Under the patronage of His Excellency Dr. Adel Sharkas, Governor of the Central Bank of Jordan and Chairman of the Jordan Payments and Clearing Company (JoPACC), the JOIN Fincubator recently celebrated the graduation of its third cohort. Represented by His Excellency Dr. Khaldoun Alwshah, Deputy Governor and JoPACC Board Member, the ceremony took place at the Four Seasons Hotel in Amman, drawing a crowd of senior banking executives, FinTech leaders, and regional investors.
A Six-Month Journey Toward Market Readiness
The third cycle of the incubation program provided an intensive six-month development path for participating startups. Over the course of the program, founders engaged in more than 100 specialized training workshops led by a network of over 35 experts in the fields of FinTech, entrepreneurship, and business strategy.
The curriculum was structured to take early-stage concepts through three distinct phases:
- Educate & Validate: Initial bootcamp focusing on product-market fit.
- Experiment & Develop: Refining core technology and operational models.
- Build & Launch: Finalizing the Minimum Viable Product (MVP) for market entry.
Showcasing FinTech Diversity and Innovation
During the event’s Demo Day, six startups presented their finalized MVPs, addressing a wide spectrum of market needs within the Jordanian financial landscape. These innovations spanned several high-impact sectors, including:
- Wealth Management and Green Finance: Developing sustainable investment tools and eco-friendly financing models.
- Reg-Tech and Insurance: Streamlining compliance and modernizing insurance delivery through digital platforms.
- Alternative Data Scoring and Lending: Creating new methodologies for assessing creditworthiness to expand financial access.
- Payments: Enhancing the speed and security of digital transaction systems.
Strategic Sector Support and Future Expansion
The success of the program was bolstered by its primary sponsors: Jordan Kuwait Bank, Housing Bank for Trade and Finance, and Capital Bank. These institutions played a critical role by offering startups access to real-world environments for implementing Proofs of Concept (PoCs).
Following the graduation, JoPACC CEO Ms. Maha Bahou officially announced the opening of applications for the fourth cycle of the JOIN Fincubator program. The incubator continues to offer a digital sandbox for product testing and a specialized mentorship network to help Jordanian innovators scale their solutions both locally and internationally.
About JoPACC
The Jordan Payments and Clearing Company (JoPACC) is a private shareholding company owned by the Central Bank of Jordan and all commercial banks in the kingdom. It is responsible for operating and developing various payment systems and digital platforms aimed at enhancing financial inclusion and driving the digital transformation of Jordan’s financial sector.
Source: JoPACC
