The United Arab Emirates is witnessing an unprecedented surge in its investment technology market, with a value surpassing $127.7 million by the end of 2022, almost sevenfold higher than in 2020. A recent report by UnaFinancial, a global fintech group, attributes this growth to the country’s enhanced investment climate, bolstered by significant company listings and comprehensive economic diversification initiatives.
The investment technology sector in the UAE, which focuses on leveraging technology to simplify investing, is projected to grow by 145 percent over the next two years. This growth trajectory is supported by the UAE’s strategic measures to attract foreign investment as a key component of its long-term economic development plans. Enhanced living standards and accelerated digitalization are also contributing factors to this trend.
“The UAE is rapidly transforming into a hub for digital finance, driven by supportive government policies and a thriving financial sector,” said a spokesperson from UnaFinancial. “The integration of online brokerage platforms and investment management apps is making investment more accessible to everyone.”
The sector’s volume of investments is expected to reach close to $325 million by 2025, with the number of companies in the sector estimated to surge to 386 from 294. The growth of living standards in the UAE, coupled with increased availability of work and resident visas, further enhances the country’s attractiveness for foreign and private investment. Notably, Abu Dhabi’s quality of life index has seen a remarkable 60-point rise in just one year, as reported by Numbeo.
UnaFinancial is poised to contribute significantly to this sector’s growth with the upcoming launch of a digital finance app in the UAE. The app will encompass a comprehensive online investment platform, facilitating trading in various asset classes like equities, forex, bonds, commodities, and derivatives. This launch marks UnaFinancial’s first product in the Middle East, complementing its portfolio of fintech services developed in Asia and Europe since 2015.
“We are excited to introduce our digital finance app, a testament to our commitment to enhancing the investment landscape in the UAE,” added the spokesperson. “This app is a step forward in our mission to democratize financial services, making them more accessible, efficient, and user-friendly.”
With plans to raise up to $15 million for the app’s launch, UnaFinancial is set to further enhance the digital financial ecosystem in the UAE, offering innovative solutions backed by AI-based technologies and comprehensive risk management systems.
As we observe the burgeoning fintech scene in the UAE, particularly with initiatives like UnaFinancial’s app launch, it’s evident that the right technological partnership can elevate such ventures to new heights. This is where entities like Digital Gravity, known for their prowess in app development and digital solutions, come into play.
While not directly involved in the financial sector, Digital Gravity’s expertise in creating user-friendly, efficient digital platforms can be a valuable asset for fintech firms in the UAE looking to develop and launch apps akin to UnaFinancial’s. Their subtle yet significant contribution to the digital landscape highlights the importance of robust and innovative app development in the fintech industry.
