Dubai is an undisputed leader as a regional leading FinTech hub across the wider Middle East, Africa and South Asia (MEASA) region. The Fintech Times understands more first-hand of the developments and aspirations of Dubai in FinTech and digital as a whole with Dubai International Financial Centre’s (DIFC) Raja Al Mazrouei.
The crown jewel in Dubai’s wider financial services success and global hub status in the global economy is the Dubai International Financial Centre (DIFC). Within DIFC, the DIFC FinTech Hive is the largest and first financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region. They support the development and growth of FinTech, InsurTech, RegTech, and Islamic FinTech start-ups via various programmes, as well as providing a platform to present innovative products and solutions to MEASA’s most established financial service organisations and unparalleled investor network. Over 100 start-ups have been accelerated via DIFC’s FinTech Hive and have raised approximately $300 million, in addition to having strong relationships with leading innovation hubs around the world.
A notable initiative amongst many by DIFC FinTech Hive is AccelerateHer, which is a female-focused career mentorship accelerator which aims to provide young aspiring executives with the necessary tools and experience to help broaden their knowledge and reach in the industry and play a more active role in shaping the future of the financial landscape as a whole. AccelerateHer has enabled nearly 50 females, with 104 mentorship pairings and presented around 80 workshops thus far.
How has DIFC FinTech Hive grown since its launch in 2017? Watch the full interview with Raja Al Mazrouei, Executive Vice President of DIFC’s FinTech Hive:
Raja Al Mazrouei has an extensive career in the financial services sector, where she has developed an ecosystem for FinTech entrepreneurs and stakeholders in Dubai. Her marketing & communications expertise has enabled her to bring brands to life and foster communities to create business opportunities and societal impact for the FinTech sector specifically.
As the Executive Vice President of DIFC’s FinTech Hive, Raja brings together leading financial institutions, government entities, technology partners, venture capital as well as funds, and entrepreneurs to realise a common goal in driving the UAE’s national innovation agenda and shaping the future of financial services. Today, Raja stands at the helm of a regional leader in financial technology hubs and has contributed significantly to building a vibrant and dynamic community of over 350 start-ups operating in DIFC.
Raja has been named one of the top 100 Women in FinTech by Innovate Finance, the 50 Most Influential Women in Middle East Finance by Dow Jones’ Financial News, the top 100 Power Businesswomen in The Middle East by Forbes, and MENA Fintech Leader of the year by Entrepreneur Magazine. She is also an executive graduate of Harvard Business School (HBS), as well as holding positions on the boards of Dubai Fintech Ventures, Al Masraf Arab Bank for Investment & Foreign Trade, and a Member Board of Trustees of Mohammed Bin Rashid School of Government.