A report titled “Financial Technology 2025,” published by Emirates NBD and PricewaterhouseCoopers, one of the four largest accounting firms globally, projects that the value of the fintech market in the UAE will increase from $3.16 billion (AED 11.6 billion) in 2024 to $5.71 billion (AED 21 billion) by 2029. This growth highlights the rising confidence among consumers and businesses in digital solutions.
The report emphasizes the UAE’s leadership in the fintech sector within the region, noting that 89% of consumers in the country currently utilize fully digital bank accounts, showcasing the rapid adoption of technology by society.
Several key factors drive this momentum in the fintech sector, including widespread consumer adoption, strong investor confidence, and robust public-private partnerships that serve as a foundation for development.
The document also underscores the crucial role of artificial intelligence in transforming the financial landscape, citing its potential to enhance personalization, improve compliance, and advance risk management within financial services.
Furthermore, it highlights that the UAE is at the forefront of adopting these technologies, with financial institutions leveraging them to enhance efficiency, governance, and growth. Neeraj Makin, Head of Strategy, Analytics, and Venture Capital at Emirates NBD, stated, “Fintech funding in the UAE, which reached $265 million in 2024, reflects strong confidence from investors.”