When banks need to solve an innovation challenge, speed matters – but so does structure. Too often, the process of finding the right fintech, running due diligence, and proving a solution takes so long that the original problem has already changed by the time implementation begins. That is exactly the problem VerityX is trying to address with its new Outcomes for Banks program.

 

In this post, you’ll learn how the program works, why it matters for the UAE banking ecosystem, and what fintechs need to do if they want to get involved. The goal is simple: create a repeatable way for banks and fintechs to work together in a sandbox environment, shorten the path from idea to proof of concept, and make innovation more scalable across the financial services sector.

Why Banks Need a Faster Way to Work With Fintechs

The banking industry is moving quickly, especially in markets like the UAE and wider Gulf region, where digital transformation and AI adoption are accelerating. But the process banks typically use to evaluate and adopt fintech solutions has not kept up. Mark Rothwell-Brooks, who works at VerityX, explained that banks often face a fragmented ecosystem. Each institution may have its own preferred fintech partners, its own evaluation methods, and its own procurement process. That creates friction at every step. In practice, this means a bank first has to define the problem, then identify possible providers, then onboard them, then test the solution in a controlled environment. By the time all that is done, the need may have evolved. That slow cycle is a major issue for both sides:

• Banks lose time and momentum

• Fintechs face a long, unpredictable path to adoption

• Innovation gets stuck in process instead of moving into production

The Outcomes for Banks program is designed to reduce that friction. Instead of a 9 to 12 month cycle, the ambition is to compress the process into 90 days from ideation to proof of concept.

What the Outcomes for Banks Program Actually Does

At its core, the program connects banks with innovation challenges to fintechs that can solve them. But this is not just a loose networking initiative. It is built as a structured, repeatable process with a sandbox model, clear challenge definitions, and a formal route from problem statement to solution testing. Rothwell-Brooks described it as a way to “connect the fintech community with the banks who have innovation challenges” and put them together in a setting where they can “prove and solve those challenges” in a way that is robust and scalable. That structure matters.

In many innovation programs, the conversation stops at introductions or pilot ideas. Here, the aim is to move beyond conversation and into practical outcomes. The program also has backing from the Emirates Institute of Finance, which gives it additional weight in the regional ecosystem. That support signals that this is not just another isolated innovation experiment – it is intended to become part of a wider financial services capability in the UAE. The four-step model The process is designed to be clear for both banks and fintechs:

1. Define the challenge themes

   • Banks and program leaders coalesce around recurring innovation themes.
   • These themes change over time, so the challenge set is designed to be a living calendar rather than a static list.

2. Identify suitable fintechs

   • Fintechs from the UAE, the wider GCC, or globally can be matched to the challenge.
   • The emphasis is on fit, capability, and relevance to the specific problem.

3. Run the sandbox engagement

   • Banks and fintechs work together in a controlled technical environment.
   • The goal is to prove whether the solution can actually address the challenge.

4. Capture the learnings

   • The program produces artifacts that document what worked, what didn’t, and what should be considered if the solution is replicated elsewhere.
   • This includes practical do’s and don’ts, plus a regulatory view where relevant.

Why the UAE Is a Strong Fit for This Model

The UAE is not just a convenient location for this program – it is part of the reason the program makes sense. According to Rothwell-Brooks, the Gulf region is seeing an unprecedented rate of digital and AI adoption. That creates a strong appetite for tools and processes that can help banks innovate faster without sacrificing governance. This is where the program’s repeatable design becomes important. Rather than treating every bank challenge as a one-off, the model creates a repeatable mechanism that can be used at scale across the banking community. That matters for several reasons:

• Banks need speed without losing control

• Fintechs need access to real use cases and decision-makers

• Regulators need visibility into what is being tested and why

• The market needs consistency so innovation can scale beyond individual pilots

There is also a strategic benefit for the region. If the UAE can establish a more efficient bank-fintech collaboration model, it may become a reference point for how innovation programs should operate in other markets. And the ambition does not stop at banking. The first year of the program is expected to focus on the banking community, but there are already plans to look at insurance and then other financial services sectors.

Which Banks and Fintechs Can Take Part?

One of the most interesting things about Outcomes for Banks is how broad its target audience is. VerityX says it is targeting around 50 banks and financial organisations across the UAE, from tier 1 to tier 4 . That includes:

• Large banks with in-house innovation capability
• Mid-sized and smaller institutions that need outside support
• Financial organizations looking to shorten their delivery cycle

That mix is important because the program is not only for institutions that lack innovation capacity. Even banks with strong internal teams can benefit if they want to augment what they already do. What kind of fintechs should pay attention? The answer depends on the challenge. If a bank defines a problem around cybersecurity, onboarding, payments, regulatory operations, or digital workflow, the “right” fintech could come from almost anywhere. The program is open to:

• UAE fintechs
• GCC-based fintechs
• Global fintechs

That global openness is a major advantage. Rothwell-Brooks gave the example of solutions that may already be working in markets like Singapore and could now be adapted for the UAE. In other words, this is not about forcing local-only innovation. It is about bringing the best available solution to the problem, wherever that solution was developed. That also makes the program especially useful for fintechs that have already proven their model in another market but need a way into the Middle East. Instead of trying to sell cold into a bank, they can respond to a known challenge and enter through a structured process.

How Fintechs Can Register and What Happens Next

For fintechs watching from the sidelines, the entry point is straight forward. They register their interest on the VerityX Labs website: verityxlabs.co. The enrollment process is short and designed to capture what the fintech does and where it fits. From there, the platform will show a calendar of upcoming challenges. These are expected to be reasonably locked in three to six months ahead , giving fintechs visibility into what is coming before they commit.

Once a fintech sees a challenge it wants to pursue, it can select it and go through a further review to make sure it is the right match. If it is, the fintech is enrolled into the challenge around six weeks before it starts , allowing time to prepare for the session with the bank. That timeline is important because it makes the process more practical. Fintechs are not left guessing indefinitely, and banks are not asked to improvise on the day. Both sides know what the challenge is, when it will happen, and how they are expected to contribute. This kind of structure is often what makes innovation programs successful.

The best ideas are not enough on their own – they need a clear operating model. What Success Looks Like for the Program The clearest success metric is time. Today, the typical bank innovation process can take 9 to 12 months from problem definition to implementation. That delay is often caused by fragmented decision-making, layered procurement, and inconsistent evaluation standards across institutions. The program’s goal is to bring that down to 90 days.

That is a bold target, but it is also a meaningful one. If banks can move from ideation to proof of concept in three months instead of a year, they can respond to market changes faster, test more ideas, and reduce the risk of investing in the wrong solution for too long. It also changes the relationship between banks and fintechs. Instead of waiting for a long procurement cycle to play out, both sides can focus on whether the solution works. The longer-term vision is even more interesting. Because the engagement with banks is meant to continue constantly, the program becomes a kind of innovation engine:

• New challenges are surfaced regularly
• Banks and regulators help shape the agenda
• Fintechs are matched as those challenges emerge
• Outcomes are documented and reused

That creates a living system rather than a one-time event. Rothwell-Brooks described the challenge as “herding the cats” – finding enough alignment across banks and regulators to act on shared themes without expecting everyone to agree on everything. That is a realistic view of how financial services innovation actually works. The point is not perfect consensus. The point is enough shared priority to get real work done.

Frequently Asked Questions

What is the Outcomes for Banks program?

It is a VerityX initiative that connects fintechs with banks that have innovation challenges. The goal is to test and solve those challenges in a repeatable sandbox environment.

Who can join the program?

Banks, financial organisations, and fintechs can take part. The program targets banks in the UAE across multiple tiers and is open to fintechs from the UAE, the GCC, and globally.

How do fintechs sign up?

Fintechs can register through verityxlabs.co. After a short enrollment process, they can view upcoming challenges and request to participate in the ones that fit their capabilities.

Why is the program focused on 90 days?

The target is to reduce the traditional 9 to 12 month bank innovation cycle to a much faster 90-day path from idea to proof of concept. That speed is intended to help banks respond more effectively to change.

Does the program only apply to banking?

No. The initial focus is banking, but the longer-term plan is to expand into insurance and other parts of financial services.

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Conclusion

Outcomes for Banks is built around a simple but powerful idea: if banks want to innovate faster, they need a better way to connect with the right fintechs and test solutions without getting stuck in a long procurement cycle. By combining challenge definition, fintech matching, sandbox testing, and reusable outputs, the program aims to make innovation more repeatable and more useful for the real world. For banks, that means speed and structure.

For fintechs, it means a clearer route to relevance and adoption. If the 90-day target holds, this could become a strong model for how bank-fintech collaboration should work in the UAE and beyond. Want to follow the program or see how it develops? Visit verityxlabs.co and keep an eye on the upcoming challenge calendar.

 

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