Today marks the start of the inaugural “Fintech 24” international conference in Riyadh.
Hosted at the Riyadh Front Exhibition & Conference Center, this three-day event focuses on supporting the thriving fintech community. Topics include AI and machine learning in finance, embedded finance, open banking evolution, and green finance.
“Fintech 24” is an annual conference overseen by the Financial Sector Development Program and organized by Fintech Saudi and Tahaluf. The event aligns with Saudi Arabia’s Vision 2030 goals to foster entrepreneurship and make the kingdom a leading fintech hub in the MENA region.
The conference features global experts discussing the latest trends and innovations in fintech. It also includes a special “Fintech Innovation Hub” showcasing 80 innovative startups and over 200 investors. The “Fintech Startup Competition” offers substantial awards, and an AI-powered platform connects investors with startups for insightful discussions and networking.
The event will feature over 200 speakers and a variety of platforms for learning and collaboration, including keynote speeches, panel discussions, and roundtables. Key areas of focus include governance, regulation, payment system interoperability, investment, and the redefinition of financial services. Topics like AI, machine learning, contactless payments, cybersecurity, green finance, and smart contracts will also be discussed.
An entrepreneurial bootcamp titled “From Start to Leadership” will conclude the event, offering exclusive training for aspiring fintech entrepreneurs in Saudi Arabia.
The conference aims to leave a significant impact on the fintech sector, offering more than 175 hours of specialized content. It expects to attract over 26,000 participants, 200 speakers, 300 exhibitors, and 200 investors, making it a key platform for collaboration among regulators, policymakers, investors, tech experts, entrepreneurs, and academics.
Global fintech leaders, including Visa, will participate, alongside notable figures from regulatory bodies in Hong Kong and Singapore. The event will explore AI, machine learning, financial inclusion, digital financial services, and cybersecurity, highlighting their applications and impacts.
The “Fintech Trends” platform will focus on key trends reshaping the financial sector, while the “Future Horizons” forum will host academic discussions and talent development meetings. The “Invest with Innovation” platform aims to explore opportunities and share experiences between founders and investors.
Globally, fintech continues to attract significant investment, with venture capital flows to fintech companies estimated at $35.45 billion in 2023. Despite a decline from previous years, digital payments remain the largest segment, driven by mobile payment solutions and digital wallets. Decentralized finance and AI-driven financial services also see rising investments.
The United States leads in fintech investments, focusing on innovative payment and financial analytics solutions. Asia, particularly China and India, is seeing growing interest in digital payment and decentralized finance innovations. Europe also reports increased investments, particularly in digital finance and tech-focused startups.
Saudi Arabia aims to become a global fintech hub, with its Financial Sector Development Program fostering a supportive environment for fintech companies. The kingdom has surpassed its 2023 target with over 216 active fintech companies.
