ADGM, Mastercard join hands to accelerate FinTech growth

ABU DHABI / WAM

The Abu Dhabi Global Market (ADGM),
the International financial centre in Abu Dhabi, and Mastercard, a leading technology company in the global payments
industry, are collaborating on initiatives and fostering more opportunities to
support the development and growth of FinTech activities in the UAE capital
and the wider region.
ADGM and Mastercard share a mutual commitment to developing and nurturing innovations that will add value and transform businesses. The new partnership will enable both organisations to exchange expertise and knowledge and cooperate on projects that will accelerate the expansion and depth of the FinTech ecosystem.
Mastercard has been at the forefront of innovative products and solutions that are designed to simplify the payments journey for all of its stakeholders. As part of its in-house innovation programme, Mastercard Labs, the financial services giant has established dedicated offices in international hubs such as New York, London and Singapore. Mastercard is also one of the key industry leaders mentoring some of the finalists of ADGM’s ongoing FinTech Abu Dhabi Innovation Challenge programme.
Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, said, “We are pleased to collaborate with ADGM to support and promote FinTech initiatives in Abu Dhabi as part of our continuous efforts to engage and grow relationships with the best and brightest
startups, who are reimagining financial technology. As payments technology leader, we see a great deal of potential for FinTech companies in the wider region, and this the new collaboration will help us play our part in supporting companies that will shape the future of commerce in the coming years.”
Richard Teng, CEO of the Financial
Services Regulatory Authority at ADGM, said, “We are excited to partner with
Mastercard in building and enhancing
the FinTech ecosystem in Abu Dhabi
and regionally.