Founded in 2014, Bahraini FinTech startup NEC Payments (NECP) has established itself in several markets across Europe, the Middle East, and some parts of Africa. The company’s relentless push at disrupting the realm of financial technologies was duly acknowledged by the Silicon FinTech Bay (SFB) recently.
SFB, a venture accelerator program by the FinTech Consortium (FTC), accepted the NECP as a resident participant. That’s indeed an encouraging feat for the Bahraini startup as it now enjoys the distinction of being the first international resident at the SFB.
With this new development, NECP will now coordinate with the SFB team to develop products targeted specifically at the US market. In other words, the residency at the SFB will serve as the perfect stepping stone for NECP on its way to mark a strong presence in North America.
For those out of the loop, NECP offers digital banking and payment services through a unique combination of Software-as-a-Service (SaaS) and Banking-as-a-Service. Its solutions come handy in enabling other FinTech entities to come up with new and innovative products for customers.
Speaking on the occasion, Andrew Sims, co-founder, and CEO at NECP said: “This opportunity was a must for us. [….] We’ve been identifying opportunities in the US markets for some time and feel now is the right time to land and expand our business.”
He added: “We’re grateful to have a solid partnership with FinTech Consortium and are delighted to be joining Silicon FinTech Bay, whose international venture accelerator program will help us tremendously as we launch in the States.”