24 Fintech Wants to Transform Fintech in MENA, and Beyond

This September will see the launch of a new fintech event set to catalyze the banking and finance industries of the GCC, Middle East, and beyond. 24 Fintech, a groundbreaking summit and exhibition taking place from September 3-5 at the Riyadh Front Exhibition and Conference Center, has huge ambitions. Strongly backed by the Saudi government, the event is designed to become one of the largest fintech conferences in Asia, Europe, and North Africa and will position Riyadh as a leading global fintech capital

Why Riyadh, Why Now?

The fintech sector in the Middle East and North Africa (MENA) region has seen unprecedented growth, driven by rapid consumer adoption and innovative use cases. According to the Worldwide Report from ACI, the Middle East is the fastest-growing real-time payments market globally, with transactions expected to reach $2.6 billion by 2027, representing a CAGR of 30.6 percent. Saudi Arabia is one of the countries at the forefront, leading in transaction volumes.

At the same time, Saudi Arabia's Vision 2030 underscores the kingdom's commitment to transforming its economy through fintech innovation. The plan includes ambitious goals, including the establishment of 525 fintech companies, creating 18,000 fintech jobs, and achieving SAR 13.3 billion in direct GDP contributions by 2027. The rise of fintech is pivotal to this vision, helping to diversify the economy away from hydrocarbons and fostering financial inclusion and stability. The scale of Saudi’s ambition is demonstrated by the weight of government support.

24 Fintech will be hosted by the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), the Capital Market Authority (CMA), and the Insurance Authority (IA), and is co-organized by Fintech Saudi and Tahaluf--a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and the Events Investment Fund.

24 Fintech: The Innovation and Collaboration Platform

The 24 Fintech conference and exhibition has attracted key finance players who are supporting the goals of the Saudi National Vision. Some of the key sponsors at the event include the likes of VISA, J.P. Morgan Payments, and Mozn, among others.

“Fintech Saudi is thrilled to co-organize 24 Fintech, a pivotal event aimed at cementing Saudi Arabia’s position at the forefront of global financial services discussions. 24 Fintech is an important milestone in advancing the Saudi fintech industry and is consistent with our vision to position the kingdom as a leading global fintech hub,” said Nezar Alhaidar, CEO at Fintech Saudi.

As a first-time event, 24 Fintech is slated to attract more than 26,000 attendees, 300 exhibitors, over 300 speakers, and more than 350 investors. The summit will feature 175 hours of expert-led content, including panel discussions, roundtables, and industry announcements--a program that can easily go head-to-head with existing fintech powerhouse events.

Bringing their collective expertise across the four stages at the event are leading speakers including H.E Mohammed Al Jadaan, Saudi Arabia’s Minister of Finance and Chairman of the Financial Sector Development Program Committee. He will be joining other prominent speakers such as Peng Yang, CEO at Ant International; Jean Pesme, Group Director of Finance, The World Bank; Abdulmajeed Alsukhan, co-founder and CEO at Tamara; Mohamed Mansour, head of GCC and UAE region at Remitly; Ramkumar Balasubramaniam, chief financial officer of Middle East and Africa at Barclays; and Ali Khan, chief data officer and SVP at Experian.

Annabelle Mander, Tahaluf’s Senior Vice President, is excited at the growth prospects that 24 Fintech is going to unlock. “We are setting the stage to bring together the international fintech community to explore the latest trends and innovations in the industry. Saudi Arabia is currently undergoing a dynamic transformation into a global fintech powerhouse, which makes it the ideal market to hold an event of this caliber,” said Mander.

Where Solutions Confront Challenges

The summit will address pressing fintech industry issues, including Governance, Risk and Policy, Cybersecurity, Global Interoperability, and Innovation in Payments. High-level speakers and industry leaders will confer about the opportunities and challenges posed by the global financial system and evaluate the innovative technology available to bring value and further develop the industry. Attendees, including central bank governors, regulators, policymakers, and representatives from financial and non-financial institutions, will have much to explore in the networking sessions, leading to potential strategic partnerships.

"The future of fintech in the MENA region is set to be extraordinary, with Saudi Arabia at the forefront of this revolution, powered by its advanced digital infrastructure and visionary fintech ecosystem. At MONEYMOON, we're pioneering the first consumer P2P lending platform globally and our innovation is a testament to the kingdom's visionary digital infrastructure. For us, 24 Fintech is not just an event, it's the launchpad for a new financial era, where we aim to reshape how the world thinks about personal finance,” said Abdulmajeed Alaskar, CEO at MONEYMOON, which will be participating in the summit.

Changing Consumer Habits and Emerging Trends

The MENA region's changing consumer habits driven by its tech-savvy youthful population are spearheading the emergence of new fintech products and services. International companies are expanding their footprint in the region, offering innovative solutions to meet the evolving needs of consumers and businesses while regional disruptors are bringing transformative products to market. The event will showcase these trends, highlighting opportunities for growth and investment.

The comprehensive 24 Fintech program expands beyond the main summit to specialist feature stages and forums which combined will bring together regulators, policymakers, investors, technologists, academics, and entrepreneurs to foster sector change.

The 24° Trends Stage will explore the latest technologies reshaping finance, while the Futures Forum stage will be a hub for academic discussions and talent development. The Fintech Fusion stage will be where investment meets innovation, providing a platform for founders and investors to share experiences.

Startup Zone will be a dynamic space for networking, pitching sessions, competitions, and demo showcases that will run parallel to the Investor Program--a venue for unearthing lucrative opportunities and making connections with visionary entrepreneurs.

“An event of this magnitude is critical for organizations that are looking to significantly contribute to Saudi Arabia’s Vision 2030. It will help us not only to connect with the right audience, gain insights, and meet key industry leaders, but will also enable us to showcase our cutting-edge AI-driven products and solutions for the financial industry, which are designed to enhance operational efficiency, boost productivity, and keep our clients ahead of the competition,” said chairman and co-president at Dyna.Ai Tomas Skoumal.

For more information and to register for 24 Fintech, please visit www.24fintech.com