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Five new start-ups that are set to bolster DIFC's standing as a global hub for fintech innovation
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1. Amani: Ticking off a several tech trends, this cloud-based, blockchain-enabled platform uses machine learning to reduce non-compliance in the financial sector. It uses pattern recognition, image processing algorithms, optical character recognition, biometric recognition and partner data.
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2. Regulation Technology Solutions: The company started in 2017 as a collaboration between University College of London, law firm Clyde & Co and the UK’s Financial Conduct Authority. It is a service provider that specialises in automated regulation, with a mission to develop a one-stop shop for regulatory advice and reporting.
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3. Virtual i: This company offers technology-enabled risk and claims assessment services to the insurance industry by automating the process of data collection and analysis and the production of assessment reports. During the Dubai World Insurance Congress, it was awarded “The Next Generation in InsurTech” Award out of five start-ups.
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4. AtCash: A distributed-ledger driven company that is able to turn paper cash into digital cash, AtCash wants to provide unbanked individuals around the world with an alternative to paper cash – which
also offers banks an authentication layer. It sees electronic financial transactions as a global human right.
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5. Bizness Analytics Technologies: Pretty much what you’d expect given their name, this company utilises big data research, advanced data analytics and data pipeline integration to help companies better understand the data they harvest – which is often left unsorted or under-analysed. It provides a full service no matter the operating environment.