Emirates NBD partners with Nasscom to drive cross-border FinTech innovation between the UAE and India - Middle East Business News and Information
Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, signed a Memorandum of Understanding (MoU) with Nasscom, the premier trade association for the technology industry in India, to strengthen cross-border FinTech and technology innovation between the UAE and India. Signed at the Dubai FinTech Summit, the MoU underscores Emirates NBD's commitment to transform the region's digital banking sector by leveraging India's burgeoning FinTech ecosystem, projected to reach USD 1.5 trillion.
As bilateral trade between the UAE and India continues to strengthen, climbing to USD 83.6 billion in FY2023-2024, this strategic collaboration will create a robust ecosystem to facilitate the scouting and onboarding of high-potential FinTech companies from India into the UAE market, while fostering joint research and knowledge sharing to drive innovation within the financial services sector. These innovations will result in enhanced digital banking capabilities, faster service delivery, improved personalisation and cost efficiencies that benefit Emirates NBD's retail and corporate customers.
Miguel Rio-Tinto, Group Chief Digital and Information Officer at Emirates NBD, said: 'Our partnership with Nasscom is a pivotal step in Emirates NBD's journey to advance FinTech innovation. By forging a digital bridge between the UAE and India, we are poised to unlock a wealth of cutting-edge solutions that will enhance our customer experiences and drive the future of financial services. We are excited to collaborate with Nasscom and leverage the immense potential of the Indian FinTech ecosystem to unlock even greater value for our customers.'
Rajesh Nambiar, President, Nasscom, said: 'This partnership between Nasscom and Emirates NBD marks a significant milestone in deepening cross-border collaboration between two of the world's most dynamic innovation ecosystems. By combining India's vibrant FinTech capabilities with the UAE's forward-looking financial landscape, we are setting the stage for a new era of co-innovation, digital transformation and inclusive growth.'
With the UAE FinTech market forecast to reach USD 6.43 billion by 2030, this partnership positions Emirates NBD to capitalise on expanding opportunities within the region.
By collaborating with Nasscom, Emirates NBD is leveraging expertise within the Indian FinTech landscape to accelerate the adoption of transformative financial technologies. It reflects Emirates NBD's ongoing commitment to innovation and its role as a key enabler of the UAE's digital future.
About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
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