Region's fintech firms struggle to retain ratings

A study by Reputation House revealed that approximately 40% of fintech companies in the Middle East and North Africa fail to maintain their digital trust ratings year after year. The study, which analyzed 52 companies across the UAE, Saudi Arabia, Egypt, and two American firms expanding into the region, found that the leading companies stand out with clean research results free of negative links, with negative link percentages ranging from 0% to 6%, compared to 12% in the broader sector. The study also highlighted that digital reputation is considered a strategic asset in the fintech industry, and trust plays a crucial role in company rankings. Leading firms focus on enhancing their ratings through app platforms, while their presence in employer reputation evaluations is less prominent. Experts surveyed in the study view fintech as infrastructure, whereas users see it as practical tools. The increasing importance of digital reputation management is essential for maintaining competitiveness in a rapidly growing market, where funding has surged by 650% between 2020 and 2023.

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