January 23, 2019

How Gulf Countries Are Embracing FinTech

FinTech in the Gulf Countries Council (GCC) On a global scale, the adoption of advanced technologies has been rapidly accelerating. FinTech has affected almost all the industries that are located in the GCC, including the sports and telecommunication sectors. All the countries under the GCC are highly adaptive to the technologies or any innovative idea for that matter. The GCC nations have embraced the opportunities in FinTech and blockchain technology, in particular, at different paces. FinTech plays a crucial role in the future of the financial services industry in the region – the industry is expected to immensely impact public and private sectors. FinTech is bringing advanced technologies into the financial sector, improving its performance and delivering value to customers. Some estimates suggest that investments in Gulf-based FinTech startups are expected to reach $2 billion in the next decade, compared to $150 million invested in the last 10 years. Among…

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