Banking major Emirates NBD, in collaboration with the Dubai International Financial Center (DIFC) Fintech Hive, has launched a 10-week-long global accelerator program for metaverse start-ups to augment the customer experience for the new virtual world. 

The program is powered by technology giant Microsoft and is in line with Dubai’s Metaverse plan, intending to place the Emirates in the top 10 metaverse economies across the globe and support over 40,000 virtual jobs by 2030. The program is also aimed at adding around $4 billion to Dubai’s economy by the end of 2027.

Under the accelerator program, DIFC Fintech Hive will evaluate and match Emirates NBD with leading start-ups offering unique propositions on the value creation, experience, and technology stack required for the metaverse.

“With our entry into the metaverse, we seek to reimagine financial services using extended reality and create compelling new propositions for our customers in the new metaverse economy,” says Marwan Hadi, executive vice president and head of Retail Banking at Emirates NBD.

“With 94% of all financial transactions and requests conducted outside the branches, the bank is exploring new technologies in the web 3.0 world to expand its digital footprint and create immersive experiences for our customers,” Hadi adds.

The accelerator program will conclude at the Gulf Information Technology Exhibition in Dubai, where the shortlisted candidates will pitch their ideas on how to improve banking customers’ experience. 

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