Latest news with #AlMudharreb
TECHx
2 days ago
- Business
- TECHx
RTA Hosts Fintech Symposium on Digital Payments
Home » Smart Sectors » Mobility » RTA Hosts Fintech Symposium on Digital Payments Dubai's Roads and Transport Authority (RTA) announced the successful hosting of a fintech symposium focused on digital finance and seamless payments. The event revolved around the theme 'RTA Fintech Beyond Mobility.' It brought together key leaders from the Central Bank, finance, technology, and mobility sectors. RTA revealed that the symposium highlighted the growing connection between fintech and mobility. It reinforced the authority's commitment to building a smart, customer-focused, and seamless transportation ecosystem. Mohammed Yousuf Al Mudharreb, CEO of RTA's Corporate Support Technology Services Sector, delivered the opening address. He welcomed guests from major financial institutions and fintech firms. Al Mudharreb stated that RTA is focused on innovation at the intersection of technology, finance, and transport. He added that their goal is to create an intelligent, cashless mobility system aligned with Dubai's broader digital and AI strategies. The event also featured several key presentations and discussions: Salahaldeen Mohamed Al Marzooqi presented nol card's transition from Card Based Ticketing (CBT) to Account Based Ticketing (ABT). Paul Kayrouz, Chief Fintech Officer at the Central Bank of the UAE, reported on initiatives supporting the UAE's cashless economy and fintech ecosystem. Jan Pilbauer, CEO of Al Etihad Payments, shared insights on the UAE's payment transformation. He discussed the domestic card scheme Jaywan and the instant payment platform Aani. Mohammed Ali Yusuf, CEO of Fuze, explored the role of stablecoins and Central Bank Digital Currencies (CBDCs) in the evolving digital payment ecosystem. The event also included a panel discussion on building successful fintech and digital banks. The panel was moderated by fintech expert Shafique Ibrahim. Participants included Hasan Al Fardan, CEO of Al Fardan Group, Wael Fakharany, CEO of Edenred, and Mohammed Yusuf. They shared their views on driving innovation and growth in the fintech and digital banking space. The symposium concluded with a guided tour of the RTA nol Digital Payment Excellence Centre for distinguished guests. RTA reiterated its commitment to advancing digital finance and building a future-ready fintech environment.
Khaleej Times
21-04-2025
- Automotive
- Khaleej Times
Dubai: New platform to rank motorists on risky driving using accidents, fines history
A new platform has been developed that calculates Dubai drivers' scores based on their accidents, fines and black points profile by using artificial intelligence (AI) and big data. Created by Dubai's Roads and Transport Authority (RTA), the programme is currently under trial run and the decision to roll it out for the public will be taken later. Named Driver Risk Score, the new solution will help analyse and enhance risky drivers' behaviour. Mohammed AlMudharreb, executive director of the Corporate Technical Support Services Sector and CAIO, RTA, said this solution has been developed by integrating various inputs within the organisation through the big data platform. 'Drivers can put in Emirates ID and driving licence and the solution will tell you how risky you (driver) are as an individual, looking at your behaviour, traffic fines, and various elements that will define the score. This will be beneficial for car insurance companies,' AlMudharreb said during a panel discussion at the Dubai AI Week on Monday. 'These scores are calculated based on three factors — traffic accidents, fines and black points. Based on these, we calculate the score of each driver into three categories — low, medium and high risk. By analysing this, we can focus on a specific group of people who are more risky and require more training. This will help us enhance risky drivers' behaviour by providing them with more training lessons,' said the official at the RTA kiosk, showcasing the solution at the Dubai AI Week. Dubai has seen a major increase in traffic due to an increase in population, reaching 3.926 million. The number of Salik-registered vehicles in Dubai also increased from 4.013 million in 2023 to 4.382 million in 2024. Authorities in Dubai and UAE launch initiatives and awareness campaigns time and again for the safety of motorists and pedestrians and to reduce accidents. The RTA solution is currently used internally but could be monetised in the future. 'For example, insurance companies can use it and price the premiums based on the behaviour of each driver,' said the official, adding that the score will also help in reducing the number of traffic violations and accidents. 'We can target people based on the age group by providing more lessons because a risky driver could be a younger person. This is one of the main objectives,' he said.
