National Bank of Oman Concludes Second Cohort of Fintech Accelerator Program, Empowering Six Innovative Startups
The National Bank of Oman (NBO) has successfully concluded the second cohort of its Fintech Accelerator program, celebrating the graduation of six promising startups specializing in wealth management, digital payments, AI-driven credit scoring, personal finance, and fraud prevention. This strategic initiative is designed to accelerate financial innovation and support digital transformation within the Sultanate of Oman, while offering the participating companies potential investment opportunities of up to $1.8 million.
The program culminated in a 'Demo Day' event attended by representatives from regulatory and government bodies, the Central Bank of Oman, and various financial institutions. The event also drew investors and key players from the entrepreneurial ecosystem, providing the startups with a platform to pitch their technological solutions to potential investors and strategic partners.
The second cohort featured six startups operating across diverse verticals within the fintech sector:
Rushd Capital: A digital investment advisory platform offering Sharia-compliant wealth management solutions.
Payce: A developer of a QR code-based platform for seamless payments and bill-splitting within the hospitality sector.
CardO: A provider of temporary virtual payment cards designed to enhance the security of online transactions.
Cxingularity: A company leveraging Artificial Intelligence (AI) to automate credit decision-making processes.
Bayzati: A developer of personal finance management applications targeting users in Oman and the wider GCC.
Aman: The creator of an automated financial fraud monitoring platform, developed under the "Upgrade" program affiliated with Oman's Ministry of Higher Education, Research and Innovation.
The bank highlighted that over several months, the accelerator provided a comprehensive ecosystem of mentorship, guidance, and development. This environment allowed the startups to test their products, collaborate with financial sector experts, and build direct relationships with investors and financial institutions prior to presenting their solutions at the closing event.
Since its inception, the program has successfully graduated 11 startups across its first and second cohorts, unlocking up to $1.8 million in investment opportunities. Furthermore, the accelerator has supported these companies in validating their market readiness, executing pilot projects, and forging strategic partnerships with established financial institutions.
NBO emphasized that this program is a core initiative aimed at transforming innovative ideas into market-competitive enterprises. By connecting entrepreneurs with investors and key financial sector actors, the bank is actively contributing to the accelerated growth of Oman's fintech ecosystem.
The accelerator aligns directly with the objectives of "Oman Vision 2040," which places innovation, digital transformation, and private sector development at the forefront of its priorities to drive economic diversification and create a highly attractive business environment for startups and entrepreneurs.
The National Bank of Oman concluded by affirming that the Fintech Accelerator program reflects its strategic shift from a traditional banking institution to an active partner in fostering financial innovation. By helping to cultivate a new generation of fintech companies capable of delivering innovative, locally tailored solutions—with potential for future expansion across the GCC—NBO is supporting the development of a more competitive and sustainable digital economy in Oman and the wider region.