JoPACC and Al-Hussein Technical University (HTU) sign an MoU to empower youth creativity in the field of financial technology

In a joint endeavor to realize the 2022 Economic Modernization Vision, the Jordan Payments and Clearing Company (JoPACC) and Al-Hussein Technical University (HTU) signed a memorandum of understanding (MoU), in order to enable innovators and entrepreneurs in the financial technology (fintech) sector to create innovative products and services that advance digital transformation within the Kingdom and raise financial inclusion to ultimately reach a sustainable digital economy.

This memorandum comes to provide HTU university students with the opportunity to benefit from the student-centric program within JOIN Fincubator, JoPACC’s newly established fintech incubator. The program, which targets university students in Jordan, is divided into four specialized programs: the Research Program, the Creative Project Development Program, the Training Program, and the Hackathon Program.

The agreement was signed by Ms. Maha Bahou, CEO of the Jordan Payments and Clearing Company (JoPACC), and Prof. Dr. Ismail Al-Hanti, President of Al-Hussein Technical University. During the signing ceremony, Ms. Bahou stressed the importance of signing this agreement due to her absolute belief in the potential of the youth and the need to provide them with the necessary knowledge and tools to unleash their potential and creativity in the field of financial technology. She also emphasized the importance of providing specialized programs targeting university students in particular, to help them develop their fintech ideas, innovations, and projects.

For his part, Mr. Al Hanati expressed his happiness with this cooperation, stressing that it will be a milestone in the university's efforts to support the education sector and promote innovation in the field of financial technology. He added that through this partnership with JoPACC and JOIN Fincubator, the university would be able to provide students with the tools, resources, and training they need to succeed in the local and global labor market.

It is worth noting that JoPACC is a private shareholding company owned by the Central Bank of Jordan and all the banks operating in Jordan. In addition to operating and developing several payment systems within the Kingdom, JoPACC develops innovative digital financial solutions and produces and disseminates knowledge and business analytics in the financial sector to raise awareness and enhance financial inclusion in Jordan. Additionally, JoPACC also invests in enabling and empowering fintech innovations through its newly established unit JOIN Fincubator, which was launched in November 2022.

JOIN Fincubator, a one of its kind fintech incubator in Jordan, allows innovators and entrepreneurs to examine and test their products and services by providing access to infrastructure, a sandbox, and specialized systems which offer a simulated testing environment fully and accurately. JOIN Fincubator provides various other services, including access to experts who provide mentorship and training in varying topics. JOIN Fincubator additionally facilitates access to investors and partnerships, enabling its participants to launch their products and services in the local and global markets.