A tale of 44 cities | Abu Dhabi S e l f e v a u l a t i o n o f tH h eu hb u bi in nd i sc i High Rankxa t ko e yr s a r e a Abu Dhabis Best workspace and accelerators Hub features Top FinTech companies Hub profile Technologies While FinTech is a recent development in Abu Dhabi, some financial institutions Os have started embracing and deploying FinTech solutions. For example: The l o Flat6Labs Cloud computing National Bank of Abu Dhabi (NBAD) was the first bank in MENA to go live on LuG blockchain for real time cross border payments with Ripple, the Abu Dhabi Islamic xo GlassQube Co-working Mobile ev me r Bank (ADIB) partnered with Fidor Bank to launch the region’s first ‘community bn Social media oum re based digital bank’ and within the first batch of 11 Regulatory Laboratory gGn l o b a l F Banking-as-a-service it CCn ies n t tr Ayeu applications, we see a mix of FinTech players including robo-advisors, big data, b3p u2p Credit and debit cards Do habr crowdfunders and a digital bank. it Innovation areas Big investors K uala L Abu Dhabi is home to some of the largest sovereign wealth funds and financial umpu E-commerce Abu Dhabi, the capital and economic centre of the United Arab r institutions (e.g., National Bank of Abu Dhabi, the largest bank in the MENA region) Identity management and a high concentration of institutional and private wealth. In Payments Emirates, is home to some of the world’s largest sovereign wealth n INDEX SCOREo funds. As a free-trade zone, it boasts a strong financial centre;va Mobile apps t Success stories Warsawi o P2P crowdfunding stable political, regulatory and judicial regimes; a business-friendly c n The launch of the RegLab was a milestone success for Abu Dhabi as this marked environment; excellent technology infrastructure and availability of 99utlu the openness and support by regulators and government towards innovation. capital. Furthermore, its location in the East-West corridor meanser Challenges The collaboration between banks and startups, and the banks’ innovation that Abu Dhabi is well-positioned to be the FinTech nexus for theLow Rank62uBD Risk averse culture strategies more broadly, is also another success story as it highlights the attitude MENA region. nenisnio High cost of office space oitassg Limited exit opportunities of the main institutions towards FinTech. vonnIx1 laboeldnI4se The future RGerti In 2017, ADGM plans to host and organise a FinTech Summit. Leading up to egula exp the Summit, there will be a series of FinTech hackathon / demo day events to tioy to nmit showcase the FinTech entrepreneurial scene in the region. ADGM received the oxi first batch of 11 applications for the RegLab in January 2017 and expects to Pr complete its assessment for the first batch and open the 2nd batch of application in Q2 2017. Hub representativeFormers Abu Dhabi Global Marketeign sto custo artupsProximity t CEO Richard Teng 25