From a buzzword to reality – open banking has come a long way. It’s now a default setting powering a wide range of products addressed to the retail consumer. Open banking apps have become interfaces for financial services, changing the banking experience.
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The Middle East is a huge and diverse region spanning over three continents and populated by more than half a billion people. This diversity is also visible in the FinTech market there, with some regions more technologically advanced and some just at the beginning of their road to the future of financial services. Let’s find out more about the FinTech in the Middle East landscape.
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Can you make money by serving people of humble means? Can you sustain a business addressed to people outside of the global financial system? Limited market opportunities and few coins in the pocket don’t have to be a dead end. As Bill Gates once said: there’s a difference between banks and banking. If you need proof that FinTech companies can provide quality services to customers despite their financial status, look at neobanks in Africa.
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