Fintech Consortium, a FinTech Incubator and Ecosystem builder, announced the launch of Jordan Fintech Bay.

Jordan FinTech Bay will offer digital solutions and physical resources to fintech startups. It offers other kinds of support and services such as fintech advisory, an acceleration program, a talent program, research and events.

“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.

Gerben Visser
Founder & CEO of FinTech Consortium

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. 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.”

Jordan Fintech Bay has been established to create a strong relationship between market players, government entities, corporations, investors and innovators who believe that technology can bring added value and prepare Jordan’s economy for the future.

Jordan FinTech Bay has 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.

The Crown Prince Foundation signed two memorandums. The first with the Central Bank of Bahrain. It is aimed at enhancing cooperation through the financial technology and innovation unit at the bank. As well as, to exchange expertise in financial technology and design programs. The second memorandum with Bahrain FinTech Bay focuses on cooperation to design a business entrepreneurship model to support fintech in Jordan.

The Central Bank of Jordan urges banks and financial institutions to encourage and adopt FinTech. They also call for them to leverage the latest technology to help develop the country’s economy. Additionally, the bank’s FinTech Regulatory Sandbox wants to create relationships with all FinTech hubs emerging in the market.