The sector is forecast to grow from $3.16 billion in 2024 to $5.71 billion by 2029, fueled by supportive regulation, public-private partnerships, and increasing consumer demand. Neeraj Makin, Group Head of Strategy at Emirates NBD, said the funding reflects investor confidence and positions the UAE to become a leading destination for FinTech innovation. The report points to a mature ecosystem backed by diverse talent, scalable infrastructure, and a clear pathway for startup exits. The study also underscores the role of artificial intelligence in reshaping financial services, from personalised offerings to enhanced risk management. Emirates NBD's own AI-driven transformation has improved efficiency and operational control. Miguel Rio-Tinto, the bank's Chief Digital and Information Officer, noted that collaboration between traditional banks and startups—through open APIs and innovation sandboxes—is vital for sustained progress.