RIYADH: On the second day of the 24 Fintech conference in Riyadh, professionals and business executives discussed Saudi Arabia’s increasing significance in the global digital scene.
Panel discussions highlighting the Kingdom’s rapid transformation into a fintech powerhouse, driven by technological innovation and regulatory support under Vision 2030, were held throughout the day, attracting the attention of investors, regulators, and innovators.
As part of a larger trend, Saudi Arabia has drawn $1.84 billion in venture capital investments since 2018, funding 216 fintech startups, according to the Small and Medium Enterprises General Authority, or Monsha’at. This development is part of the current state of affairs.
Eze Szafir, CEO of D360 Bank, a company supported by the Public Investment Fund, thoroughly summarised how the Kingdom is setting itself apart in the global fintech ecosystem during a panel discussion titled “The Future of Saudi Digital Banking.Szafir, who has spent over a decade studying fintech ecosystems worldwide, reflected on Saudi Arabia’s unparalleled approach to fostering a vibrant financial technology sector.
He pointed out that, globally, regions such as the UK, Europe, Latin America, and Asia have developed robust fintech environments, but they have yet to achieve the level of integration between various sectors that the Kingdom has.
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