Emirates Post Group to launch fintech arm ‘FINTX’ at Gitex
Emirates Post Group has 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 present to the public its new strategy, its services, and its ambitions for the future.
The new company is focused on establishing an improved and efficient fintech ecosystem by transforming its existing financial services companies, in addition to launching new ventures with compelling product offerings and forming strategic partnerships with established companies and start-ups.
FINTX will own, oversee and transform the existing financial services businesses of Emirates Post Group, which includes Wall Street Exchange Center LLC and Instant Cash FZE. Wall Street Exchange Center LLC is an exchange house in the United Arab Emirates established since 1982, and Instant Cash FZE is a global money transfer operator established since 2004.
As an incubator
Ahmed Mohamed Al Awadi, Managing Director and CEO of FINTX, said, “FINTX will act as an incubator for fintech innovation. Through the newly created company, we aim to create a one-of-a-kind fintech ecosystem and elevate the diversity and quality of financial services provided by the existing companies we oversee and the new ventures we create. We intend to leverage our strong client base and extensive financial experience spanning decades across our extensive local and international network, to ensure business success.
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 effective fintech ecosystem and provide a suitable framework for the synergy of all types of fintech services. It will also provide a platform for investors, licensees and innovators to collaborate and create the digital financial services of the future, for the UAE and beyond.– TradeArabia Press Office