RIYADH — Fintech Saudi has successfully completed «Fintech Tour 18» recently. Covering the Kingdom›s Central, Western and Eastern regions, Fintech Tour 18 aimed to spread knowledge and raise awareness about financial services technology as part of Fintech Saudi’s ongoing efforts to transform Saudi Arabia into an innovative fintech hub.
Fintech Tour 18 is considered the biggest collection of fintech events to be organized in the Middle East. The Tour was supported by 18 public and private sector partners led by the Saudi Arabian Monetary Agency (SAMA), the Capital Market Authority (CMA), Badir Incubators, King Fahd University of Petroleum and Minerals, 6 Saudi banks including Samba, SABB, Inma Bank, Alawwal Bank, Banque Saudi Fransi, and Bank Aljazira, the global technology partner Microsoft and a number of national and regional fintech companies.
Fintech Tour 18 consisted of 21 presentations, workshops and digital bank tours across 7 cities. In addition to overviews and introductions to fintech, there were also presentations on in-depth topics such as block-chain, artificial intelligence, payments and crowdfunding. A workshop was also jointly organized in Riyadh by Fintech Saudi, SAMA, and CMA to review the fintech regulations applied in the Kingdom. Many discussions were held during the workshop that was attended by more than 120 participants from the fintech community.
The Fintech Tour also showcased a number of demos including the first transaction to be conducted through a Blockchain ATM by Ateon and the latest technology to be used in digital branches. In addition, Bank AlJazira launched “Noor Innovations Competition» to support fintech entrepreneurship with total prize money of SR200,000 including a first prize of SR80,000. The competition is currently open for applications.
Aligned with Vision 2030 and the Financial Sector Development Program, Fintech Tour 18 is part to Fintech Saudi’s efforts to bring together public and private sector institutions to promote a culture of innovation in the financial services sector across Saudi Arabia. This will also contribute towards diversifying the local economy, support the growth of small and medium enterprises in the field of financial technology and the development of fintech products and services that support all small and medium enterprises in Saudi Arabia.
Fintech Tour 18 was opened to all members of the public that were encourage to register for free for events through dedicated links posted on the Company›s official website and via Social Media. Fintech Tour 18 events were attended by over 1,000 participants across the Kingdom. — SG
