In a bid to build a strong fintech ecosystem around the Middle East and Africa (MEA) region, Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi and Let’s Talk Payments LLC (LTP) have formed an alliance. The entities will engage in enhancing their capabilities, growth and innovation around the region by establishing a connection between regional fintech communities.
LTP is one of the largest players and a pioneer in fintech innovation. It has deep experience in this domain. Its MEDICI platform for collaborative innovation is supported by independent research. Through LTP’s resources and platform, fintech innovators and partners on ADGM’s innovation platforms, including ADGM Regulatory Laboratory (ADGM RegLab), will get access to a global support network of fintech communities and technological institutions.
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Through this partnership, LTP will gain strategic insights and entry to the development and growth opportunities only available in Abu Dhabi to the whole of UAE and wider emerging economies in the region.
The new partners are very positive on the future of the alliance. Mr Amit Goel, co-founder and Managing Director of LTP, said: “ADGM is spearheading some great initiatives to provide momentum to the growing FinTech ecosystem in the MEA region. Through our global FinTech innovation platform ‘MEDICI’, we are very happy to have partnered with ADGM and hope to work with them closely. The MEDICI platform acts as the connective tissue between startups, financial institutions, investors and other relevant stakeholders globally. We are very excited to partner with local ecosystems in taking FinTech forward.”
Mr Richard Teng, CEO, FSRA of ADGM, said: “Building an inclusive and innovative FinTech ecosystem involves collaboration at every level and across every strategic value chain from startups, banking institutions, accelerators, investors and regulators, locally and internationally. As the FinTech Hub, ADGM creates the connectivity and environment for local and global Fintech stakeholders to exchange ideas and assist each other in realizing their potentials in the Middle East and Africa. We look forward to joining forces with Let’s Talk Payments to roll out concrete initiatives to support the community and our FinTech ecosystem.”
ADGM has been investing all its resources in the development of the fintech ecosystem in the region. Only recently, ADGM signed an agreement with SWISS SFTA
and regulators in Australia
to push innovation in the fintech industry.