Arab Bank Launches Fintech-Focused Accelerator In Egypt

Arab Bank has launched its fintech-focused corporate accelerator programme “AB Accelerator” in Egypt, following its successful rollout in Jordan in 2018.

According to Arab Bank, the launch of this programme in Egypt comes as part of its strategic efforts to foster and support innovation in the fintech sector towards offering responsive and agile banking solutions in line with the evolving needs and expectations of clients across different segments.

The AB Accelerator programme aims to accelerate the adoption of emerging technologies and solutions within the Arab Bank and support entrepreneurs with the opportunity to scale their market-ready fintech startups across the MENA region.

It works to integrate into Egypt’s startup scene through investing in early-stage startups specialized in fintech as well as other related technology verticals, such as cybersecurity and artificial intelligence (AI), with a focus on startups that demonstrate strategic alignment with Arab Bank.

Hala Zahran, lead of AB Accelerator said: “AB Accelerator provides early-stage startups with banking and commercial collaboration that not only helps them gain credibility and validate their product, but also allows them to instantaneously tap into multiple geographies.”

Arab bank noted that the selected startups will receive funding of up to US$500,000, and also be entitled to a host of benefits, including creating a customized Proof of Concept to test solutions which could potentially lead to a pilot agreement with the bank, as well as instantly accessing customers and markets across Arab Bank’s regional and global network.