The Innovation Program of the Abu Dhabi Investment Office signed a partnership agreement with the “Quidity Group” for financial technology, and the first Israeli company to join the program, which has a budget of 2 billion dirhams ($ 545 million). The partnership aims to support the Liquidity Group to establish a research and development center in Abu Dhabi to develop a technology-enabled underwriting algorithm and other financial solutions. The agreement was signed by Eng. Abdullah Abdulaziz Al Shamsi, Acting Director General of the Abu Dhabi Investment Office, and Ron Daniel, CEO of Liquidity Group, during Abu Dhabi Financial Week 2022, which is organized by the Abu Dhabi Global Market, the international financial center of Abu Dhabi. The event attracts a wide global presence of experts and makers. The decision to accelerate financial transformation in the emirate. Established in 2018, the Liquidity Group has become the fastest growing lender in the mid-market and mid-market segment, by fully automating the debt lending cycle. The company, with its patented machine learning technology and decision science, was able to deploy more capital through faster transactions than any company in the history of capital markets. The Abu Dhabi Investment Office has granted the Liquidity group competitive financial incentives, and will support the company with additional non-financial incentives throughout the partnership period. The group’s expansion in Abu Dhabi will benefit from the emirate’s extensive R&D support network, access to local talent, and a time zone that overlaps favorably with global markets. Eng. Abdullah Abdulaziz Al Shamsi, Acting Director General of the Abu Dhabi Investment Office, said: “The Liquidity Group is a strong addition to the financial services system in Abu Dhabi, as it will provide extensive experience in the field of machine learning to develop the project finance scene. By focusing on locally appropriate solutions that can be exported globally, the technology developed in the emirate will contribute to supporting emerging companies in Abu Dhabi and the region. The partnership between the two parties will also strengthen cooperation between the UAE and Israel, with the two countries’ markets seeking to adopt innovation-driven technologies and activities with a long-term impact. The Abu Dhabi Investment Office, through the innovation program, will support the Liquidity Group in initiatives that build machine learning capabilities in Abu Dhabi, while the group’s research and development center will focus on developing machine learning-enabled lending technology solutions for its underwriting business and will establish a “center of excellence”. in Machine Learning for Enterprise” to support other startups within Abu Dhabi in applying the group’s methodologies and models, in addition to the latter’s work and cooperation with Abu Dhabi universities to develop educational training programs and certificates focused on machine learning. For his part, Ronnie Daniel, CEO, Liquidity Group, said: “Apart from my personal enthusiasm for implementing the Abraham Accords on the ground and developing the growing relationships, friendships and partnerships in the UAE, I have always believed that the UAE, and the Abu Dhabi Global Market, in particular, They are the best places in the world to develop and scale technology companies. Thanks to our partners in the Abu Dhabi Investment Office, our new research and development center is growing rapidly and is rapidly being filled with some of the world’s best talent. We look forward to developing our partnership with the Abu Dhabi Investment Office to benefit all areas of technology in the UAE.” The Liquidity Group will establish its R&D center in Abu Dhabi Global Market, which offers a favorable regulatory environment, supported by an advanced financial services infrastructure. This partnership strengthens the position of the UAE capital as a leading financial center, which includes a number of the largest sovereign wealth funds in the world, and is a thriving financial exchange, and an international financial center whose record is replete with many awards. Dhaher bin Dhaher Al Muhairi, CEO of the Abu Dhabi Global Market Registration Authority, said: “We are pleased with the position that the Abu Dhabi Global Market enjoys, and for choosing it as a preferred destination for a promising research and development center specialized in stimulating innovation in the field of contemporary finance, and providing a distinguished work environment for the growth and prosperity of this sector.” emerging ».
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