Tuesday, December 5, 2023
  • About Us
  • Events
  • Advertise
  • Contact
  • Login
  • Register
No Result
View All Result
The Wealth Today
  • Investments
  • Wealth Management
  • Technology
  • People
    • New Leaders
  • Impact Investing
  • Partner Content
  • Risk & Compliance
  • Exclusives
The Wealth Today
No Result
View All Result
Home Banking

Emirates NBD launches global call for metaverse start-ups to transform banking

The Wealth Today by The Wealth Today
August 22, 2022
in Banking, Digital Transformation
Emirates NBD launches global call for metaverse start-ups to transform banking
Share on FacebookShare on Twitter
  • Bank’s first play in the metaverse to enhance the customer experience for the new virtual economy
  • Aligned with the Dubai Metaverse Strategy aimed to position Dubai in the top ten metaverse economies of the world

Dubai, UAE, 17 August 2022: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has launched a global accelerator programme for metaverse start-ups to enhance the customer experience for the new virtual economy, in partnership with the Dubai International Financial Centre (DIFC) Fintech Hive, the largest financial technology hub in the Middle East, Africa and South Asia (MEASA) region, and powered by technology provider Microsoft.

Marking Emirates NBD’s first play in the metaverse, the accelerator programme positions the bank as a leader in the next phase of banking innovation in alignment with the Dubai Metaverse Strategy aimed at placing Dubai in the top ten metaverse economies of the world, supporting more than 40,000 virtual jobs by 2030 and adding USD4 billion to Dubai’s economy in five years.

With 94% of all financial transactions and requests conducted outside the branches, the bank is exploring new technologies in the web 3.0 world to expand its digital footprint and create immersive experiences for our customers.

Emirates NBD is scouting for leading FinTech’s, digital experience start-ups and emerging technology players operating across the metaverse landscape to enhance its immersion in the virtual world across three key areas: building the technology stack to facilitate the shift to 3D, creating virtual worlds to augment the customer experience in the metaverse and enabling a decentralized payment infrastructure for customers to create, monetise, buy and sell digital assets and services.

Over a ten-week acceleration programme, the DIFC Fintech Hive will evaluate and match Emirates NBD with leading start-ups offering unique propositions on the value creation, experience and technology stack required for the metaverse. This will culminate in a demo day at GITEX where the shortlisted participants will pitch their solutions for an opportunity to co-create engaging experiences for our customers in the new reality.

Commenting on the launch, Marwan Hadi, Executive Vice President and Head of Retail Banking at Emirates NBD said: “Attracting innovative start-ups is crucial to Dubai’s ambition to be an international leader in the metaverse. As a leader in the region’s banking sector, Emirates NBD has always been a front-runner of digital innovation, looking to experiment and partner with tech start-ups who can help us accelerate our transformation journey and develop solutions that optimize customer experience. With our entry into the metaverse, we seek to reimagine financial services using extended reality and create compelling new propositions for our customers in the new metaverse economy.”

Miguel Rio Tinto, Group Chief Information Officer at Emirates NBD said, “As a Bank that has always been at the forefront of adopting emerging technologies, see unique opportunity areas to reimagine financial services including virtualising interactions with customers and providing financial services to the creator economy by enabling new products and marketplaces. With the support of the DIFC FinTech Hive and Microsoft, Emirates NBD is looking forward to becoming a launchpad of innovative financial services in the metaverse, playing an active role in co-creating new experiences for our customers with innovative start-ups from around the world.”

Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive, said: “We are pleased to collaborate with Emirates NBD to launch the global accelerator programme for metaverse start-ups, which are growing rapidly and witnessing increasing interest from around the world. This step reaffirms our commitment to support Dubai’s ambition to be among the top ten metaverse economies in the world. At DIFC FinTech Hive, we continue to adopt latest technologies to keep pace with the rising momentum in the global digital space.”

“In the metaverse, where physical and digital worlds come together to create an entirely new platform layer, we have an exciting opportunity to create transformative solutions that completely revolutionize the journeys and experiences of consumers”, said Naim Yazbeck, General Manager at Microsoft UAE: “Innovative tech start-ups play a crucial role in this reimagining, bringing creative, unique viewpoints to the design of an entirely new world. We recognize the impact that startups can deliver when they are armed with next-generation technologies that bring their ideas to life, and we look forward to working with these innovators and helping them to realize this potential over the course of the programme.”

——

Disclaimer: The content of the above information is sourced (or provided), in entirety or in parts from an external source and the content may or may not be edited. The Wealth Today shall not be held liable for damages arising out of any action taken with respect to the use or consumption of information or service published above or anywhere else on the website. This website does not guarantee the accuracy, views, opinions, or any promises expressed in the above news. 

If you find any errors or discrepancies in the above information, you can write to us at editor@thewealth.today.

——


Tags: DIFCEmirates NBDMetaverse
Previous Post

SAMA announces the launch of POS service between Saudi Arabia and Qatar

Next Post

DFM welcomes the listing of Union Coop, the largest retail cooperative in the UAE

Next Post
DFM welcomes the listing of Union Coop, the largest retail cooperative in the UAE

DFM welcomes the listing of Union Coop, the largest retail cooperative in the UAE

Recent Tweets

  • About
  • Get Engaged
  • Events
  • Contact
  • T&C
  • Privacy Policy

© 2021 The Wealth Today

No Result
View All Result
  • Investment
  • Wealth Management
  • Technology
  • People
    • New Leaders
  • Impact Investing
  • Partner Content
  • Risk & Compliance
  • About
  • Events
  • Advertise
  • Contact
  • Exclusives
  • Login
  • Sign Up
  • Cart

© 2020 The Wealth Today

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Add New Playlist