United Fintech, the financial technology company headed by Christian Frahm, has announced the opening of its new office in the Dubai International Financial Centre (DIFC). This expansion into the UAE is a response to the market demand for financial technology and underscores the country's critical role as a hub for fintech innovation.
United Fintech Expands Global Presence into UAE
As an industry-neutral digital transformation platform, United Fintech enables banks and financial institutions to accelerate access to innovative fintechs specializing in capital markets. The company's mission is to drive digital innovation, offer transformative solutions, and enhance the capabilities of financial institutions worldwide.
"Expanding into the DIFC marks a strategic advancement for United Fintech, broadening the global footprint of our industry-neutral Digital Transformation platform and meeting the growing demands of the financial services industry,” Christian Frahm, the CEO of United Fintech, commented.
Rasmus Bagger, the CCO of United Fintech, will be responsible for the Dubai office overall. The fintech company entered Middle East when the financial technology industry has experienced a global slowdown, but in the UAE, it has seen a 92% surge.
"This is a significant opportunity for United Fintech and we are excited about growing our client base and team in the region and playing a major role in connecting Financial Institutions with cutting-edge technology providers, all under a single platform,” Bagger commented.
At the beginning of this month, United Fintech announced that Danske Bank had joined its institutional investors, following earlier support from BNP Paribas and Citigroup.
Early Successes in UAE
United Fintech's establishment in the DIFC has garnered interest from across the region, particularly for its partner company Athena, known for its full front-to-back Order Management System (OMS) and Portfolio Management System (PMS) solution.
This OMS/PMS solution provides a complete platform for investment managers, supporting various functions from decision-making to trade execution and post-trade processing.
"United Fintech's establishment in the DIFC is significantly broadening Athena's horizons, enhancing our ability to extend our services to drive technical transformation and enhance the operating models of asset managers and hedge funds in the region,” commented Raj Rathor, the Head of EMEA Sales at Athena.
Founded in 2020, United Fintech has grown to employ over 160 people across eight countries, including the UK, Denmark, Spain, and the USA.
This article was written by Damian Chmiel at www.financemagnates.com.