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The Middle Eastern state continues to harness financial services as an asset, moving to modernise its payments infrastructure through a public-private initiative involving the deployment of artificial intelligence (AI). 

The Central Bank of the United Arab Emirates (CBUAE) and Presight, an AI and big data analytics company, have  the launch of a strategic joint venture to deliver AI-powered platforms and services for the UAE’s core payment and financial systems.

The development reflects the UAE’s ambition to become a global leader in payments – and financial services more broadly – by creating a modern, forward-looking infrastructure that appeals to investors, banks and fintechs.

His Excellency Ebrahim Obaid Al Zaabi, assistant governor for monetary policy and financial stability at the CBUAE, welcomed the agreement, calling it a key step in strengthening the UAE’s financial resilience and technological leadership.

“This collaboration marks a strategic step toward ensuring the UAE’s financial market infrastructure remains resilient, secure, efficient and future-ready, while also supporting the accelerated transformation of the financial sector,” he said. 

“By leveraging the leading role of the CBUAE’s Financial Infrastructure Transformation Programme and the technological expertise of Presight, this venture will strengthen the financial ecosystem of the UAE and the national economic stability, thereby enhancing the country’s position as a global financial hub.”

Modernising via AI

Presight, which is part of Abu Dhabi’s G42 group, brings with it extensive experience in AI alongside data science and platform engineering. 

The new entity will support the implementation of the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, and will take responsibility for the development, maintenance, and technical support of key national infrastructure. 

This includes the Aani instant payments platform, the Jaywan domestic card scheme, the National Card Switch, and the Real-Time Gross Settlement (RTGS) system, as well as platforms for central bank digital currency (CBDC) and open finance (Nebras).

The FIT programme, launched by the CBUAE in early 2023, forms part of the UAE’s broader economic transformation agenda.

The venture marks a significant step in the UAE’s push to modernise its financial ecosystem by embedding AI across the country’s critical systems. 

It aims to enhance the security, resilience, and efficiency of payment and settlement infrastructure, and in parallel support the country’s ambition to position itself as a leading global financial centre.

This has become a more realistic prospect since the UAE was removed from both the Financial Action Task Force’s (FATF) grey list and the  at high risk of money laundering and terrorism financing.

“This joint venture represents a decisive leap forward in applying advanced AI to the heart of the UAE’s financial infrastructure,” said Thomas Pramotedham, CEO of Presight.

He added that “it is purpose-built to accelerate innovation, enhance resilience, and ensure the seamless evolution of critical financial systems”. 

“By focusing exclusively on AI-driven financial solutions, we are creating a sovereign finance technology powerhouse that will redefine how financial markets operate, faster, with applied intelligence, and more securely than ever before.”

UAE’s ambitions are clear

The joint venture between the CBUAE and Presight is both strategically beneficial and significant in showcasing the country’s clear digital and financial ambitions. 

It aligns with national transformation goals and AI roadmaps outlined in the country’s digital transformation , embedding emerging technologies into the core of the financial system.

The goal is to accelerate competitiveness, sustainability and long-term growth for the Gulf state. 

Internationally, the initiative also reinforces the UAE’s ambition to become a global leader in fintech and financial innovation. 

By investing in advanced, sovereign infrastructure, the country is creating a more attractive environment for global investors, banks and technology providers.

This also enhances the UAE’s sovereignty over its financial infrastructure by reducing reliance on foreign networks and strengthening resilience against external shocks, echoing the concerns of other jurisdictions such as the EU. 

Ultimately, the joint venture structure reflects a strategic approach that balances public-sector control with private-sector agility. 

It allows the CBUAE to maintain oversight of critical infrastructure while leveraging Presight’s AI and big data expertise.