back Back

Arab Bank concludes its first bootcamp for FinTech entrepreneurs in Egypt

By Edlyn Cardoza

December 06, 2021

  • AB Accelerator
  • Arab Bank
  • Egypt
Share

Arab Bank, FinTech, Bootcamp, Egypt, AB Accelerator, EMEAArab Bank Egypt has recently concluded the first edition of its FinTech bootcamp for Egyptian startups. The launch of this bootcamp comes in line with Arab Bank’s strategy to invest in entrepreneurs’ innovative technologies and enhance their skills by providing them with the necessary resources to keep pace with the latest trends in the financial industry, especially in light of the current FinTech revolution.

Through this initiative, Arab Bank offered an ideal opportunity for promising FinTech entrepreneurs in Egypt to present their emerging solutions to “AB Accelerator”, Arab Bank’s innovation hub, for a chance of integrating these solutions within the bank. It is worth noting that “AB Accelerator” is the FinTech-focused corporate accelerator of Arab Bank, which invests globally, with a focus on EMEA, in early-stage technology startups, whose business model provides innovation that can disrupt or expand the financial services industry.

The shortlisted startups enrolled in an intensive one-week bootcamp that took place between the 21st and the 25th of November 2021, through which they were able to develop their ideas and refine their skills by testing their proposed solutions and validating their relevance and feasibility in the market. The bootcamp workshops were led by entrepreneurs, investors, experts from the FinTech industry as well as Arab Bank Egypt, ensuring delivering the relevant experience and knowledge to the participants.

The bootcamp concluded with a demo day where startups pitched their solutions to a panel of judges comprised of Arab Bank senior management in addition to independent investors. Three winners were selected and received cash rewards to continue developing their ideas and building their solutions. Fawateerak received the first-place prize of EGP 100,000 while F-Mail received the second-place prize of EGP 75,000 and Vlens came in third with a EGP 50,000 prize.

Commenting on this initiative, Habiba Helmy, Innovation Lead at Arab Bank – Egypt, said: “The bootcamp focused on connecting entrepreneurs with relevant Arab Bank stakeholders to explore collaboration opportunities in addition to giving them hands on support through holding knowledge exchange sessions with mature entrepreneurs that have gone through similar journeys in their early days, particularly relating to the challenges and pains that less mature startups are experiencing.”

Helmy added: “We are very pleased with the success and outcome of the bootcamp and the enthusiasm demonstrated by the participants throughout. This reflects their commitment to developing their skills and growing their products through utilizing the resources provided to them at the bootcamp. These are the kind of prospect startups that we aspire to invest in and collaborate with at Arab Bank.”

It is worth mentioning that Arab Bank’s presence in Egypt started in 1944. Currently, the bank owns 44 branches located in main cities and governorates across Egypt. Arab Bank has one of the largest global Arab banking networks with over 600 branches spanning five continents.

Previous Article

December 06, 2021

Paymentology and Tutuka to form a new payment and card processing powerhouse

Read More
Next Article

December 06, 2021

LoanKuber raises INR 130m in a Pre-Series A funding round

Read More








IBSi Daily News Analysis

March 22, 2024

AB Accelerator

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 26, 2024

LHV Bank launches personal savings product on Hargreaves Lansdown

Read More

March 20, 2024

Smart money app Plum launches Cash ISA with 5.15% AER

Read More

March 15, 2024

Cheddar re-launches loyalty app with instant consumer savings in the UK

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023