National Bank of Fujairah Underscores Commitment to the Development of FinTech Industry at the MENA FinTech Hackathon

Press release
Published October 6th, 2019 - 09:40 GMT
During the event
During the event
Highlights
National Bank of Fujairah (NBF) PJSC announced its partnership with Fintech Galaxy, the region’s well known fintech digital crowdsourcing platform.

National Bank of Fujairah (NBF) PJSC announced its partnership with Fintech Galaxy, the region’s well known fintech digital crowdsourcing platform. Recently the bank participated in MENA Fintech hackathon organised by Fintech Galaxy which brought together the region’s leading banks, regulators, industry experts and top Fintechs to assess and devise ready-made solutions to the ever-evolving Fintech industry. 

The event featured a competitive hackathon which tasked 25 shortlisted Fintechs from around the world to develop and showcase disruptive solutions to briefs brought forth by some of the participating banks. Fintechs which participated NBF’s challenge presented solutions for account aggregation and instant settlement and digitisation for the Murabaha process.

Sitting on the sidelines of the event, Devid Jegerson, NBF’s Head of Customer Experience and Platform said: “We are thrilled to be joining forces with Fintech Galaxy and in extending our financial and expert-led support. NBF is the first bank to connect to Fintech Galaxy’s sandbox environment which enables Fintechs to design innovative products for its clients. This Fintech hackathon has brought together some of the sharpest minds in the industry who have showcased their innovative and solutions-oriented approach to banking today. At NBF, we will continue to seize forward-thinking partnerships and opportunities that support our aim to ensure our banking platforms respond to our customers’ evolving personal and business needs.”

The participating Fintechs presented their ready-made solutions to key domains in the industry such as customer experience, credit ratings, payments, digital lending, smart contracts and trade finance to a judging panel of high-level executives from each of the financial institutions along with regulators and industry experts. Upon assessment NBF awarded the winners of the Hackathon of the NBF challenge.  In its commitment to be the best financial partner for clients, National Bank of Fujairah has always championed the use of knowledge-exchange platforms in an effort to examine and assess the shifting banking and business landscapes.

Background Information

National Bank of Fujairah

As one of the most well-respected corporate banks in the UAE, National Bank of Fujairah is renowned for its award-winning services, unrivalled understanding of local markets and unwavering commitment to its customers. As the UAE’s bank of choice for over 30 years, it just makes good business sense to bank with National Bank of Fujairah.

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