Serving the ME region since 2020, additiv, a global leader in FinTech and embedded finance, reaffirms its commitment to expand operations. The appointment of Niraj Naetsawan as the new Middle East General Manager plays a pivotal role in the growth engine for additiv; this strategic move underscores the company’s commitment to strengthening its presence in this dynamic market.
The financial services industry in the Middle East region is currently going through disruptive changes fuelled by new regulations, the establishment of new financial market infrastructures, the rise of FinTechs and large investments into digital banking propositions, all of which are driven by changing consumer demand. Dubai’s financial hub, DIFC, reported that 1,451 new companies launched operations in 2023 – marking the highest number of registrations in decades and a 34% increase from the previous year. Amid global economic uncertainty, the UAE’s appeal for new businesses is growing, primarily attributed to its swift recovery from the pandemic and its high-ranking ease of doing business. Furthermore, an increasing number of Asia-based wealth managers, family offices, and asset managers are choosing to establish their presence in the emirate1 marking a notable gap for additiv’s business transformation services.
Niraj, General Manager ME, is excited about the opportunity to further expand the Middle East market through additiv’s Finance-as-a-Service (FaaS) proposition, which empowers financial and non-financial companies to enhance efficiency, seize new opportunities through embedded finance and diversify their revenue streams, ultimately driving continued growth. Serving the region from its Dubai office, the Middle East is one of the most important markets for additiv as affluence and digital literacy are rising, and there remains a notable gap in the provision of high-quality financial services tailored to the unique needs of the region’s consumers, particularly in the banking sector.
Niraj Naetsawan, General Manager Middle East at additiv, said: “What makes the Middle East a truly exciting place is the convergence of cutting-edge technologies with innovative propositions, and that is what we are doing at additiv - We are disrupting the way financial services are being distributed to consumers through innovative proposition design and bringing the power of tech and collaborative partnerships to life.”
Nils Frowein, Chief Executive Officer at additiv, added: “At additiv, we continue to prioritise the Middle East as a key area of focus. Although we have been operating in the Middle East since 2020, It was crucial for us to establish a physical presence and have a dedicated team in the region, as they possess extensive knowledge of the market. Appointing Niraj as our new general manager for the Middle East is a crucial move towards advancing our operations, given his deep understanding of the market and his ability to meet the needs of our partners and clients.”
As we envision the future, the imperatives are clear. Financial services must be liberated from their traditional confines, embedded within the broader narrative of consumers’ lives, and delivered with an unwavering commitment to accessibility, affordability, and relevance. This approach not only enhances customer experience but also opens new revenue streams for businesses. Our mission is to empower businesses in the region with the tools and capabilities to embrace embedded finance and drive unprecedented growth.
About additiv
additiv enables leading financial institutions and brands globally to develop new and transform existing business models, capitalising on digital innovation and FaaS capabilities.
additiv’s API-first Cloud platform is one of the world’s most powerful solutions in wealth management, credit, and insurance. The technology, together with the global ecosystem of regulated financial service providers, opens new opportunities for banks, insurance companies, asset managers, IFAs but also ‘consumer brands’ to offer their own and third-party financial solutions quickly and flexibly via existing or new customer channels.
Headquartered in Switzerland, with regional offices in Singapore, UAE, and Germany and more than 250 employees, additiv serves over 400 financial companies (banks, insurers, asset managers, pension providers, IFAs etc) and brands globally.
