PHOTO
Manama – Bahrain:American Express Middle East in partnership with Nest concluded its first Accelerator programme the ACCELERATE ME by hosting its first annual Demo Day. At the event, the six participating start-ups presented their business solutions to Bahrain’s business and Fintech community.
The Demo Day follows the eight week ACCELERATE ME programme, which aims at connecting the next generation of startups and newly established SMEs from around the world with Bahrain and the Middle East region in general. ACCELERATE ME start-ups focused on a range of innovative technologies in areas such as delivering differentiated service experiences, automated payment solutions, and alternative physical and digital platforms to drive the move to a cashless society using secured and progressive technologies.
Speaking on this occasion, Mazin Khoury, CEO of American Express Middle East said:
“As a founding member of Bahrain Fintech Bay, and as proud contributor to the overall fintech ecosystem here in the region, American Express Middle East is delighted to be here today to support showcase the solutions offered by the ACCELERATEME participating Startups.
Through this initiative, we are backing new partnerships to be formed, bridging the gap between corporate organisations and the fintech community in Bahrain and the region to enable the move to a cashless society and make a difference in community we live in.
We fully understand the role that new technologies is playing in businesses in the region. Our 2018 Global Business and Spending Outlook report found that, with the rise of the connected customer, executives identified new technology as their number‐one spending priority; where 35% of respondents across the region said that mobile technology, for the purpose of delivering new products and unique services, will be one of key areas of focus in 2019.
At American Express Middle East, we will always bring our powerful backing to the powerful new business solutions and ideas for the future – ACCELERATE ME is simply an extension of this philosophy.”
CEO of Nest, Lawrence Morgan also commented:
“ The Accelerate Me programme has provided a great platform for the participating start-ups. Drawing on our Asia roots, Nest is focused on connecting the fast-growing markets of Asia, the Middle East and Africa by helping companies scale and corporates adopt new technologies. This is the start-up frontier and we are excited to partner with American Express Middle East on innovation and digital transformation”.
The ACCELERATE ME startups include:
- Crayon: Crayon Data's flagship product - Maya - matches customers with personalized offerings using enterprise transactional data and external data sources. Crayon is currently working with clients in the UAE.
- FOO: is a digital platform for onboarding / managing merchants, as well as handling cross border remittances & P2P transactions. The startup is introducing an alternative payment acceptance capability platform (QR code, sound-based method, Bluetooth, NFC) for merchants and a mobile wallet solution for customers.
- Divido: is a point of sale finance platform that enables merchants to offer their customers the option to spread the cost of purchase. Divido aggregates available credit from various financial institutional partners.
- Bloom: is a blockchain based customer identity and credit history system where users maintain full ownership and control of their data, reducing the risks of centralized data collection, storage and transmission.
- Beehive: Operates a P2P lending platform for SME's, including term loans, short-term invoice financing etc. It also offers a digital transactional engine and proprietary credit model and is regulated by Dubai Financial Service Authority.
- Payment Choice: is a POS solution programme that accepts cross-country prepaid cards and mobile wallets (including Alipay and WeChat Pay) and offers international clearing.
American Express Middle East will continue to provide support and exposure for the participating startups to aim at eventually working alongside the highly experienced digital and business innovation team within American Express Middle East, as well as helping them explore the region’s emerging fintech and start-ups ecosystem.
-Ends-
About American Express Middle East
About AMEX (Middle East) B.S.C.(c)
American Express began operations in the MENA region in 1959 and set up its first office in Bahrain in 1977. In 1992, AEME was established in Bahrain as a joint venture company owned by American Express and Mawarid Investment Limited. Today, American Express Middle East employs a very diverse workforce of more than 500 employees, covering its consumer card, corporate payments and merchant businesses across the Middle East and North Africa region.
AMEX Middle East is a payments company, providing customers with access to products, insights and experiences that enrich lives and build business across the Middle East and North Africa.
Learn more at www.americanexpress.com.bh and connect with us on www.facebook.com/AmericanExpressME
www.linkedin.com/company/AmericanExpressME
About Nest
Connect · Collaborate · Scale
Nest operates corporate accelerator programmemes, invests in startups and runs a global entrepreneurial community called Mettā.
Nest’s corporate innovation accelerator connects startups with corporates to create outcomes: for startups to scale and commercialise; for corporates to foster innovation and adopt new technologies.
Nest is headquartered in Hong Kong, with regional offices in Bangkok, Bahrain and Nairobi.
For further media information, please contact:
Samar AbdelHuq
PR Senior Account Director
Memac Ogilvy Public Relations
Tel: (+973) 17561716
Email: samar.abdelhuq@oglivy.com
© Press Release 2018Disclaimer: 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.
