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FinTech Consortium, one of the most prominent FinTech incubators and ecosystem builders in the Middle East, announced the launch of the Jordan FinTech Bay (JFB) late last week.

The objective behind this new initiative is to foster synergies among key market players including, but not limited to, government bodies, financial services providers, investors, entrepreneurs, corporate heavyweights, and of course, innovators. 

Basically, anyone focused on leveraging new-age technologies to bolster Jordan’s financial industry is welcome to join this newly launched ecosystem.

To begin with, JFB will zoom in on a balanced blend of physical resources and sophisticated digital solutions to tap in on the existing infrastructure provided by the lies of FinTech Advisory Services, Venture & FinTech Acceleration Program, National FinTech Talent Program (fintech-institute.com), Research & Publications and its various events. 

To smoothly implement its vision, JFB has already established strategic partnerships with the Ministry of Digital Economy & Entrepreneurship, the Crown Prince Foundation of Jordan, the Innovative Startups and SMEs Fund and the Jordan Payments and Clearing Company.

Speaking on the vision behind the JFB, Mr. Gerben Visser, Founder & CEO of FinTech Consortium said, “Jordan FinTech Bay envisage to play a multi-faceted role in the development of the fintech enablement and positioning of Jordan as a regional fintech hub.” 

He added: “This includes assisting in the execution of a range of comprehensive initiatives related to fintech talent development, venture acceleration, corporate incubation, enterprise acceleration programs, co-working, and venture capital.”

On a related note, HRH Crown Prince Al Hussein bin Abdullah II had already paved the way for this new initiative earlier in March 2019 by inking an MoU with the Central Bank of Bahrain (CBB) and the Bahrain FinTech Bay (BFB).

Jenan Al-Mukharriq

Jenan Al-Mukharriq

A highly driven organizing member of the StartUp Bahrain ecosystem. And a Project Manager at Matter In Hand with a passion for content creation and empowering communities.