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Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, announced that it had received 166 applications from over 39 countries for its inaugural FinTech Abu Dhabi Innovation Challenge.

The impresive global participation was achieved in under two weeks of outreach activities coordinated by both ADGM and KPMG. All applicants have proposed game-changing innovations that address real-life business issues which affect the financial services industry in the Middle East, Africa and South Asia (MEASA) region. They have also included solutions that cover a range of concepts including Financial and Investment Management, Financial Inclusion, RegTech, Trade Finance, InsurTech and Private Capital Markets.The majority of applications were from major international FinTech markets and emerging centres, such as the UK, Singapore, India, the USA, Hong Kong, China, Australia, the UAE, Africa, to name a few.

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