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We go to events and there's six guys having the same conversations every month," jokes David Martinez de Lecea, a management consultant and co-founder of Finerd, a Dubai-based robo-advisory investment manager.In financial centres across the world, fintech has attracted large amounts of investment and even more attention as banks try to maintain their competitive edge and local governments seek to position themselves as hubs for innovation. Last year, global fintech investment more than doubled to $19.1bn, according to KPMG and CB Insights.Moussa Beidas, a former design consultant who now runs Bridg, a mobile payments company in Dubai, launched it three months ago, but the company had been much longer in the making: "It took us two years to be confident enough to release a product that we knew wouldn't get us shut down".His company offers a product for smartphone-to-smartphone payments that uses bluetooth and only requires one of the devices to be online. Peer-to-peer lending start-ups wishing to compete with banks also have to contend with the relative lack of credit scoring or public data on companies.According to Mr Soudodi, PayFort processed $1bn in payments last year.
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