A key component of Additiv's growth engine is the appointment of Niraj Naetsawan as the new Middle East General Manager. This calculated decision demonstrates the company's dedication to bolstering its position in this vibrant area.

The Middle East financial services sector is presently undergoing significant transformations due to shifting consumer demand, which is driving new regulations, the development of new financial market infrastructures, the emergence of fintechs, and significant investments in digital banking offerings. The financial center of Dubai, DIFC, said that 1,451 new businesses opened for business in 2023, which is a 34% rise from the previous year and the greatest number of registrations in decades.The UAE is becoming more and more appealing to new enterprises in the midst of instability in the global economy. This is mainly because of its quick recovery from the epidemic and its excellent ease of doing business. Additionally, a growing number of asset managers, family offices, and wealth managers with roots in Asia are deciding to set up shop in the emirate[1], creating a clear need for Additiv's business transformation services.

The finance-as-a-service offering from Additiv, which enables both financial and non-financial companies to improve efficiency, seize new opportunities through embedded finance, and diversify their revenue streams, ultimately driving continued growth, excites Niraj, General Manager ME, about the chance to further expand the Middle East market. With a growing middle class and increasing digital literacy, the Middle East is one of Additiv's most significant markets. However, there is still a noticeable gap in the availability of high-quality financial services that are specifically catered to the needs of the region's customers, especially in the banking industry. Additiv operates out of its Dubai office.

"The convergence of cutting-edge technologies with innovative propositions is what makes the Middle East a truly exciting place," added Niraj Naetsawan, General Manager of Additiv's Middle East division: "We are disrupting the way financial services are being distributed to consumers through innovative proposition design and bringing the power of tech and collaborative partnerships to life."

"At additiv, we continue to prioritize the Middle East as a key area of focus," said Nils Frowein, the company's CEO. Even though we have been doing business in the Middle East since 2020, we felt that it was important to have a physical presence and a committed team there because they are well-versed in the local market.Given his in-depth knowledge of the industry and his capacity to satisfy our partners' and clients' expectations, Niraj's appointment as our new general manager for the Middle East is an essential step in the advancement of our operations.

As we look to the future, the priorities are obvious. Financial services need to be given with an unrelenting dedication to accessibility, affordability, and relevance, freed from their traditional limits, and integrated into the larger story of consumers' lives. This strategy gives firms new sources of income in addition to improving the client experience. Our goal is to provide local companies with the know-how and resources they need to adopt integrated finance and achieve previously unheard-of levels of growth.