The 2018 cohort for DIFC FinTech Hive has begun and bondsmart are part of the clan. We had spent time in the summer focusing energies on working on the model and acceleration we desired for the UAE. The UAE has a fast-growing mass affluent market and are large buyers of direct bonds and Sukuk.
The launch event was held at Etihad Museum which celebrates the Union of the UAE’s seven emirates. During welcoming speeches the head of Accenture Middle East, Amr ElSaadani, shared his opinion that “experiences” frame the opportunities we develop – experience of getting off a plane, experiences from the people we meet and experiences we have in work, life and play. The theme of experiences and union are good signposts for the next 12 weeks and here I use to shape thoughts as we start this programme.
“Experiences” in bondsmart
When starting on a startup journey it is often the problems you see that are the pain points you set out to solve. To us, risk-averse investors saw poor returns in fixed deposits and equities are a rollercoaster. Institutional bonds are an ideal asset class but difficult for retail investors to access and that was the experience we set out to change and pilot our tech.
“Union” in bondsmart
Disruption was the way that FinTech set out to grow but in reality, new ways of working and owner of the customer now work together. So disruption is now replaced with co-operation and spawned what we commonly see as “innovation labs” in financial instructions. With bondsmart technology, we hope to work on pilots with the partner institutions of the programme in the coming weeks with speed dating as a starter.
The DIFC FinTech Hive journey now begins. Watch out for more.