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additiv expands Middle East presence with new office in Dubai

By Delisha Fernandes

March 01, 2024

  • Additiv
  • digital literacy
  • fintech MENA
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additiv, digital literacy, wealth management, insurance solutions, super apps, retailers, FinTech news, FinTech MENA

additiv, a global FinTech and embedded finance provider, has expanded its presence in Dubai, UAE, by opening a new, fully operational office.

In addition to bolstering its executive team on the ground, additiv reiterates its commitment to hire key personnel from the local market across research and development, customer delivery and sales to ensure the continued implementation of industry-leading wealth, credit and insurance solutions and fulfill the growing ambitions of its customers and partners.

Thomas Schornstein, General Manager Middle East/Africa at additiv said, “Dubai stands out as a premier global fintech hub, renowned for its clear regulatory frameworks designed to attract foreign investment and promote innovation. This environment enables fintech firms to flourish, contributing to job creation and economic expansion. Our commitment to the region is unwavering, with continuous investment in our local operations and the recruitment of regional talent. This approach ensures we provide best-in-class technology combined with strategic advice in financial service to our clients and partners across the Middle East.”

Operating in Dubai since 2020, additiv recognizes the Middle East as a key market and driver of its future growth. The company chose the DIFC Innovation Hub as the location of its regional headquarters due to its reputation as one of the world’s most advanced financial centers as well as one of the largest innovation communities in the region. This strategic move further solidifies additiv’s ongoing commitment to enhance its presence in this vibrant market.

Niraj Naetsawan, Country Head UAE at additiv added, “I am delighted with the opening of our new office at the Innovation Hub One, DIFC. The case for embedded finance in wealth management throughout the Middle East has never been clearer. With a rapidly expanding mass affluent and middle-class population, enhanced digital proficiency, and significant wealth transfer activities, there’s a pronounced need for innovative business models in financial service delivery. Our strategy includes increasing our investment in the Middle East, expanding our operations and workforce to guarantee the sustained provision of outstanding service across UAE, Saudi Arabia, Qatar, and other rapidly developing markets in the region.”

The recently inaugurated additiv office is set to function as a regional hub, empowering both financial and non-financial institutions to leverage digital innovation for transforming their business models. By embedding new wealth, credit, and insurance solutions into their existing portfolios or new distribution channels, these institutions can significantly enhance their offerings.

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