Astra Tech’s Quantix Secures Landmark $500 Million Financing from Citi, the Largest UAE Fintech Deal to Date
Abu Dhabi, UAE: 11 December 2024 – Quantix Technology Projects LLC, a subsidiary of Astra Tech, the leading fintech company based in Abu Dhabi, announced today that it has secured a substantial $500 million asset-backed securitization financing from Citi to support its CashNow consumer lending platform.
Dubai, UAE; 12 December 2024: Pathfinder Global, a leading innovator in AI-driven retail intelligence, highlights the top retail trends expected to shape the GCC market in 2025. These predictions highlight key drivers and emerging themes in the region’s evolving retail landscape.
The GCC’s retail sector is entering 2025 with significant momentum, boosted by a rising population, a growing number of high-net-worth individuals (HNWIs), strong business confidence and ongoing economic diversification initiatives. In 2024, consumer spending in the UAE alone surged by 4.8% year-on-year in Q3, reaching $3.7 billion, according to NielsenIQ. Saudi Arabia is similarly poised for expansion, with the hyperlocal retail market expected to contribute $13.5 billion (SAR 50 billion) to its non-oil GDP by 2030, as outlined by recent market studies.
UAE’s first paperless direct debit marketplace initiates ambitious expansion plans
December 12,2024 : Dubai, UAE: Direct Debit System, the UAE’s first paperless direct debit marketplace, has launched the first phase of its ambitious overseas expansion plans with the acquisition of UK-regulated company, ElseWare Ltd. The move counters the traditional trend of technology transfer from West to East, as the home-grown UAE fintech firm expands its product range into an established international marketplace.
Elaine Jones, Chairman of Direct Debit System
ElseWare Ltd has been a software provider in the UK’s BACS marketplace for almost 30 years. Through its core product, Front2BAX, customers can make and collect paperless direct debits and autogenerate payments if required. Direct Debit System’s acquisition of ElseWare is a strategic move on the back of the introduction of the UAE’s instant payment platform, Aani, to diversify into territories that have similar regulated instant payment solutions.
Continue reading Direct Debit System acquires UK-regulated ElseWare in East-to-West technology transferRussell Saunders, Chair of ElseWare
Report highlights IT department’s strategic influence and a purpose-driven approach to cloud and AI adoption
Dubai, December 11, 2024 — Genetec Inc. (“Genetec”), the global leader in enterprise physical security software, today shared the results of its 2025 State of the Physical Security Report.
Based on insights from more than 600 physical security leaders, including end users, channel partners, systems integrators, and consultants based in the Middle East, Turkey and Africa (MEA) markets, the report offers a comprehensive analysis of evolving trends in physical security operations.
لتطوير حلول الحوسبة السحابية والأمن السيبراني للشركات والحكومات
زين تك وأوراكل تتعاونان لدفع عجلة التحول الرقمي في منطقة الشرق الأوسط وشمال أفريقيا
دبي، الإمارات العربية المتحدة – 9 ديسمبر 2024: أعلنت زين تك، مزود الحلول الرقمية المتكاملة التابعة لمجموعة زين وعضو في شبكة شركاء أوراكل (OPN)، عن توقيعها مذكرة تفاهم مع شركة أوراكل، بهدف الاستفادة مما تمتلكه الشركتان من نقاط قوة للعمل على تسريع عملية التحول الرقمي للشركات والجهات الحكومية في منطقة الشرق الأوسط وشمال أفريقيا.
حيث تؤسس هذه الشراكة لمرحلة جديدة من التعاون المستقبلي لتقديم خدمات الحوسبة السحابية، والحلول الرقمية المتطورة، والاستشارات التقنية التي تدعم عمليات تطوير الأعمال وعمليات القطاع العام. حيث ستلتزم الشركتان بتسهيل تبني التقنيات الحديثة وتحسين البنية التحتية الرقمية، بما يسهم في تعزيز النمو المستدام والتنافسية في المنطقة.
Continue reading لتطوير حلول الحوسبة السحابية والأمن السيبراني للشركات والحكومات
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