5 FinTechs digitising ‘WealthTech’ ecosystem in UAE

By Delisha Fernandes

The UAE’s FinTech sector is booming, with a growing number of companies digitizing the ‘WealthTech’ ecosystem. Due to evolving FinTechs, the masses are better equipped to make informed financial investment decisions and be aware of the trends within the wealth allocation and management industry.

Changing demographics of advisors and investors, new asset classes, evolving business models, regulatory mandates, and intense competition characterize the Wealth Management and Private Banking industry. IBS Intelligence offers a broad spectrum of insights in the industry, ranging from thought leadership, and consulting engagements, to in-depth coverage of 30+ technology vendor profiles, their clients, and their implementation experiences.

Below listed are 5 FinTech platforms that help make financial investments seamless:

• Baraka

Baraka is an investment platform that empowers you to make informed and strategic long-term investment decisions. Access a comprehensive suite of products, innovative tools, and real-time market insights to build wealth aligned with your financial goals and values. Baraka is licensed and regulated by the Dubai Financial Services Authority (“DFSA”).

• Neo Mena Technologies

Neo Mena Technologies is a UAE-based financial technology services company with a focus on providing digital investment services to regulated entities within the GCC. Neo offers solutions directly to banks and other financial institutions, empowering them to better penetrate their retail customer base and strengthen the proposition for HNI’s.

• Sarwa

Sarwa is a UAE-based investing and personal finance platform. Whether you prefer a hands-off investment, real-time trading of stocks, ETFs, and cryptocurrencies, or you want to save and grow your cash by 3%, Sarwa is your one-stop shop. With Sarwa Invest, Trade, Crypto, and Save, all your investments are covered. It offers a simple user experience with no complicated financial jargon. The company is led by a team of financial and technology experts and is backed by top international funds.

• StashAway

StashAway is a regional investment platform offering investment portfolios and wealth management solutions for retail investors and high-net-worth individuals (HNWIs). StashAway operates in Singapore, Malaysia, the Middle East and North Africa, Hong Kong, and Thailand.

• Wally

Wally is an AI-powered personal finance platform that helps people track and manage their finances. It aims to help people simplify the complexities of their everyday finances with AI to make better decisions. Available in 70 countries, Wally connects with 15,000 banks, giving users a single place to automatically track their net worth, spending, and financial goals. WallyGPT takes people beyond the simple but rigid charts and graphs to get more insights and plan better through a conversational format.

ALSO READ: Wealth Management & Private Banking Systems Report Q2 2023