|08 July, 2019

Bahrain FinTech Bay to join forces with SES to use space technology

Support Bahrain's ambitions in communications networks and cloud computing

Manama, Bahrain: Highlighting its commitment to further develop Bahrain’s technology ecosystem and its access to space technology, Bahrain FinTech Bay is working together with Luxembourg-based SES. SES is the leading satellite operator in the world, and the first to deliver a differentiated and scalable GEO-MEO offering worldwide, with over 50 satellites in Geostationary Earth Orbit (GEO) and 20 in Medium Earth Orbit (MEO).

Through the partnership, SES and Bahrain FinTech Bay will work together to support the development of Bahrain’s space capabilities and relevant applications in cloud computing, video distribution and communication networks in line with the Kingdom’s national goals and space aspirations. Bahrain FinTech Bay will engage key public stakeholders to work with them in achieving those goals and aspirations.

Commenting on the partnership, Khalid Saad, Chief Executive Officer of Bahrain FinTech Bay, said: “Bahrain FinTech Bay continues to strategically work with key stakeholders on initiatives that serve Bahrain’s long-term ambitions to transform further into an innovation and knowledge-driven economy. Our partnership with SES aims to support this transformation, including Bahrain’s Cloud First Policy, by developing the right space capabilities and infrastructure.”  

Christophe De Hauwer, Chief Strategy & Development Officer of SES, said: “At SES, we aim to do the extraordinary in space so that you can deliver amazing results on earth. We are honored that Bahrain FinTech Bay has chosen to work with us and look forward to jointly exploring how our solutions will be a key enabler in helping Bahrain’s ambition to achieve digital transformation.”

-Ends-

About SES:
SES is the world’s leading satellite operator with over 70 satellites in two different orbits, Geostationary Orbit (GEO) and Medium Earth Orbit (MEO). It provides a diverse range of customers with global video distribution and data connectivity services through two business units: SES Video and SES Networks. SES Video reaches over 355 million TV homes, through Direct-to-Home (DTH) platforms and cable, terrestrial, and IPTV networks globally. The SES Video portfolio includes MX1, a leading media service provider offering a full suite of innovative services for both linear and digital distribution, and the ASTRA satellite system, which has the largest DTH television reach in Europe. SES Networks provides global managed data services, connecting people in a variety of sectors including telecommunications, maritime, aeronautical, and energy, as well as governments and institutions across the world. The SES Networks portfolio includes GovSat, a 50/50 public-private partnership between SES and the Luxembourg government, and O3b, the only non-geostationary system delivering fibre-like broadband services today. Further information is available at: www.ses.com 

About Bahrain FinTech Bay (“BFB”)
Bahrain FinTech Bay (“BFB”) is the leading FinTech Hub in Middle East, located conveniently in the Arcapita Building, Bahrain. Bahrain FinTech Bay provides a physical hub to incubate insightful, scalable and impactful FinTech initiatives through innovation labs, acceleration programs, curated activities, educational opportunities and collaborative platforms.

Bahrain FinTech Bay partners with governmental bodies, financial institutions, corporates, consultancy firms, universities, associations, media agencies, venture capital and FinTech startups to bring the full spectrum of financial market participants and stakeholders together.

For more information on Bahrain FinTech Bay visit http://www.bahrainfintechbay.com 

About FinTech Consortium (“FTC”)
The FinTech Consortium is a fintech Incubator and Ecosystem Builder that aims to further the development, interaction and acceleration of FinTech ecosystems.

We foster synergies among market players, including government bodies, financial institutions, corporates, investors and innovators, who believe that technology can bring added value to the financial industry.

Through our FinTech incubation platform, we offer corporate incubation, research lab and venture acceleration as well as provide access to analytical tools and FinTech related resources. We believe that FinTech is a crucial infrastructure layer to strengthen financial services. For more information on FinTech Consortium visit http://www.fintech-consortium.com 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases