Israeli fintech company Liquidity Group joins ADIO's innovation programme

At the Abu Dhabi Fintech Week, Israel-based fintech company Liquidity Group announced it will be setting up a research and development centre in the UAE by joining Abu Dhabi Investment Office's (ADIO's) $545 million innovation programme. The company will also set up an R&D centre at Abu Dhabi Global Market.

The centre will focus on developing machine learning (ML) technology for various underwriting businesses. The company will be receiving competitive financial incentives and support from ADIO, which launched the innovation programme in 2020 to support companies with incentives to help them grow their business.

At the Abu Dhabi Fintech Week, Abdulla Al Shamsi, Acting Director-General of ADIO, said the Liquidity Group will be a strong addition to Abu Dhabi's financial services ecosystem. He added the partnership will also work to strengthen and deepen the relationship between the markets of Israel and UAE.

Liquidity Group also aims to build a centre of excellence in enterprise ML to support other startups within the programme. The company will work with universities in the region for certifications and training programmes on ML.

Dhaher Al Mheiri, CEO of ADGM Registration Authority, said that the organisation will continue to support the efforts of ADIO to establish the Emirate as a hub for knowledge and R&D. The ADIO also has an office in Tel Aviv to support different Israeli companies that are looking at Abu Dhabi.