ADGM launches Abu Dhabi Fintech Awards in collaboration with KPMG

04 September 2019 3 min. read

Abu Dhabi Global Market has launched the FinTech Abu Dhabi Awards – with applications open until the 23rd of September.

Abu Dhabi’s International Financial Centre the Abu Dhabi Global Market (ADGM) has launched the inaugural FinTech Abu Dhabi Awards, celebrating contributions to the local and regional fintech ecosystem. Applications are open until the 23rd of this month, with winners to be announced during the third FinTech Abu Dhabi Festival over the 21st to 23rd of October – an event supported by KPMG.

“The FinTech Abu Dhabi Awards aim to showcase and credit the tremendous achievements made by FinTech leaders in our region,” said Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority of ADGM. “We look forward to receiving nominations and playing our part in recognising efforts in transforming the financial services’ landscape in the region."

To be assessed by an independent panel of industry experts on the criteria of innovation, impact, and influence, submissions from eligible candidates are invited across nine categories, including UAE, MENA and Emerging Markets FinTechs of the Year, Corporate Innovation Programme of the Year, Fintech Investor and Fintech Accelarator of the Year, and FinTech Leader, Emerging Talent, and Woman of the Year.

ADGM launches Abu Dhabi Fintech Awards in collaboration with KPMG

“KPMG is delighted to be a part of the FinTech Abu Dhabi Awards as part of our three-year long association with ADGM to support innovation in the UAE. This is a fantastic initiative, especially as it continues to attract growing regional and international interest.” said KPMG Lower Gulf Financial Services Partner Umair Hameed, who is a founding board member of the recently launched MENA Fintech Association.

As part of the upcoming festival, KPMG will again host the Fintech Innovation Challenge, following successful editions over the past two years. “The first two instalments of the Challenge have demonstrated the transformative potential of technology to solve the pain points in the financial services industry,” said Teng. “These solutions have been deployed to great success by leading financial institutions in the region."

For the challenge, KPMG will pose 15 fintech problem statements across a number of financial sector categories that financial institutions, corporates and consumers continue to face in the UAE and wider Middle East, Africa & South Asia region – such as “Banking, remittance, investment and insurance services are often out of reach of low income migrant workers” – with entrants challenged to devise an innovative technology-based solution.

Those successful will be in line to receive an attractive package of rewards, including the chance to represent Abu Dhabi at the Global FinTech Hackcelerator in Singapore in November (with $S200,000 in development funding up for grabs), an exhibition space at the FinTech Abu Dhabi Festival with a stipend to cover travel expenses, and ongoing guidance and support from ADGM and KPMG in deploying solutions across the MENA region.