Abu Dhabi Global Market and Let's Talk Payments lead FinTech connectivity with new partnership
Source: ADGM , Author: Posted by BI-ME staff
Posted: Tue September 12, 2017 1:45 pm

UAE. Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and Let’s Talk Payments LLC (LTP) have formed an alliance to enhance the  FinTech ecosystem, and the growth and deployment of innovation in the Middle East and Africa (MEA) region, by opening the network and connectivity among the local, regional and international FinTech communities.

LTP is one of the pioneers and largest players in FinTech innovation. With LTP’s MEDICI platform for collaborative innovation supported by deep independent research, LTP has defined new frontiers for the Fintech ecosystem. Over the last 4 years, LTP has been tracking 45+ FinTech segments. Some of the largest conferences in the world partner with LTP for its deep domain expertise, rich content, thought leadership and support for the innovation ecosystem.

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.”

Through LTP’s network and deep research capabilities, FinTech innovators and partners on ADGM’s innovation platforms, including the ADGM Regulatory Laboratory (ADGM RegLab) will have access to a global support network of finance mentors, professionals, investors, financial and technological institutions.  Through ADGM, the LTP network will gain strategic insights and entry to the developments and growth opportunities only available in Abu Dhabi, the whole UAE and wider emerging economies in the region.

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.”

About LTP
LTP is a pioneering FinTech insights company, which brings deep research expertise to FinTech trends, analysis and innovation globally.

LTP’s MEDICI platform is a resource for open innovation in the new global FinTech ecosystem. MEDICI provides unique industry insights with deep segment analyses by domain experts across 45 FinTech sectors. It also provides detailed startup data and access to 7500+ FinTech startups globally.

MEDICI is trusted by hundreds of financial institutions and investors to identify the right FinTech partners and investments. It has powered several accelerators, hackathons and contests globally.

LTP also provides MEDICI Advisory, a customized high value consulting service for leadership and board members that leverages LTP’s deep FinTech expertise and the insights from the MEDICI platform. Given this deep expertise, LTP has launched an exciting new offering in FinTech education.

About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre located in the capital city of the United Arab Emirates, opened for business on 21st October 2015.

In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.

ADGM’s three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, enable registered companies to conduct business in a zero-percent tax environment and operate with confidence within an international regulatory framework with its own independent judicial system and legislative infrastructure based on the Common Law.

Established by a UAE Federal Decree as a broad based financial centre, ADGM’s foundation is anchored on three of Abu Dhabi’s strategic strengths - private banking, wealth management and asset management and will continually expand its financial services in response to the needs of its businesses and marketplace.

Overview of ADGM’s FinTech Achievement and Commitment
ADGM will be hosting its first FinTech Abu Dhabi Summit will be launched and held on 23 October 2017.    As an IFC, ADGM has accomplished notable milestones and established strategic partnerships to bolster the FinTech ecosystem since March 2016. It is the first IFC in the MENA region to establish a dedicated and open regulatory framework in October to licence FinTech stakeholders and launched a Regulatory Laboratory (Reglab) to accelerate FinTech innovation. 

As a global FinTech Hub, ADGM continues to enhance its international network with the MENA region, Asia, Australia, US, UK, Europe to facilitate greater access to markets, capital and regulatory recognition for Fintech players. ADGM actively engages its stakeholders, forge partnerships and collaborations to develop a conducive and effective FinTech ecosystem.

ADGM is located on Al Maryah Island, a 114-hectare development that is home to world-class business and lifestyle facilities such as the Rosewood and Four Seasons Hotels and Residences, the first ever specialty Cleveland Clinic Hospital outside of USA, luxury retail at the Galleria Mall, and grade-A offices spaces to meet Abu Dhabi’s long-term development and economic needs. All these complement ADGM’s international financial centre position as a vibrant destination in the capital city in Abu Dhabi.

For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket, @FinTechAD, #FinTechAD .

For more details of the ADGM’s FinTech Abu Dhabi event, visit www.fintechabudhabi.com to register interest.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: November 21, 2017
UAE. The Middle East region continues to have the lowest Total Tax and Contribution Rate (TTCR) and time to comply, reflecting the relatively few taxes levied and a reliance on other sources of government revenues.
date:Posted: November 21, 2017
UAE. 67% of respondents believe the administrative processes of other countries are a barrier to further opportunities; 75% feel limited by the opportunities within the region at least some of the time.
date:Posted: November 20, 2017
UAE. A year-on-year comparison reveals that transactional activity is on the rise. In the first 10 months of 2017, total activity has already surpassed the full year of 2015 and 2016. On an annualized basis it is expected to have an increase of 32% compared to the year before.
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