Emirates Post Group launches its fintech arm ‘Fintx’ – News
New company to participate in Gitex to demonstrate its financial capabilities and ambitions for the future
Ahmed Mohamed Al Awadi, Managing Director and CEO of Fintx, said that Fintx will act as an incubator for fintech innovation.
Emirates Post Group announced that it will launch its new fintech arm ‘Fintx’ during Gitex Global 2022, which will be held in Dubai from 10-14 October. During Gitex, the new company will show the public its new strategy, services and ambitions for the future.
The new company is focused on establishing an improved and efficient fintech ecosystem by transforming its existing financial services companies, as well as launching new ventures with compelling product offerings and building strategic partnerships with established companies and start-ups.
Fintx will own, oversee and transform the existing financial services companies of the Emirates Post Group, which include Wall Street Exchange Center LLC and Instant Cash FZE. Wall Street Exchange Center LLC is an exchange house in the UAE established since 1982, and Instant Cash FZE is a global money transfer operator established since 2004.
Ahmed Mohamed Al Awadi, Managing Director and CEO of Fintx, said: “Fintx will act as an incubator for fintech innovation. Through the newly established company, we aim to create a unique fintech ecosystem and raise the diversity and quality of the financial the services offered by the existing companies we monitor and new ventures we create We intend to leverage our robust client base and the extensive experience of financial expertise spanning decades across our broad local and international network to drive the success of the company.”
Fintx is expected to further diversify Emirates Post Group’s portfolio by expanding its footprint within the fintech industry. The new company will focus on building an efficient fintech ecosystem as well as providing a suitable framework for the synergy between all types of financial technology services. It will also provide a platform for investors, incumbents and innovators to collaborate and create the digital financial services of the future, for the UAE and beyond.
