The National Bank of Oman (NBO) has concluded the second cohort of its fintech accelerator program, graduating six startups operating in wealth management, digital payments, AI credit scoring, and anti-fraud. The initiative, designed to accelerate financial innovation in Oman, offers participating companies access to $1.8 million in potential investment opportunities.
Quick Facts
- Six fintech startups graduated from the cohort.
- Program offers up to $1.8M in investment opportunities.
- Focus areas include AI, payments, and wealthtech.
The program wrapped up with a Demo Day attended by representatives from Omani regulatory and government bodies, the Central Bank of Oman, financial institutions, and investors. The event provided a platform for the graduating startups to present their solutions to potential partners and investors.
Meet the Graduating Fintechs
The second cohort featured a diverse group of companies tackling different challenges within the financial sector:
- Rushd Capital: A digital platform offering Sharia-compliant investment advisory and wealth management services.
- Payce: A QR code-based payment and bill-splitting platform built for the hospitality industry.
- CardO: A service providing temporary virtual payment cards to improve the security of online transactions.
- Cxingularity: An AI-powered solution that automates credit decision-making processes for financial institutions.
- Bayzati: A personal finance management application tailored for users in Oman and the wider GCC region.
- Aman: An automated platform for monitoring financial fraud, developed as part of Oman’s Scientific Research and Innovation Authority “Upgrade” program.
Fueling Oman’s Vision 2040
NBO’s accelerator is a key part of its strategy to support Oman’s digital transformation goals outlined in Vision 2040. By connecting entrepreneurs with investors and industry experts, the bank aims to build a competitive fintech ecosystem in the Sultanate.
The program provides startups with mentorship, product testing support, and direct access to financial sector stakeholders. Since its launch, the accelerator has graduated a total of 11 startups across its first two cohorts, helping them validate their products, run pilot projects, and form strategic partnerships. This initiative positions NBO not just as a financial institution but as an active partner in developing a new generation of fintech companies ready to serve the local market and expand across the GCC.
About the NBO Fintech Accelerator
The National Bank of Oman’s fintech accelerator is an initiative designed to identify and support promising financial technology startups. The program provides entrepreneurs with a comprehensive ecosystem of mentorship, guidance, and development opportunities to help them transform innovative ideas into market-ready companies. It plays a crucial role in strengthening Oman’s digital economy by fostering collaboration between startups, investors, and established financial institutions.
Source: Fintechgate
