Sat, Feb 22, 2020
AB Accelerator is not the typical business accelerator model of desk, pipe, and shared space; we focus on redefining the traditional model by accelerating the growth of Fintech startups within the Arab Bank’s footprint. The program acts as a gateway to access Arab Bank’s know-how, mentorship and as well as funding opportunities.
Why We Exist
AB Accelerator is the focal point for innovation with a simple, practical role: we partner with up FinTech startups to integrate them within the Arab Bank ecosystem. In this way, we help Arab Bank adopt emerging technology solutions that enhance, improve, and re-imagine the way we serve our clients. Our mission is to provide exceptional FinTech startups with product validation through industry feedback and conducting Proof of Concepts (PoC) with live customers. The objective is to endorse a pilot deal with the Arab Bank based on the outcome of the PoC. Also, we support FinTech startups in scaling throughout the MENA region through the Arab Bank network; 600+ branches across four continents.
Where We Invest
We’re looking for startups with products that improve our business processes, our customer relationships, and our infrastructure. Preliminary we look for companies in the Fintech industry that are leveraging technologies;
Open banking API’s
We also look for startups in other industries that would add value to the financial services ecosystem.
AB Accelerator is based in Amman, Jordan, with offices in Dubai and Egypt. We believe fast-growing global startups can be born anywhere in the world. We are geo-agnostic in terms of where we invest. The most important admission criterion is the value the business delivers.
What We Look For
Successful companies, in our experience, come in many different shapes and sizes but have a few attributes in common at the early stage. We look for founder-market-fit, vision, and early product and customer traction. The quality of the founding team and caliber is a priority. How well they’ve considered the customer, and the challenges and how that is represented itself in the product.
How We Work With Founders
We are a hands-on partner and aim to provide much more than capital. Our focus is on building the infrastructure in which founders can accelerator their vision through immediate access to customers and markets. Furthermore, we help create strong foundations of governance in preparation for expansion and the next round of funding. We help set and achieve milestones.
AB Accelerator Program
The program is best positioned for FinTech startup building distributive value-added solutions in the financial service industry targeting the MENA region. Applications are all-year-round, which is then followed by the selection process based on the business and investment thesis validation.
We run a hybrid model in which a large part of it is virtual, which means you don’t have to relocate, and FinTech startups from around the world are encouraged to apply. However, we do recommend proximity to the MENA region to take full advantage of program resources.
The program is tailored to each company stage of development and strategic objectives to ensure that our partnership generates real value for all involved. The program is embedded within the Arab Bank, and each company is personally sponsored by a department in the Arab Bank. Furthermore, we launched an API Developer Portal in which companies can integrate with the Arab Bank’s Infrastructure.
If you have a product in the market with some customer traction operated by a passionate team, you fit the program criteria. You can apply today, and our team will get in touch with you with the next steps.
About Arab Bank
Arab Bank is headquartered in Amman, Jordan, and has one of the largest global Arab banking networks with over 600 branches spanning 4 continents. Arab Bank is also present in key financial markets and centers such as London, Dubai, Singapore, Geneva, Paris, Frankfurt, Sydney, and Bahrain. Arab Bank provides a wide range of financial products and services for individuals, corporations, and other financial institutions. The bank’s main business lines cover Consumer Banking, Corporate and Institutional Banking, and Treasury.