ADX participated as a platinum partner in the event and as a major partner in the “Innovation Challenge”, which is one of the most prominent events during FinTech. This event brought together the most disruptive emerging and scaling talent and startups to address the key challenges identified by corporates. During the event, 16 topics were discussed and presented in order to help find innovative solutions to the various challenges facing financial technology for enterprises across the country and the region.
On the second day of FinTech H.E. Khalifa Salem Al Mansouri, Acting Chief Executive of ADX, participated in a Youth Circles session named “Empowering UAE’s Youth to embrace FinTech Opportunities”.
His Excellency highlighted during the session on the pivotal role that youth play in promoting digital acceleration programs in the financial markets, which led ADX to engage with them in active partnerships with scientific institutions and research programs specialized in the financial and investment sector. These partnership programs aim to promote the growth of capital markets in the UAE with these young resources more involved in order to create national competencies to enable the market on achieving its objectives.
H.E. also added: “The digital acceleration demonstrated by the best and the brightest innovators in start-ups enable sustained financial performance, developing improved market mechanics and information flow and driving growth. ADX was extremely engaged by the impressive and disruptive pioneering solutions presented to solve existing and upcoming challenges.”
ADX has previously signed various MoUs with academic entities and employs partnerships to further its FinTech, including the Zayed Center of Excellence for Financial Research at the Higher Colleges of Technology (HCT) Abu Dhabi Women’s campus. The initiative collaborates with HCT on research including finance-related data analytics, financial technology services, artificial intelligence, blockchain, data management investment research and much more. In addition, and to raise awareness on the subject of financial literacy amongst university and high school students, ADX runs competitions on financial research and visits of students are frequently organized at the Exchange.
ADX’s growing interaction with FinTech Abu Dhabi and other financial technology events is a response to the rapidly evolving effects of these technologies and their attractiveness to investments locally and globally. This goes in line with the market strategy to accelerate digital transformation.
ADX’s flagship digital products on display at FinTech Abu Dhabi 2019 included its Digital Wallet powered by Payit and a new digital platform (Sahmi). These digital solutions deepen the Exchange’s e-services and investment engineering while advancing its status as one of the most advanced and smart digital exchanges in the MENA region. As recently demonstrated by the introduction of innovative products such as lending opportunity engines to provide counsel for various investment activities, Artificial Intelligence has begun to emerge as the most interesting area of innovation. Arqam, ADX’s Artificial Intelligence platform also on display at the event, reflects this move.
ADX was one of the first Exchanges to use FinTech, including through unique advances in Blockchain technology in 2016 and the Extensible Business Reporting Language (XBRL) in 2013. The Exchange has a focus to reinforce FinTech innovations in the coming years in order to advance its status as a leading regional exchange and a global pioneer.