It’s been two years since a U.S.-brokered deal that normalized diplomatic relations between Israel and the United Arab Emirates (UAE) in 2020, leading to the opening of embassies in Abu Dhabi and Tel Aviv and launching a new era of bilateral cooperation in areas including trade, security and financial services.
For businesses located in two of the most innovative economies in the Middle East region, the Abraham Accords have opened up possibilities for collaboration that have the potential to significantly boost their respective technology sectors.
For example, this month it was announced that two Israeli companies are joining the Abu Dhabi Investment Office’s (ADIO) innovation program, a $545 million scheme to encourage global technology firms to expand their intellectual property in the emirate.
The FinTech-focused Liquidity Group became the first Israeli firm to join the program in a move that will also see the group open a research and development center in Abu Dhabi, where it intends to develop machine learning-enabled (ML) LendTech solutions for its underwriting business.
The global credit automation specialist, which also has offices in New York, Miami, London, Tel Aviv and Singapore, will further contribute to Abu Dhabi’s wider FinTech ecosystem by building a new center of excellence for enterprise ML to support other startups in the city in applying its credit-decisioning technology.
Finally, Liquidity said that it will engage with Abu Dhabi-based…
