Saudi FinTech Forum – Where global industry leaders and influencers discuss how financial technology (FinTech) has greatly disrupted the way that banks and financial institutions operate today.
FinTech space is booming and it is constantly challenging financial institutions supremacy. Saudi Arabia is moving towards digital transformation to accomplish Vision2030. In line with the vision Saudi Arabian Monetary Authority is dedicated to make the kingdom FinTech hub and support entrepreneurship.
Understanding the existing scenario in Saudi, we have conceptualized a business initiative “Saudi FinTech Forum” which will bring together FinTech influencers, investors, advisors, regulators, accelerators, hubs and start-ups. It’s a platform to re-educate individuals and inspire them to contribute towards FinTech progress, alongside it will provide a networking opportunity for regional banks, international FinTech companies and partners to promote diverse FinTech activities in KSA.
We interviewed industry experts and advisors of the Saudi FinTech Forum to better understand the rise of FinTech ecosystem in Saudi Arabia.
According to Paul Melotto, CEO, Al Raedah Finance, AI, Machine learning and Big Data and going forward Block Chain & Crypto Currency will evolve locally and globally. Saudi is in the early stages of digital adoption from a Banking and Financial perspective. They have the opportunity to evaluate technology that already has been proven in other markets which should lead to faster implementation timelines.
Alexi Lane, CEO, EverEx, thinks that it’s important to make sure banking partner understands the technology and accompanied challenges. With banks being on conservative side and FinTech on innovation side, the key to success is to find the golden medium in understanding the challenges and solutions. This is only possible if regulators and legislators help bank and FinTech companies to work together on developing and testing real use cases.
One of our esteemed speaker Danish Farhan, CEO, Xische Holdings shared how regulators can facilitate the adoption of FinTech in Saudi. According to him creating regulatory sandboxes for incumbents and new entrants to test the feasibility of new processes in the active market environment. Also, removing roadblocks to collaboration between institutions and start-ups, both local and international.
There are lot more aspects that needs clarity as Saudi Arabia has the opportunity to convert these threefold advantages into tangible leadership on the future of financial technology.
Join us at Saudi FinTech Forum on 26 – 27 November at MOVENPICK to get in-depth knowledge on FinTech and network with key decision makers, policy makers and c-suit executives and develop strong business relationship.