Emirates Post Group announced that it will launch its new fintech arm ‘FINTX’ during GITEX Global 2022, which will be held in Dubai from October 10-14. During GITEX, the new company will showcase to the public its new strategy, services, and ambitions for the future.
The new company is focused on establishing an enhanced and effective fintech eco-system through transforming its existing financial services companies, in addition to launching new ventures with compelling product offerings and building strategic partnerships with established companies and start-ups.
FINTX will own, oversee, and transform the existing financial services companies of Emirates Post Group, which includes Wall Street Exchange Centre LLC, and Instant Cash FZE. Wall Street Exchange Centre LLC is an exchange house in the UAE established since 1982, and Instant Cash FZE is a global money transfer operator established since 2004.
Ahmed Mohamed Al Awadi, Managing Director and CEO of FINTX said: “FINTX will act as an incubator for fintech innovation. Through the newly established company, we aim to create a one-of-a-kind fintech eco-system and elevate the diversity and quality of the financial services provided by the existing companies we oversee, and new ventures we create. We intend to leverage our robust customer base and the extensive record of financial expertise spanning decades across our wide local and international network, to drive the success of the company.”
FINTX is further expected to diversify Emirates Post Group’s portfolio by expanding its footprint within the fintech industry. The new company will focus on building an efficient fintech eco-system as well as provide a suitable setting for the synergy of all types of financial technology services. It will also provide a platform for investors, incumbents, and innovators to collaborate and create the digital financial services of the future, for the UAE and beyond.