FinTech’s in the UAE are still grappling with pandemic-related risks, and are adapting their business models accordingly. A new survey by Dubai-based Várri Consultancy sheds light on how financial technology businesses are coping.
Varri Consultancy – a boutique management consulting firm specialised in economic, social and environmental risk strategy – surveyed more than 100 FinTech professionals and investors for an overview of the industry’s risk landscape.
The survey was centred in the UAE – positioned by the Várri as leader of MENA’s soon to be $2.5 billion FinTech market. Despite strong economic fundamentals and a healthy investor appetite, the industry is approaching 2021 with a tentative mindset.
“The survey results reflect the uncertain times, globally,” said Várri founder and managing director Johnny Kollin. 60% of respondents identify higher uncertainty in the market today than there was a year ago, although few are worried about macro-economic factors such as country risk or inflation.
Instead, FinTechs are consumed by more immediate threats such as earnings uncertainty – cited by 50% as a risk – while nearly half expect 2021 to bring…
