Drivers of innovation in financial services

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Financial services today faces ongoing disruption from new industry practices and technologies, in addition to new market players solely intent on disrupting industry norms

Innovation in the financial industry has become more important than ever with the continuous and fast pace of disruption in the industry pushing all players to find new ways of doing business. FinTech has been a cornerstone for the financial innovation in recent years, introducing a growing range of new technologies that enable new business models, applications, processes or products.

DIFC has been catalyst for driving change through innovation in the financial industry, successfully bolstering its position as the leading finance and innovation hub in the region. The Centre provides a world-class comprehensive innovation ecosystem, the largest start-up ecosystem in the region. The DIFC Innovation Hub hosts the most diverse community of start-ups, growth stage businesses and global unicorns, bringing them together with venture studios, financial institutions and other partners, offering ready access to the capital, talent and other resources that such enterprises need to succeed.

The “Drivers of innovation in financial services” report is the second in a series of reports covering recent trends emerging in Dubai’s financial industry, a collaboration between DIFC and Refinitiv, a London Stock Exchange Group business. The report provides an overview of innovation in the financial industry, and insights on new financial innovations that will shape the industry in the next five years. It also outlines DIFC’s value proposition as a gateway to the MEASA region and as a regional hub for financial innovation.

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