Amman, Jordan – Union Bank honored the nominees for the Union Bank Small and Medium Enterprises Award in its ninth edition during a special event held at the Halim Salfiti Theater at the Union Bank headquarters on Saturday, November 23.
اضافة اعلان
This year’s award carries the theme "Shaping the Future of Fintech," with the bank aiming to recognize outstanding initiatives in the field of financial technology (Fintech). As financial technology continues to evolve, these companies play a crucial role in empowering individuals and businesses and driving economic development. Innovations such as digital banking services, e-payment platforms, lending technologies, and data analytics are making financial services accessible to all.
The CEO, Mrs. Nadia Al-Sayeed, awarded Capifly the prize of 50,000 Jordanian Dinars for its excellence in meeting the award criteria. The company has relied on innovation in designing fintech solutions, identifying a gap in the market where technology companies lacked alternative financing solutions to meet their needs. As a result, Capifly developed an online platform that connects tech companies with investors to secure the necessary funding for their businesses.
On this occasion, Union Bank's CEO, Mrs. Nadia Al-Sayeed, said: "I am very proud today of the creativity and development we have witnessed in small and medium-sized enterprises in the fintech sector. These companies represent an inspiring model of innovation that contributes to enhancing financial inclusion and providing advanced services that meet the needs of the times. At Union Bank, we reaffirm our continuous commitment to supporting these companies, as we consider them partners in driving digital transformation and shaping the future of fintech."
An independent jury, consisting of advisors and experts in entrepreneurship and fintech, including Zafar Younis, Lana Ghanem, and Tamer Salah, evaluated the companies that advanced to the finals: Capifly, InvoiceQ, and DESAISIV, based on four specific criteria: innovative fintech solutions, the company's financial indicators, business sustainability and growth, and social impact and inclusiveness.
In addition to the cash prize of 50,000 Jordanian Dinars, Union Bank has committed to supporting the three finalists through a comprehensive plan with four main pillars. First, opening doors for market expansion into Iraq by providing support and helping them build strategic partnerships there. Second, offering access to non-financial services, including legal, marketing, tax consultations, and human resources advisory. Third, giving the companies the opportunity to utilize the "Spark" center as a workspace or for training sessions, meetings, and more. Finally, introducing the companies to the bank's network of strategic partners to explore opportunities for collaboration and development.
The Union Bank Small and Medium Enterprises Award is a pioneering initiative launched by the bank for the first time in 2014 to support local businesses, enabling them to enhance their capabilities, given the prominent role they play in developing the Jordanian economy and advancing the Jordanian society as a whole. Over the years, this award has become a platform that empowers entrepreneurs and small and medium-sized businesses to grow through knowledge exchange and networking.
About Union Bank
Union Bank is a banking and financial institution focused on serving customers since 1987. The Union Bank Group holds a prominent position in Jordan and consists of several companies, including a financial brokerage firm (Union Financial Brokerage), and a leasing company (Union Leasing). Union Bank also owns a 10% stake in the National Bank of Palestine and holds a seat on its board of directors. In 2017, Union Bank acquired a controlling stake in Safwa Islamic Bank.
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