Enhanced Metaverse Customer Experience with Emirates NBD and DIFC Launch Accelerator Program

Emirates NBDa banking group in the MENAT region (Middle East, North Africa and Turkey), has launched a global accelerator program for metaverse start-ups to improve the customer experience for the new virtual economy, in partnership with the Dubai International Financial Center (DIFC) Fintech Hive, the largest financial technology center in the Middle East, Africa and South Asia (MEASA) region, and powered by a technology provider Microsoft.

Marking Emirates NBD’s first play in the Metaverse, the accelerator program positions the bank as a leader in the next phase of banking innovation in alignment with Dubai’s Metaverse strategy to place Dubai in the top ten metaverse economies around the world, supporting over 40,000 virtual jobs by 2030 and adding $4 billion to Dubai’s economy in five years.

With 94% of all financial transactions and inquiries occurring outside of branches, the bank is exploring new technologies in the Web 3.0 world to expand its digital footprint and create immersive experiences for our customers.

Emirates NBD is looking for fintech, digital experience start-ups and emerging technology players operating in the metaverse landscape to enhance its immersion in the virtual world in three key areas: building the technology stack to facilitate the move to 3D, create virtual worlds to augment customer experience in the metaverse and enable a decentralized payment infrastructure for customers to create, monetize, buy and sell digital assets and services.

During a ten-week acceleration program, the DIFC Fintech Hive will assess and match Emirates NBD with leading start-ups offering unique propositions on the value creation, experience and technology stack required for the metaverse. This will end with a demonstration day at GITEX where shortlisted participants will showcase their solutions for an opportunity to co-create engaging experiences for our customers in the new reality.

Commenting on the launch, Marwan Hadi, Executive Vice President and Head of Retail Banking at Emirates NBD, said: “Attracting innovative start-ups is crucial to Dubai’s ambition to be an international leader in the metaverse. As the region’s banking industry leader, Emirates NBD has always been at the forefront of digital innovation, seeking to experiment and partner with tech start-ups that can help us accelerate our journey. of transformation and to develop solutions that optimize the customer experience. With our entry into the Metaverse, we seek to reinvent financial services using extended reality and create compelling new propositions for our clients in the new Metaverse economy.

Miguel Rio TintoGroup Chief Information Officer at Emirates NBD, said: “As a bank that has always been at the forefront of adopting emerging technologies, see unique opportunities to reinvent financial services, including virtualizing customer interactions and providing financial services to the creator economy by enabling new products and marketplaces.With support from DIFC FinTech Hive and Microsoft, Emirates NBD looks forward to becoming a launch pad for innovative financial services in the metaverse, playing an active role in co-creating new experiences for our clients with innovative start-ups around the world.”

Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive, said: “We are delighted to partner with Emirates NBD to launch the global accelerator program for metaverse start-ups, which are experiencing rapid growth and growing interest around the world. entire. This milestone reaffirms our commitment to supporting Dubai’s ambition to be among the top ten metaverse economies in the world. At DIFC Fintech Hive, we continue to embrace the latest technologies to keep pace with the growing pace of the global digital space.

“In the metaverse, where the physical and digital worlds come together to create an entirely new platform layer, we have an exciting opportunity to create transformative solutions that completely revolutionize consumer journeys and experiences,” said Naim Yazbeck, Managing Director of Microsoft UAE: “Innovative technology start-ups are playing a crucial role in this reinvention, bringing creative and unique perspectives to designing an entirely new world. We recognize the impact startups can have when armed with next-generation technologies that bring their ideas to life, and we look forward to working with these innovators and helping them realize this potential during the program.

  • Francis Bignel

    Francis is a journalist with a bachelor’s degree in classical civilization, he is particularly interested in North and South America.

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