4 FinTech mobile apps facilitating digital banking services in Middle East

By Delisha Fernandes

There are significant growth opportunities for the FinTech mobile app development sector due to the adoption of mobile phones and technology applications in the Middle East countries like UAE, Saudi Arabia and Kuwait.

According to Statista, smartphone subscriptions in the Middle East and North Africa will reach nearly 797 million by 2028. There were almost 559 million smartphone subscriptions in the Middle East and North Africa as of 2022. Overall, the app development industry in Middle East is progressing rapidly with high-speed internet access and growing mobile app usage.

The users of these mobile banking applications can now pay their bills online, keep track of their credit or withdrawals, apply for instant personal loans, make investments online, and use many other digital banking services.

Here are 4 FinTech mobile apps facilitating digital banking services in Middle East:

• Al Ansari Exchange mobile app

Al Ansari Exchange, an exchange company in the UAE. The company boasts a network of over 200 branches, employing over 3000 multi-lingual staff who cater to millions of customers with fast, reliable, and efficient service at very competitive charges. With the Al Ansari Exchange mobile app, sending money online, anytime, and anywhere, is now simpler, faster and more secure. Customers can choose from multiple payment options and benefit from the best exchange rates for transferring money along with many other advanced features.

• Money Fellows

Money Fellows is an advanced digital money-circles mobile application with more than 4 million trusted users. The app digitized the age-old money circles concept into a modern, user-friendly mobile app that makes sure financial well-being is always intact. Whether your goal is to buy or to save-up, you will find a money circle for it with the highest returns on your savings.

• myfawry App

Fawry is an Egyptian digital transformation & FinTech platform that enhances the concept of Omni channel payment in Africa and the Middle East. It offers more than 1,186 financial services to consumers and businesses through more than 225 thousand locations in an easy way to pay bills and other services in multiple channels (online, using ATMs, mobile wallets, and retail points) With myfawry mobile app, all Fawry payment services are just a tap away.

• valU

valU is a FinTech platform offering customers and businesses convenient and comprehensive financial solutions. The platforms Buy-Now, Pay-Later (BNPL) solution provides customizable financing plans for up to 60 months across more than 5,000 points of sale and over 600 websites covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others.