Cybersecurity serves as the backbone of the fintech landscape

Khaleej Times20-05-2025

Cybersecurity serves as the backbone of the fintech landscape, enabling secure transactions, protecting consumer interests, and ensuring compliance with regulations. As the sector continues to evolve, the integration of cutting-edge cybersecurity strategies will be crucial in sustaining growth and maintaining trust in digital financial services, according to experts.
Industry executives and cybersecurity specialists said cybersecurity plays a pivotal role in safeguarding the burgeoning fintech sector, which encompasses a range of technologies transforming financial services, from mobile banking to blockchain and cryptocurrency applications.
'As fintech companies innovate and expand, they become attractive targets for cybercriminals seeking to exploit vulnerabilities for financial gain. Hence, robust cybersecurity measures are essential to prevent disruptions that can result from data breaches, fraud, or system outages,' say the experts.
Cyber Resilience
Subhalakshmi Ganapathy, Chief IT Security Evangelist at ManageEngine, said cybersecurity is not just a compliance requirement, but the foundation of financial stability in the UAE's rapidly evolving fintech landscape.
'With digital banking and cryptocurrency adoption surging, the attack surface is expanding, making robust security frameworks essential to preventing financial disruptions,' Ganapathy told BTR.
Referring to Statista data, she said the UAE's cryptocurrency market is expected to reach 3.78 million users by 2025, with a penetration rate of 39.13%. 'Regulatory initiatives like the Financial Infrastructure Transformation (FIT) programme and Dubai's Virtual Assets Regulatory Authority (Vara) demonstrate the country's commitment to cyber resilience,' she said.
However, she said financial institutions must go beyond regulations, proactively addressing threats such as ransomware, supply chain vulnerabilities, and crypto-specific risks.
'Given the UAE's global financial influence, a single cyber incident could have widespread repercussions. I believe public-private partnerships that integrate regulation with technological innovation are key to ensuring cybersecurity remains a business enabler, not an afterthought,' Ganapathy said.
Backbone of Trust
Ezzeldin Hussein, Regional Senior Director, Solution Engineering, META, SentinelOne, said cybersecurity is the backbone of trust in the UAE's rapidly growing fintech ecosystem, especially with the rise of digital banking and cryptocurrencies.
'As cyber threats become more sophisticated, financial institutions must proactively defend against fraud, data breaches, and ransomware attacks that could disrupt services and erode consumer confidence,' Hussein told BTR.
'Robust security frameworks, including AI-driven threat detection, zero-trust architecture, and blockchain security enhancements, are essential in mitigating risks. Regulatory compliance, such as adherence to UAE Central Bank guidelines and global security standards, also plays a crucial role in ensuring resilience,' he said.
Beyond technology, he said continuous cybersecurity awareness among users and financial professionals is vital.
'Attackers often exploit human vulnerabilities, making education and vigilance just as important as technical defenses. Strong cybersecurity measures don't just prevent financial disruptions, but also enable innovation and long-term growth in the UAE's fintech sector by ensuring a secure and resilient digital financial landscape,' Hussein said.
Data Protection, Regulatory Compliance
Analysts and IT experts opine that cybersecurity facilitates stability in fintech by protecting sensitive financial data.
'Fintech firms handle personal and transactional data, which if compromised, can lead to identity theft, financial losses, and a loss of consumer trust. Implementing encryption, secure authentication protocols, and regular security audits helps protect against unauthorised access and ensures that customer data remains confidential and intact,' says an expert.
In addition to protecting data, he said cybersecurity also aids in compliance with regulatory frameworks that govern financial transactions.
'With regulations like the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS), fintech companies must adhere to strict security guidelines. A strong cybersecurity posture not only helps avoid costly fines but also demonstrates a commitment to consumer protection and ethical business practices.'
Furthermore, proactive cybersecurity strategies, including incident response planning and continuous monitoring, are vital in swiftly addressing potential threats and vulnerabilities.
'By investing in cybersecurity technologies and fostering a culture of security awareness among employees, fintech companies can significantly reduce the risk of cyberattacks and subsequent financial disruption,' according to an IT specialist.

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Not just remote: A unique take on the future of work

Khaleej Times

03-06-2025

Khaleej Times

Not just remote: A unique take on the future of work

In the aftermath of the global pandemic, as organisations around the world still grapple with the 'return to office' debate, the UAE is methodically crafting a hybrid work model that breaks away from traditional norms. Rather than conforming to a rigid divide between remote and in-office work, the country's approach emphasises flexibility, adaptability, and seamless technological integration. While hybrid work models have gained traction across various sectors in the UAE, the telecommunications industry offers a particularly compelling lens through which to examine this evolving culture. Companies like e& and du are navigating the shift with approaches that reflect both technological capability and an understanding of changing workforce dynamics. While talking to BTR, their strategies highlight how hybrid work is being operationalised within a sector that sits at the crossroads of connectivity, innovation, and national development. Beyond flexibility and productivity, hybrid working models offer tangible environmental and social benefits. Fewer commutes mean reduced carbon emissions, helping cities move closer to sustainability goals. Office footprints can shrink, leading to lower energy consumption and more efficient use of resources. For employees, the model supports better work-life balance and mental wellbeing, while for employers, it fosters a more resilient and inclusive workforce. As the UAE advances its sustainability agenda, hybrid work stands out as both an economic and ecological win. It isn't just about toggling between home and office. It's about intentional flexibility. Across sectors, we're witnessing a shift from rigid schedules to fluid routines designed to balance productivity, wellbeing, and collaboration. This approach is uniquely local, shaped by the UAE's ambitious digital agenda, its multicultural workforce, and a deep cultural emphasis on community. It's not just hybrid; it's holistic. e&: Designing with Purpose, Leading with Empathy At e&, the hybrid work model is neither accidental nor reactive. According to Ali Al Mansoori, Group Chief People Officer, this new way of working is 'an intentional design shaped not just by what we learned during the pandemic, but by a deeper commitment to our people, our planet, and our purpose.' Since the launch of our One& Culture, we've been rethinking how we support our people at every life stage, whether it's through more flexible and inclusive parental policies, enhanced education support for children of determination, or meaningful updates to our leave policies,' he said. 'This isn't a temporary arrangement,' Al Mansoori stresses. 'It's a thoughtfully crafted approach that supports flexibility while keeping us connected and collaborative.' e&'s hybrid structure thrives not only because of its policies, but also because of the powerful infrastructure behind it. One standout is its adoption of Oracle Cloud Infrastructure - Dedicated Region (OCI-DR). As the first in the UAE to launch Oracle Fusion Human Capital Management on DRCC, e& has digitised and personalised the employee experience at scale. The result? A culture where flexibility is not the enemy of performance, but a facilitator of it. Du: Hybrid by Design, Flexible by Necessity While e&'s model is engineered with long-term intent, du blends intentionality with adaptability. For Fatema Al Afeefi, Chief People & Impact (Acting), the company's approach is shaped both by post-COVID realities and a forward-looking vision. 'Du's hybrid work model appears to be both an intentional design and a flexible adaptation,' she explains. 'It leverages the UAE's emerging hybrid work culture, characterised by informal routines shaped by trust and results,' she explains. The company leverages the UAE's emerging hybrid work culture, characterised by informal and adaptive routines shaped by trust and results. du's efforts are aligned with fostering employee productivity and engagement while embracing the broader vision of workplace modernisation.' Central to this balance is du's modern headquarters at Dubai Hills, designed to foster innovation and collaboration. But even beyond the physical space, du's true strength lies in its investment in people. Whether through the Harvard Manager Mentor Program, Huawei-certified training, or its Future X and Digital Talent initiatives, du focuses heavily on equipping employees with future-ready skills. The company's Digital Talent Program has also created pathways for employees to align their personal growth with market needs, cementing du's place as a cornerstone of the UAE's digital economy vision. Empowering with Tech, Leading with Culture If there's one clear takeaway from both companies, it's this: hybrid work doesn't work without a powerful combination of technology and trust. At e&, this synergy is embodied in their GenAI-powered 'e& Assistant', a tool embedded into Microsoft Teams that helps employees navigate systems, complete tasks, and find information; all without adding complexity to their workflows. Combined with an internal AI Academy and a robust AI Graduate Programme, e& is actively preparing its workforce for a smarter, tech-enabled future. And this future is deeply inclusive. 'In 2024, 62% of e&'s AI graduate hires were women, with a growing number of Emirati participants. This isn't just a productivity enabler,' says Al Mansoori. 'It's a reflection of our values, gender diversity, youth development, and national progress.' Du mirrors this commitment to engagement and equity. Their Engagement Ambassadors, recognition programs, and transparent feedback loops, measured through Microsoft Viva Glint, help maintain cohesion across remote and office setups. In fact, du's engagement scores place it among the top 10% of companies worldwide, and in the top 25% within the global tech sector. What's emerging in the UAE isn't a copy-paste of Silicon Valley or European remote trends. It's something original: a hybrid work culture informed by regional values, empowered by world-class infrastructure, and led by companies that believe in purposeful growth. This model understands that hybrid isn't about where work happens, but how and why it happens. It blends flexibility with accountability, autonomy with alignment, and innovation with empathy. In a world of extremes where some companies enforce strict office returns and others go fully remote, the UAE is navigating a third path i.e. quietly, confidently and successfully. From Policy to Practice Of course, hybrid work comes with its own set of challenges. Scaling flexible routines across departments, ensuring cultural alignment, and maintaining equity across different work modes are complex tasks. But both e& and du are showing that it can be done with clarity, investment, and empathy. For policymakers and business leaders, the UAE's approach offers valuable lessons. It shows that the hybrid model isn't a tech issue or an HR trend; it's a human story. One about rethinking trust, autonomy, and purpose in the workplace. As governments around the world debate the future of work, the UAE has quietly built one. And perhaps, it's time the rest of the world started paying attention. As the nature of work continues to evolve, the UAE is quietly shaping a version of hybrid work that reflects its unique social, technological, and corporate landscape. In the telecommunications sector, where agility and innovation are critical, companies like e& and du are not just adapting, they are actively redefining how and where work gets done. Their experiences illustrate that hybrid models, when grounded in trust, flexibility, and purposeful technology, can be both scalable and sustainable. As other industries look to refine their own approaches, the telecom sector's journey offers valuable lessons on building resilient, future-ready workplaces in a region undergoing rapid transformation. Quick Take – Key Hybrid Work Enablers Human-centered Design: Both e& and du prioritise employee wellbeing, flexibility, and life-stage-specific policies. Advanced Infrastructure: E& leverages Oracle Cloud Infrastructure and GenAI tools, while du uses sustainable workspaces like Dubai Hills HQ. Future-ready Learning: From AI Academies to Harvard Manager Mentor courses, continuous learning is central to hybrid success. Trust and Transparency: Engagement surveys, leadership town halls, and open feedback systems underpin workplace cohesion. Inclusion and Diversity: With initiatives promoting Emirati talent and women in tech, hybrid work is being used to narrow — not widen — equity gaps.

UAE's $3.7 billion tech economy takes spotlight in Berlin at inaugural GITEX EUROPE

Dubai Eye

24-05-2025

Dubai Eye

UAE's $3.7 billion tech economy takes spotlight in Berlin at inaugural GITEX EUROPE

Europe's largest inaugural tech, startup and digital investment event, GITEX EUROPE x Ai Everything, was held at Messe Berlin this week, with the UAE's innovation taking centre stage. The three-day show, which concluded on Friday, brought together more than 1,400 exhibitors, 600 top global investors and over 500 speakers from 100-plus countries, together marking the strongest cross-border tech mobilisation the continent has seen. National pavilions stretched from India to Italy, Morocco to South Korea and 35 European states, alongside participation from the UAE showcasing how the nation is becoming a global reference for technology advancement across multiple industries including governance and public service. The UAE's IT services market is forecast to achieve record growth to reach $3.76 billion in 2025, according to fresh Statista data, a momentum that was impossible to miss on a show floor featuring 65 UAE organisations - the nation's biggest ever entrepreneurship and digital investment delegation to a European tech event. The Ministry of Economy pavilion presented a cohort of home-grown tech ventures aimed squarely at addressing global challenges. Among them is Zeroe, delivering comprehensive carbon management to accelerate net zero goals; Hikmah Labs, merging AI with cutting-edge research to transform industries; IngenioData, deploying AR and BLE based indoor navigation, asset tracking and analytics; and Responsive Drip Irrigation, creators of the world's first plant-responsive irrigation system, which allows the plant to self-regulate its own water delivery. Among the dignitaries inaugurating the momentous first European edition, Alia Al Mazrouei, UAE Minister of State for Entrepreneurship, shared in her welcome address: 'Germany is now the UAE's second largest trading partner within the EU. And Berlin as a global capital of innovation plays a central role in that story. It mirrors the trajectory; dynamic, diverse, and globally connected. Together, we are shaping a new economic corridor, one powered by innovation and grounded in common purpose.' Joining the UAE delegation were Hazza Al Mansoori, the first Emirati astronaut to travel to space and Nora Al Matrooshi, the first female Emirati astronaut. Hazza Al Mansouri shared insights on the aerospace evolution in a media briefing, 'Artificial intelligence in space is something that we are experimenting with. For example, Simon, a floating robot, and making the lunar gateway, the space station more autonomous, because it's not going to be inhabited all the time.' Organised by Digital Dubai, the Dubai Pavilion highlights the city's AI-powered evolution and advanced public services featuring 12 key government and private entities, including, Digital Dubai, Dubai Police, General Directorate of Identity and Foreigners Affairs (GDIFA), Dubai Civil Defense, DIFC Courts, the Dubai Electronic Security Center, the Dubai Department of Economy and Tourism, Dubai Customs, Dubai Future Foundation, and Mohammed Bin Rashid Space Centre (MBRSC), alongside e& and Emaratech as Platinum Partners. Among the top innovations on show include the Dubai Dashboard, a unified city-wide platform offering a 360-degree view of data and indicators across various city sectors; alongside the Dubai Monitor, DubaiNow, Smart Employee, and UAE PASS, the national digital ID that enables secure identity verification for citizens through facial recognition tech. Dubai Police presented its autonomous policing ecosystem including Ghaith, a smart patrol car. Also on showcase was Salama, an AI-powered platform that streamlines Dubai's residency services with automated renewals and instant visa assistance - making government interaction seamless and future-ready.

UAE's $3.76 billion tech economy takes spotlight at GITEX EUROPE

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