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Is the Middle East Ready to Bank on FinTech?

Being one of the least explored by FinTech startups and investors market, Middle East holds a great promise for companies looking to expand operational boundaries. Some estimates suggest that less than 0.1% of FinTech investment originates in the Middle East.

Consequently, the region’s banks and FinTech startups are lagging behind their foreign counterparts in the development of new services and business models, said David Martinez de Lecea, a Principal at Roland Berger.

Explaining the behavior model of regional banks, he added that by analyzing and replicating proven ideas, UAE banks can become first-followers and very quickly revolutionize the way financial services are provided in this country ...

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