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Top 5 Fintech Trends in the UAE in 2022

The UAE fintech market is growing exponentially and is attracting international players to the country. Friendly investment policies, innovative business models, favorable tax policy for foreign investors, and massive digital campaigns to raise awareness are some of the ways that fuel the growth and expansion of the fintech sector in the country. These are, in fact, the top 5 Fintech trends in the UAE to keep an eye on in 2022. Keep watching!<br>

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Top 5 Fintech Trends in the UAE in 2022

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  1. Top 5 Fintech Trends in the UAE in 2022 On December 2, 2021, the UAE celebrated its golden jubilee. Yes, the country has turned 50 and on its glorious path has seen enormous development in various sectors, including finance. The main factors that have revolutionized the financial sector in the UAE are supportive government policies, prevailing financial free zones, a tech-savvy population interested in adopting the latest fintech models, and private sectors willing to partner with new innovative fintech companies. In this blog, we will discuss the top 5 fintech trends that will catapult companies into a new dimension in the fintech sector in 2022. What is Fintech? FinTech is the fine fusion of finance and technology. Its goal is to improve business operations while providing financial services by adopting modern digital technologies. Fintech enables the inclusion of various technologically advanced methods while disrupting legacy financial models, automating financial processes, and making them more efficient and productive. Financial App Development cost Examples of the various fintech models are mobile payment apps, cryptocurrencies, digital wallets, blockchains like Gemini and Bitcoin, net banking systems, etc. Recommended: Cost to develop on-demand Virtual Assistant App main trends AI-ML-enabled fintech services are increasingly impacting the financial sector in the UAE creating lucrative opportunities for companies that promise better results. Top fintech trends include: 1. Consolidation of the Banking Sector In recent years, the banking sector has consolidated by adopting digital financial technologies and integrating them into the banking eco-space. apps development companies in oman Multiple mergers and acquisitions (mergers and acquisitions) in

  2. the UAE banking industry have further increased the number of banks available in the country for end users. This pattern will continue in 2022. 2. Data-driven investment technologies Digital tools and technologies are crossing the financial landscape and data is taking center stage across the industry. Data-driven investment technologies powered by AI-ML are taking center stage. Data analytics, predictive analytics, and other digital tools enable investors to gain valuable insights and forecasts about the markets, helping them in their decision-making process. These analyzes provide accurate, value-based predictions regarding changes in the value of an asset, etc. Read more: Cost of Live Video Streaming Apps 3. Loan markets In the finance domain, lending markets have become a favorite fintech trend in the UAE market. Traditional lenders and investors are very keen to venture onto these platforms and lend funds there. This fintech model allows for greater lending capacity where more and more people gain access to various types of loans, at much lower rates. best application development company in Dubai These lending platforms allow borrowers to find the perfect loan for their specific needs and get more options to choose from, with unique interest rates. 4. Open banking The UAE fintech model is increasingly supporting the open banking methodology and sees it as an important key to innovations in the financial landscape. An open banking system facilitates the exchange of bank details between financial service providers in the country. As a result, consumers gain more control and control over their valuable assets and finances. This fintech model is removing roadblocks in the banking sector where the common consumer complaint that “banks don't listen to us” is fading away!

  3. 5. Non-fungible tokens Blockchain-led cryptocurrency and non-fungible tokens (NFTs) are other trends that the UAE is witnessing exponentially. list of mobile app companies in Kuwait According to a recent survey of over 1,004 people in the country (source: AlarabiyaNews), an impressive 23% of the UAE owns at least one non-fungible token (NFT). NFT ownership is gaining momentum and is a mainstream trend in the UAE fintech sector in 2022. Fintech: a booming market The UAE fintech market is growing exponentially and is attracting international players to the country. Friendly investment policies, innovative business models, favorable tax policy for foreign investors, and massive digital campaigns to raise awareness are some of the ways that fuel the growth and expansion of the fintech sector in the country. These are, in fact, the top 5 Fintech trends in the UAE to keep an eye on in 2022. Keep watching! Read more: Cost to Develop an App like Myntra

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