Using AnyVision’s facial recognition technologies, the bank can let customers open a bank account online without having to come to the bank personally, Ronen Yochpaz, a vice president at the bank said
The study also said there is still "substantial" white space for the Islamic finance industry to develop, in particular through a closer alignment to the United Nation's Sustainable Development Goals (SDGs) and broadening access to private
It is still at a very nascent stage, but with 86 per cent of adults in the region remaining unbanked and with some of the highest mobile penetration rates in the world, the Middle East market is ripe for testing and scaling these new technologies.
While total investment in fintech companies worldwide in H1 2018 hit US$57.9 billion across 875 deals, the $2 billion fintech market in the MENA region has only seen $150 million in investments in the last couple of years.
Explaining the idea behind starting up a new bank in what is today a heavily over-banked region, its deputy CEO Daniel Gould tells GTR that AGTB is “not like any other trade bank in the Middle East or the world”.
Turkey is often called as a newly industrialized country by economists and political scientists, while the World Bank classified it as an upper-middle income country in terms of the country's per capita GDP in 2007.
Digital-only banks, fintechs and big tech companies are quietly gaining customers, while incumbents struggle to make strategic investments in their digital future
There were venture capitalists, entrepreneurs, government officials and mind-blowing medical diagnostics displays.