New Digital Lab launches at the DIFC Innovation Hub to create a collaborative fintech ecosystem 

The CBD Digital Lab is the first initiative by a bank to establish a R&D facility in the DIFC Innovation Hub. The objective is to create a collaborative ecosystem in the fintech sector by fostering innovation and supporting integration between financial institutions and fintech startups.

During the inauguration, the guests took a tour of the lab and learnt more about how CBD’s Digital Lab backs the ambitions of the UAE’s digital and fintech ecosystem. The guests were also shown the CBD Think+Pod, a space that provides DIFC residents and visitors with a great opportunity to collaborate and ideate, as well as to conduct private meetings in the unique “Think Pod”. 

Dr. Bernd van Linder, Commercial Bank of Dubai Chief Executive Officer, commented: “We are delighted to inaugurate the CBD Digital Lab, to strengthen our Default Digital ambition and encourage fintechs to come up with new innovative ideas and solutions that can enhance, improve and reimagine the way we serve clients. The launch of the CBD Digital Lab is in line with our commitment to support the UAE government’s initiatives to be one of the world’s most innovative nations. Further, it reaffirms our efforts to expand infrastructure in financial technology, unlock innovation opportunities, and introduce new and innovative financial products to the market.” 

He added: “Rapid changes in financial technology are reshaping the future of the banking industry and the CBD Digital Lab will help in driving and inspiring a culture of disruption and innovation within CBD.”