German online-only challenger bank Fidor has launched an office in Dubai to expand its services to companies in Asia, Africa and the Middle East.
The move is part of Fidor’s plans to expand internationally, and follows the launch of the bank’s UK operations last year.
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The bank secured its banking license in 2009 and recently partnered with Telefonica Germany to launch the O2 Banking mobile banking service.
The bank has been utilising social media, crowdfunding, P2P lending and digital currency services to build its business.
Fidor CEO Matthias Kroner said: "For a while now we’ve seen a significant increase in the number of enquiries from companies in Asia, Africa and the Middle East wanting to improve their digital services.
"It was only a matter of time before we began expanding our business to other countries. The Dubai Silicon Oasis is an ideal location for this project, because it’s one of the biggest free zones in the Middle East, with more than 1,000 companies already installed."
To lead its Dubai operations, the bank has also appointed Ge Drossaert as its new managing director. Drossaert has over two decades of experience in finance and IT.
"With Gé Drossaert we’ve attracted a highly experienced banking professional from the world of financial IT. He will take over the key responsibilities in Dubai, playing an active role in implementing and developing the national and international sales strategy", Kroner said.
