Fintech companies in the Middle East are rapidly transforming the financial landscape, compelling traditional banks to innovate and adapt. In the first quarter of 2025, fintech ventures accounted for nearly 60% of all venture capital raised in the Middle East and North Africa region. These startups are capturing market share in areas like remittances, credit cards, and deposits by offering more streamlined and customer-centric services. In response, established banks are investing in technology and launching dedicated fintech subsidiaries to remain competitive. Experts predict that fintech could claim up to 10% of banking revenues in the coming years.

Source: AGBI