Dubai: National Bank of Fujairah (NBF) PJSC announced its partnership with Fintech Galaxy, the region’s well known fintech digital crowdsourcing platform. Recently the bank participated in MENA Fintech hackathon organised by Fintech Galaxy which brought together the region’s leading banks, regulators, industry experts and top Fintechs to assess and devise ready-made solutions to the ever-evolving Fintech industry. 

The event featured a competitive hackathon which tasked 25 shortlisted Fintechs from around the world to develop and showcase disruptive solutions to briefs brought forth by some of the participating banks. Fintechs which participated NBF’s challenge presented solutions for account aggregation and instant settlement and digitisation for the Murabaha process.

Sitting on the sidelines of the event, Devid Jegerson, NBF’s Head of Customer Experience and Platform said: “We are thrilled to be joining forces with Fintech Galaxy and in extending our financial and expert-led support. NBF is the first bank to connect to Fintech Galaxy’s sandbox environment which enables Fintechs to design innovative products for its clients. This Fintech hackathon has brought together some of the sharpest minds in the industry who have showcased their innovative and solutions-oriented approach to banking today. At NBF, we will continue to seize forward-thinking partnerships and opportunities that support our aim to ensure our banking platforms respond to our customers’ evolving personal and business needs.”

The participating Fintechs presented their ready-made solutions to key domains in the industry such as customer experience, credit ratings, payments, digital lending, smart contracts and trade finance to a judging panel of high-level executives from each of the financial institutions along with regulators and industry experts. Upon assessment NBF awarded the winners of the Hackathon of the NBF challenge.  In its commitment to be the best financial partner for clients, National Bank of Fujairah has always championed the use of knowledge-exchange platforms in an effort to examine and assess the shifting banking and business landscapes.

-Ends-

About National Bank of Fujairah PJSC: this is an old boilerplate
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shariah compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.

NBF's key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody's and BBB+ / A-2 by Standard & Poor's, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol "NBF". It has a branch network of 15 across the UAE.

For further information, please contact:
Corporate Communications Department
E-mail: CorpComm@nbf.ae
Telephone: +971 4 397 1700
Facsimile: +971 4 397 2371

© 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.