MUSCAT: The National Bank of Oman (NBO) has announced the selection of five innovative startups for its Fintech Accelerator Programme, reinforcing its position as the Sultanate’s first bank to spearhead such an initiative. Such step underscores NBO’s commitment to advancing innovation and empowering fintech entrepreneurs while shaping the future of banking in the country.
With ThemarIP, Archon, Pyra.AI, Saree3, and InstaSpace selected, these startups are recognized for their forward-thinking approaches and for their potentials to enhance banking operations while driving efficiency and optimizing customer experiences.
The startups engaged in an introductory and progress meeting with Mr Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, marking the start of their collaborative journey, where he stressed the Programme’s significance in shaping the future of banking.
Commenting on the significance of this initiative, Mustahil Ahemd Al Mamari, Assistant General Manager and Head of Strategy and Transformation at NBO: “The Fintech Accelerator Programme reflects NBO’s dedication to driving innovation and supporting entrepreneurs who are shaping the future of banking. We are proud to support with these talented teams, providing them with the resources and mentorship necessary to bring their visionary ideas to tangible reality.”
He added: “The NBO Fintech Accelerator supports Oman’s fintech ecosystem, aligning with our in-country value goals. By empowering local talent and startups, we contribute to economic diversification and sustainable development, driving impactful innovation in the financial sector and beyond, in line with Oman Vision 2024.”
Among the selected startups, Pyra.AI focuses on enhancing financial reporting systems through artificial intelligence. Archon provides AI-driven data analysis to support fraud detection and credit scoring decision-making. ThemarIP is a personalised investment platform that leverages open banking to align customer savings with tailored investment strategies. Saree3 offers a payment service platform that supports small and medium enterprises (SMEs), and InstaSpace uses artificial intelligence to streamline contract management solutions for businesses, banks, and enterprises.
As part of the Programme, participants benefit from expert mentorship, tailored business development sessions, and access to a vast network of industry leaders. This support underscores NBO’s mission to create a thriving fintech ecosystem that fosters innovation and positions Oman as a hub for technological excellence in the financial sector.
By launching the Fintech Accelerator Programme, NBO continues demonstrating its innovation leadership and commitment to fostering a sustainable and inclusive financial ecosystem.
