New FinTech Bay launches in Jordan

FinTech Consortium, an incubator and ecosystem builder, has launched the Jordan FinTech Bay to support growth in the country.

The new organization will foster synergies among market players, including government bodies, financial institutions, corporates, investors and innovators.

Jordan FinTech Bay will offer advisory services, a venture and FinTech acceleration programme, research and publications, and a FinTech talent programme. Additionally, it will host activities including ones for blockchain, InsurTech and RegTech.

To support its goal of boosting FinTech, the Bay has formed strategic partnerships with the Ministry of Digital Economy & Entrepreneurship, the Crown Prince Foundation of Jordan, the innovative Startups and SMEs Fund, and the Jordan Payments and Clearing Company.

Mothanna Al-Gharaibeh, Jordan’s minister of digital economy and entrepreneurship said the launch of the FinTech Bay is one of the most important steps towards the digitalization of the economy.

FinTech Consortium founder and CEO Gerben Visser said, “Jordan FinTech Bay envisage to play a multi-faceted role in the development of the fintech enablement and positioning of Jordan as a regional fintech hub.

“This includes assisting in the execution of a range of comprehensive initiatives related to fintech talent development, venture acceleration, corporate incubation, enterprise acceleration programs, co-working and venture capital.”

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