Image: Getty Images/ For illustrative purposes
From real-time payments and super wallets to open finance and hyper-personalisation, here’s how financial technology is evolving in the UAE and beyond — turning digital wallets into engines of inclusion, speed, and trust.
Financial applications are no longer just tools; they are transforming the very fabric of how individuals and businesses experience and manage their money. What once began as simple digital wallets has evolved into platforms that foster financial inclusion, enable seamless daily transactions, and connect economies across borders.
In observing the shifting landscape, I see six powerful trends emerging both in the UAE and around the world, trends that are not only redefining mobile money but also shaping the future of financial empowerment.
1. Real time as the new baseline
Speed is no longer a premium feature. It is an expectation. In 2023, real time payments accounted for about 19 per cent of all electronic transactions worldwide and are projected to reach more than 27 per cent by 2028. In the UAE, this expectation is magnified by a population deeply engaged in internet-driven lifestyles and accustomed to digital convenience.
However, this shift represents more than convenience alone. It improves cash flow for small businesses, reduces friction in commerce, and raises user trust when funds arrive within seconds.
2. The rise of all-in-one super wallets
Financial apps are moving beyond single-purpose wallets to become comprehensive platforms. From bill payments and peer-to-peer transfers to international transfers and merchant acceptance, the trend is towards consolidation of services in a single application.
In markets like the UAE, where consumers interact daily with multiple service providers, this integration reduces friction and simplifies financial management.
Super wallets are evolving into everyday financial hubs that hold value, facilitate payments, and connect seamlessly with both local and international beneficiaries.
3. Financial inclusion through mobile money
Globally, over 1.4 billion adults still remain outside the formal banking system. Mobile money continues to bridge this gap by offering accessible, account-like services through smartphones. The UAE, with its diverse population of residents and migrant workers, reflects this global need for safe, affordable, and reliable digital access to funds, esp. for the unbanked and underserved segments. For instance, International Money Transfers is a lifeline for many households, and financial apps that provide secure cross-border transfers with transparent pricing play a crucial role in enabling inclusion.
4.Open finance takes hold in the UAE
The UAE is moving decisively toward secure data portability. The Central Bank’s Open Finance Regulation and trust framework creates the conditions for licensed players to share customer-permissioned data through standardised APIs. For consumers, this means better comparisons, more tailored offers, and easier switching.
For innovators, it reduces integration costs and accelerates new product development. Responsible data sharing, with clear guardrails, is emerging as the cornerstone of future financial design.
5.Hyper-personalisation as the new differentiator
We are entering an era of hyper-personalisation in financial services, where consumers increasingly expect more than standardised offerings. They want tools that recognise their individual patterns, goals, and preferences. Financial apps that provide contextual alerts, tailored recommendations, and meaningful insights elevate themselves from transactional utilities to trusted financial companions.
In the UAE, where customers are digitally savvy and accustomed to seamless experiences in other sectors such as retail and travel, the same expectation now applies to finance. The ability to deliver relevant, personalised interactions will be a defining measure of customer loyalty and long-term engagement.
6. Cross-border flows go digital and mainstream
The UAE’s economy is uniquely global, built on a workforce and families connected across borders. Officially recorded international transfers to low- and middle-income countries reached about $685bn in 2024, growing faster than expected. Digital rails and mobile money solutions are steadily replacing cash counters and paper forms.
The most trusted solutions are those that combine transparent FX pricing, instant tracking, and compliance by design, while speaking the languages and serving the corridors that matter most to residents.
Looking forward
The future of financial apps will be defined by speed, security, and inclusiveness. Mobile money is no longer peripheral; it is central to how households manage daily expenses, how businesses collect payments, and how communities remain connected across borders.
The UAE is uniquely positioned to be a global leader in this transformation, supported by its regulatory foresight, digital readiness, and dynamic population.
For financial technology providers, the responsibility is clear. They must deliver solutions that are instant, intuitive, and trusted. For customers, the benefit is equally clear. They gain greater control, transparency, and participation in an increasingly digital economy.
The six trends outlined above are not distant projections. They are unfolding now. The next phase belongs to those who can translate them into practical, everyday value for the people who matter most, the users.
