Thursday 10 October 2019
The Dubai International Financial Center (DIFC), the international financial hub in the Middle East, Africa and South Asia (MEASA) region and home to the largest, most developed financial technolgy (fintech) ecosystem in the region has been awarded ‘FinTech Hub of the Year’ in the FinX awards.
The accolade reflects the DIFC’s achievements as a global hub for innovation and excellence and further cements its reputation as one of the world’s most dynamic financial centers.
The award was presented on the 2 October 2019 in Dubai and recognizes the hub’s achievements across the five pillars of the fintech ecosystem:
The FinX Awards 2019 celebrate innovation and entrepreneurship in the fintech ecosystem in the Middle East and North Africa region and recognize innovation, excellence and best practice shaping the future of financial services.
DIFC's holistic ecosystem offers start-ups access to mentorship and a dedicated FinTech Fund. The Center has seen a marked increase in the number of firms that make up its dynamic innovation technology ecosystem, which increased in size from 80 to 200 companies during the first nine months of 2019. Similarly, the number of licensed fintech firms operating in the Center increased from 35 to more than 100 since the end of 2018.
Dubai continues to be recognized globally as a dynamic and innovative business environment. The DIFC has delivered outstanding performance across both institutional and financial technology sectors. DIFC offers all the elements found in the world’s most successful financial ecosystems, including an independent regulatory and judicial system, a global financial exchange, access to funding, a dynamic and enabling sector environment, complemented by a diverse and cosmopolitan talent pool and a vibrant business community.