Kearney’s Salah Al Hamawi On Why The Middle East Is The Place To Be For Fintech

If you’re a fintech founder looking for opportunity, Salah Al Hamawi has a message for you: look to the Middle East. 

Speaking to Inc. Arabia at this year’s edition of Money20/20 Middle East, Al Hamawi, who is a Partner at global consulting firm Kearney, pointed out that the region is fast emerging as a global fintech hub—and the opportunity it presents is ripe for the taking. 

According to Al Hamawi, there are three key factors that are responsible for this momentum. “One is the demographic that we see here, i.e. the tech-savvy, young population,” he explained. “Second, the regulators, in terms of the open banking frameworks that are being shared, which drives innovation within the sector. And the third thing [is] the collaboration between banks and fintech, [which] is really driving some of the momentum that we're seeing in this space.”  

For entrepreneurs thus wanting to make the most out of this ecosystem, Al Hamawi said that the most valuable currency they can make use of isn’t capital—it’s connection. “The one advice I would give fintech founders is network, network, network,” Al Hamawi said. “Money20/20 is a great example of a platform that brings together all the different players within the sector—you’ve got banks, regulators, consulting firms, and investors. This really is a forum for you to network, to engage, and really support in driving the momentum that we see in this sector.” 

Check out the full video for more insights from Al Hamawi.