UAE FinTech Market Set to Surge to $5.71 Billion by 2029, Driven by Innovation and Investor Confidence

Emirates NBD and PwC’s FinTech 2025 Report outlines UAE’s growing role as a global FinTech hub, with $265M in 2024 funding, 89% digital banking adoption, and strong AI integration.

The UAE’s FinTech sector is on a powerful growth trajectory, expected to expand from $3.16 billion in 2024 to a staggering $5.71 billion by 2029, according to the newly launched FinTech 2025 Report by Emirates NBD in partnership with PwC Middle East.

Unveiled at the Dubai FinTech Summit 2025, where Emirates NBD served as Premium Banking Partner, the report titled “From Code to Capital: The UAE’s FinTech Revolution” paints a vibrant picture of a sector thriving on innovation, strategic investment, and consumer trust.

A Nation Embracing Digital Finance

The report reveals that 89% of UAE consumers now use digital-first bank accounts, demonstrating the country’s rapid and widespread adoption of digital financial services. FinTech startups attracted approximately $265 million in funding in 2024, accounting for nearly one-third of all startup capital raised in the UAE—further emphasizing investor confidence in the sector’s potential.

“The UAE’s $265 million of FinTech funding in 2024 signals strong investor confidence,” said Neeraj Makin, Group Head of Strategy, Analytics and Venture Capital at Emirates NBD. “Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.”

Building a Future-Ready Ecosystem

The UAE’s FinTech ecosystem is being rapidly shaped by strategic partnerships, venture investment, and strong regulatory support, with collaboration between the public and private sectors proving crucial. The report calls for continued use of open APIs, regulatory sandboxes, and co-branded innovation models to sustain momentum and deepen customer impact.

Miguel Rio-Tinto, Group Chief Digital and Information Officer at Emirates NBD, emphasized the bank’s role in the sector’s transformation:
“Through strategic partnerships, in-house innovation and venture investments, we’re proud to help drive the FinTech revolution. This report shows how established banks can leverage FinTech for growth, efficiency, and superior customer experience.”

AI at the Core of the Transformation

One of the report’s key highlights is the transformative role of artificial intelligence (AI) in redefining financial services—from hyper-personalization and fraud detection to compliance and risk modeling. Emirates NBD’s shift from pre-AI to post-AI operations has resulted in significant improvements in efficiency, control, and scalability.

Stephen Anderson, Strategy Leader at PwC Middle East, remarked:
“This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies. The UAE is clearly at the forefront of this financial evolution.”

With its vibrant mix of digital adoption, strong regulatory frameworks, and a proactive innovation culture, the UAE is positioning itself as a leading global FinTech hub—one that will not only shape the region but also influence financial services worldwide in the coming decade.