The UAE is a financial and technology basin, so, unsurprisingly, the area is rife with innovative Fintechs. By boldly introducing, even pioneering, innovative solutions, UAE-based companies are revolutionizing the way people manage their finances, make payments or invest.
We have prepared a list of 10 UEA-based Fintechs that are introducing new technologies, and changing the financial sector’s game rules. The order of the companies is alphabetical.
- BitOasis
BitOasis is the biggest cryptocurrency platform in the MENA region. The ecosystem created is transparent, allowing cryptocurrencies to be bought, sold, and stored securely for experts and novices alike.
BitOasis efficiently adapts global cryptocurrency trends to the specifics and regulations of the local market. It actively focuses on adapting cryptocurrencies and educating on their safe use.
- Cashew Payment
Cashew Payment specializes in ‘buy now, pay later’ (BNPL) payment solutions, allowing consumers flexible and tailored finance options. The company works with a wide network of retail providers, making the BNPL solution increasingly popular.
Cashew Payment offers an easy-to-access e-commerce and point-of-sale retail solution through technology integration and a simple process.
- Huspy
Huspy is revolutionizing the UAE property market by offering digital mortgage financing solutions. The company simplifies and speeds up the mortgage application process, making it more accessible and less time-consuming for buyers.
Huspy uses data and algorithms to personalize mortgage offers, thus providing offers tailored to the needs and capabilities of its customers. This is a big step forward in personalizing financial services.
- NymCard
NymCard offers a modern card platform as a service (CaaS). This enables banks and fintech companies to quickly deploy and manage card programs without having to build their infrastructure from scratch.
NymCard’s differentiator is its flexibility and scalability, enabling the creation of personalized payment experiences that also include solutions beyond the capabilities of traditional payment cards, e.g. expense management, rewards, or loyalty programs.
- Optasia
Optasia is an analytics platform that uses huge datasets and machine learning to optimize credit decisions. As a result, it can accurately quantify credit risk. This, in turn, translates into lower credit costs for consumers and less risk for lenders.
Importantly, Optasia processes data in real-time, enabling faster and more accurate credit decisions.
- Pyypl
Pyypl is a fintech that enables people without a bank account to access financial services. Using blockchain technology, the company offers secure, easily accessible, and affordable payment services that can be operated from a smartphone.
The Pyypl app allows users to carry out financial transactions such as money transfers, bill payments, and mobile phone top-ups. This is not only a solution to support economic development but also provides new opportunities for regions with limited access to banking services.
- Qlub
Qlub is a platform offering an innovative payment and expense management solution for the catering industry. The application allows for contactless ordering and payment of meals using a mobile phone
With its solution, Qlub not only increases the convenience and security of transactions for the user but also helps restaurants to increase operational efficiency and reduce costs.
- Tabby
Tabby is another platform offering BNPL services that enables consumers in the UAE and beyond to make purchases without interest or fees.
Tabby’s business model supports both consumers (through access to flexible financing with no hidden costs) but also merchants (enabling increased conversion and shopping basket value).
- Telr
Telr is an innovative payment gateway that offers businesses in the UAE and around the world comprehensive e-commerce and digital payment solutions. With the ability to handle transactions in multiple currencies and languages, it makes it easier for local businesses to expand globally.
Telr is distinguished by its flexibility, advanced security features, and support for a wide range of payment methods, making its solution attractive to businesses with different business profiles.
- Yap
Yap provides a digital alternative to traditional banks, offering a full range of banking services through an intuitive mobile app. Yap users can manage their finances, and make payments, transfers, and investments without visiting a bank branch
The introduction of modern financial technologies and the personalization of services make Yap stand out in the market as a leader in the digital transformation of the banking sector.
The UAE-based Fintechs brilliantly demonstrates how creative and imaginative approaches to new technologies can transform traditional financial services, making them more accessible to users around the world.
We hope our compilation has inspired you to take a fresh look at the Fintech industry – just as the pioneers in the UAE are doing.
