Saudi Arabia’s fintech industry has surged over the past years, with the number of companies operating in the sector more than doubling in 2023 compared to the end of 2022, Ayman Al-Sayari, governor of the Saudi Central Bank (SAMA), told Arab News in September 2023.
A total of 89 fintech companies operated in Saudi Arabia as of the late 2022, a number that soared to over 200 companies by August 2023, he told the media outlet. This figure surpasses the central bank’s initial expectation of reaching 150 fintech companies operating in Saudi Arabia by the end of 2023, making the country well on track to achieve its goal of hosting 525 fintech companies by 2030.
The statement came on the heels of the release of SAMA’s fintech report, an annual industry report which offers an overview of the state of the Saudi fintech landscape, highlights the progress made so far, and shares the central bank’s ambitions for the future of the sector.
These targets include increasing the share of non-cash transactions to 70% by 2025, and boosting venture capital (VC) investments in Saudi fintech companies from SAR 232 million (US$61.9 million) in 2021 to SAR 12.2 billion (US$3.2 billion) by 2030. The central bank also wants to raise the contribution of the fintech sector to Saudi Arabia’s gross domestic product (GDP) to reach SAR 13.3 billion (US$3.5 billion) and create more than 18,000 jobs by 2030.
To achieve these ambitions, the government has launched several initiatives including Fintech Saudi, a hub which runs acceleration programs, career fairs and more; a fintech regulatory sandbox, which allows industry participants to test innovative products and business models; as well as a SAR 300 million (US$80 million) fund to support fintech startups.
With the fintech industry in Saudi Arabia continuing to grow and evolve, numerous conferences and events are being organized to facilitate networking and knowledge exchange among industry professionals. Today, we delve some of the most prominent fintech events in Saudi Arabia scheduled for in H2 2024, shedding light on their key themes and highlights.
Fintech Revolution Summit
June 03 – 04, 2024
Radisson Blu Hotel, Riyadh, Saudi Arabia
The Fintech Revolution Summit, organized by TraiCon Events, will take place on June 03 and 04, 2024, at the Radisson Blu Hotel in Riyadh. Positioned as a premier fintech event, the summit is expected to convene hundreds of experts from the banking, financial services and insurance sector, and fintech leaders, to explore trends in fintech and investment opportunities within the finance sector.
The Fintech Revolution Summit is hailed as a convergence of visionaries, offering a platform for discussions, opportunities exploration, and celebration of transformations in the BFSI sector. The event will feature engaging conversations with industry pioneers, providing insights into fintech trends, investment opportunities, and navigating the evolving finance landscape. Moreover, the summit will emphasize collaboration between tech buyers and solution providers to drive business advancement through transformative technology decisions.
Attendees are expected to include CFOs, heads of digital payment, IT, fintech, retail banking, customer experience, angel investors, heads of anti-money laundering (AML), and financial regulatory heads.
Additionally, the summit will attract fintech and banking technology solution providers, cybersecurity firms, e-payment and wallet companies, threat management entities, foreign exchange (FX) software providers, and payment gateway companies as sponsors or exhibitors, who will be showcasing their innovations and solutions for the future of finance.
Fintech Future Summit Riyadh
June 04, 2024
Marriott Airport, Riyadh, Saudi Arabia
The Fintech Future Summit Riyadh is a gathering of industry leaders, innovators, and visionaries shaping the future of financial technology. This conference is a unique platform that brings together key stakeholders from the fintech ecosystem to exchange ideas, showcase cutting-edge solutions, and explore opportunities for collaboration.
This year’s edition will offer attendees the opportunity to network with like-minded individuals globally, stay updated on the latest financial services news and fintech trends, explore investment and partnership opportunities, present and discover new industry innovations, develop a lead generation pipeline, streamline business processes, collaborate with potential clients, educate teams on innovations and opportunities, increase brand visibility, and expand financial businesses.
The conference agenda includes keynote sessions, panels, networking breaks, fireside chats, and closing remarks, covering topics such as unlocking Saudi Arabia’s fintech potential, the digital payments revolution, Islamic banking, insurance sector innovations, application programming interfaces (APIs) and open banking, cyber defense, AI and machine learning (ML) in fintech, financial inclusion, funding strategies, and future fintech trends.
Digital Transformation Summit
June 05, 2024
Crowne Plaza Riyadh Minhal, Riyadh, Saudi Arabia
The 30th edition of the Digital Transformation Summit, co-located with the Saudi Manufacturing Show, is part of a global series of events which has taken place in more than 10 cities across multiple continents over the past few years.
This year’s edition is set to bring together 300+ C-level executives, directors, and heads of technology to discuss the potential of AI, Web 3.0, the Internet-of-Things (IoT), quantum computing, cybersecurity and other fourth industrial revolution (4IR) technologies.
Attendees can expect engaging discussions, collaborative workshops, and valuable insights from renowned innovation and technology experts, including regional pioneers and leaders, sharing real-world use cases and practical perspectives. The summit will also offer opportunities for collaborative partnerships, enabling industry peers to collectively shape the future and exchange experiences.
24 Fintech 2024
September 03 – 05, 2024
Riyadh Front Exhibition and Conference Center, Riyadh, Saudi Arabia
24 Fintech 2024, scheduled from September 03 to 05, 2024, at the Riyadh Front Exhibition and Conference Center, invites participants to elevate their fintech journey by leading and innovating within the sector. With over 300 exhibitors, 200+ speakers, including 200+ investors, and an anticipated 30,000 visitors, this event is expected to offer a dynamic and collaborative environment to discover emerging trends, explore the latest fintech solutions, and connect with industry stakeholders.
24 Fintech 2024 will feature global thought leaders across finance, policy, technology, investment, and academia, covering topics such as fintech regulation and governance, AI/ML in financial operations, contactless payments, Web 3.0 and blockchain, sustainability and green finance, financial inclusion, cybersecurity and big data, embedded finance, smart contracts, voice-enabled payments, digital assets, traditional finance convergence, and open banking.
Key highlights of the event include the Executive Summit, allowing participants to learn, collaborate, and navigate the future of fintech with industry authorities; the 24° Tech Stage, exploring cutting-edge innovations reshaping finance; the 24° Futures Forum, fostering knowledge exchange and career growth for future fintech leaders; as well as opportunities for fintech startups to connect, pitch, and showcase their innovations to industry leaders and potential investors.
Additionally, the event will offer an Investor Program, providing investors with opportunities to make new connections, discover lucrative investment opportunities, and forge partnerships with promising entrepreneurs in the finance sector.
Future Banks Summit and Awards KSA 2024
September 09 – 10, 2024
Riyadh, Saudi Arabia
The 5th annual Future Banks Summit and Awards KSA, slated for September 09 and 10, 2024, in Riyadh, Saudi Arabia, presents an opportunity for the banking industry to reassess existing business models and propel forward into the future amidst phenomenal global changes.
The summit will showcase the latest innovations, practical case studies, and interactive panel discussions tailored to guide the banking sector in Saudi Arabia towards identifying the right strategies to overcome long-standing resistance and become future-ready.
Delegates can expect a power-packed agenda featuring presentations, panel discussions, and keynotes from globally and regionally renowned speakers, panelists, and moderators.
Discussions will revolve around the future of the financial industry in Saudi Arabia, driven by innovation and digital advancements, including AI, digital transformation, digital banking, banking in the metaverse, intelligent automation, regtech, data analytics, cloud migration, cyber security, digital payments models, and tech-driven business continuity planning strategies.
Key highlights of the event include the emergence of Saudi Arabia as a global financial leader, digital transformation as a foundational platform for achieving business agility, the future of digital payments, providing a next-gen seamless banking customer experience, leveraging data and analytics for comprehensive insights, the rise of digital only banks catering to GenZ customers, revolutionizing the money market with neobanks in Saudi Arabia, and experiential banking in the metaverse.
IDC Saudi Arabia CIO Summit 2024
September 18 – 19, 2024
Fairmont Riyadh, Riyadh, Saudi Arabia
The IDC Saudi Arabia CIO Summit 2024, scheduled for September 18 and 19, 2024, at the Fairmont Riyadh, will address Saudi Arabia’s rapid digital transformation journey.
Striving to empower IT leaders, the event will provide participants with insights into their evolving roles in the AI-infused landscape. It will address various topics, trends, and challenges, offering critical insights to adapt to shifting business landscapes, innovate new business models, and scale in today’s dynamic digital economy.
Seamless Saudi Arabia 2024
October 22 – 24, 2024
Riyadh Front, Riyadh, Saudi Arabia
Seamless Saudi Arabia, scheduled from October 22 to 24, 2024, at Riyadh Front, will showcase the latest innovations in payments, fintech, retail, e-commerce, home delivery, and digital marketing. Now in its third edition, Seamless Saudi Arabia 2024 aims to equip attendees with insights and strategies to navigate the evolving landscape of commerce and digital transactions.
The conference, a premium feature of the event, will span three days and host over 350 speakers who will delve into the latest trends, market disruptors, and technologies shaping the payments, fintech, and commerce landscape.
Additionally, the exhibition segment will present over 600 exhibitors showcasing cutting-edge solutions and featuring innovative startups from the region. Attendees will also get to engage in in-person networking opportunities, accessing networking lounges and utilizing a dedicated networking app.
Content themes at Seamless Saudi Arabia 2024 will cover a wide spectrum, including financial inclusion, digital banking, the future of retail experience to the power of omnichannel branding, e-commerce strategies and influencer marketing.
Endeavor Fintech Forward 2024
October 26 – 28, 2024
Riyadh, Saudi Arabia
The Endeavor Fintech Forward 2024 event, scheduled from October 26 to 28, will focus on fostering the fintech community and promoting fintech innovations, highlighting the potential of the fintech sector in the Middle East and North Africa (MENA) region.
Endeavor Fintech Forward 2024 aims to provide valuable opportunities for fintech professionals to connect with peers from various segments such as payments, lending, banking, embedded finance, and infrastructure.
Attendees will get to listen to global insights shared in masterclasses led by fintech champions, participate in intimate workshops and breakouts to discuss tactical and strategic topics with experts, and explore the potential of fintech in MENA through networking sessions and insights from key ecosystem players.
Fintech KSA’24
December 12, 2024
Riyadh, Saudi Arabia
Fintech KSA’24, scheduled for December 12, 2024, in Riyadh, will focus on the fintech, insurtech, wealthtech and regtech sectors. Tailored for professionals working in the financial sector or developing new products for banks and insurance companies, the event will cover a range of topics including blockchain, budgeting apps, crowdfunding, digital money, exchange, investor and brokerage services, contactless and mobile payments, online and mobile banking, peer-to-peer (P2P) lending platforms, P2P payment apps, research, and robo and digital financial advisors.
Fintech KSA’24 is expected to host 20 presenters from leading fintech companies, banks, and insurance companies from the MENA region, EU, USA, and other countries, along with over 150 attendees. The event promises a rich conference program, an exhibition zone, interactive networking sessions, and the Fintech Awards Gulf ceremony.
Featured image credit: edited from freepik
