Zand bank and Paymentology announce partnership to accelerate fintech growth in the UAE

Paymentology has signed a referral partnership with Zand Bank, the UAE’s first fully licenced, all-digital bank. This collaboration focuses on expanding financial services for fintechs and startups, aiming to accelerate innovation and growth in the UAE. Since 2022, Zand Bank has empowered UAE and global corporate, institutional and wealth clients to unlock new opportunities, foster sustainable growth and drive positive impacts in the digital economy.

Through this partnership, Paymentology and Zand will enable fintechs to thrive by offering a range of specialised services, including BIN-sponsorship, virtual IBANs, and Client Money Accounts. These services are designed to help fintechs launch and scale faster, providing them with the infrastructure to bring their solutions to market efficiently.

The timing aligns with the UAE government’s push to establish a strong digital economy through the UAE Digital Economy Strategy, which aims to double the sector’s contribution to the nation’s GDP from 9.7% (April 2022) to 19.4% over the next decade. The partnership between Paymentology and Zand offers fintechs the necessary tools to grow. It also while reinforces the UAE’s position as a regional and global hub for the digital economy. By lowering the barriers to entry for new fintech players and accelerating financial innovation, the partnership will create a more inclusive and efficient financial ecosystem.

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