onshore, international financial centre, DIFC offers a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator and judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing the Middle East, Africa, Southern Asia and Latin America. 

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3 billion and nominal GDP of US$7.4 trillion. 

For further information, visit: www.difc.ae