How can UAE banks and digital disruptors accelerate growth in a competitive market?

Experts say the answer lies in going deep rather than wide — targeting underserved, niche segments instead of trying to serve everyone at once. At the Banking Innovation and Technology Summit in Dubai, industry leaders highlighted how focusing on groups such as blue-collar and underbanked workers allows institutions to build specialised products, achieve cost efficiency, and scale profitably. Saadaat Yaqub Bajwa of Kamel Pay noted that nearly half of the UAE’s 10 million population falls into this segment, presenting significant untapped potential, while Vibhor Mundhada of Neopay stressed the importance of balancing niche depth with broad payment accessibility for merchants. Meanwhile, leaders from Vision Bank and Reem Finance emphasised that AI-driven compliance, automated KYC, and supportive regulation from the Central Bank are enabling smaller players to compete with established banks. In a market as dynamic as the UAE, niche specialisation backed by smart technology may be the fastest route to sustainable growth. What are your views — should UAE banks double down on focused segments, or aim to build broader universal banking models to stay competitive?