The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), has launched DFSA Connect, a next-generation platform designed to streamline and accelerate the application process for authorisations and regulatory approvals. The new digital service, unveiled at the GITEX tech and AI event, makes applying to conduct Financial Services in and from the DIFC faster, simpler, and more efficient for prospective firms.
The platform’s launch responds to significant growth in demand for the DIFC. The DFSA reported an 18 per cent increase in applications for Authorisation during the first three quarters of the year. By making the application process easier for firms, DFSA Connect is expected to provide an estimated 33 per cent efficiency gain for the regulator, resulting in faster turnaround times for applicants seeking authorisations and approvals.
Smarter automation for faster setup
DFSA Connect uses smarter automation and streamlined workflows to create a more applicant-friendly online system, successfully reducing manual steps and common delays. This digitalisation is a core part of the DFSA’s commitment to enabling responsible and customer-centric innovation while ensuring new firms meet the DFSA’s high regulatory standards.
The platform is also built for the future, with capabilities that pave the way for advanced artificial intelligence (AI) integration. The future plan is to use AI to personalise the applicant experience with tailored and enhanced services, ensuring every interaction is seamless. These future enhancements are intended to further accelerate the approvals process, modernising the DFSA’s approach and ensuring the DIFC remains competitive on the global stage.
Juma Thani Alhameli, chief operating officer of the DFSA, positioned DFSA Connect as a significant strategic step. “DFSA Connect represents a step-change in how we support innovation and growth in the DIFC,” he said. Alhameli explained that by deploying cutting-edge digital capabilities and preparing for advanced AI integration, the regulator can “respond faster, operate smarter, and deliver tailored solutions that meet the evolving needs of individuals and businesses alike – deepening trust with current firms and broadening opportunity for prospective ones.”
The launch of DFSA Connect is the result of a comprehensive digitalisation journey by the DFSA over the past year, which redefined its technological blueprint to deliver a more efficient, applicant-friendly online experience. It underscores the regulator’s commitment to responsible innovation and strengthening Dubai’s position as a world-class centre for finance and technology.