After two thrillingly eventful days, World Fintech Show concluded with a significant breakthrough in the Saudi Arabian Fintech market.
The event focused heavily on exposing the potential of Saudi Arabia’s fintech sector. World Fintech Show helped in establishing strategic alliances aimed at transforming the financial services industry for the foreseeable future.
Some of the biggest names and most brilliant minds in the fintech and financial services attended Trescon’s World Fintech Show held at the InterContinental in Riyadh.
This event was organized by Performance Ryada Events and managed by the global business events and consulting firm, Trescon.
World Fintech Show, which is renowned for its insightful panel discussions, featured discussions on topics like ‘Open Banking today to Open Finance tomorrow,’ ‘Moving towards a cashless society,’ ‘Regulatory compliance with FinTech legislation,’ ‘Leveraging Big data, AI & Machine Learning across Fintech’ and ‘Tackle real-world industry challenges to build a Fintech start-up with a viable business model.’
Launch of Finactics Studio
World Fintech Show served as a platform for Revival Labs, and Arbah Capital to formalize their alliance and announce the launch of their joint venture, Fintactics Studio.
Fintactics will focus on assisting internal businesses and investing in cutting-edge, high-growth fintech ventures throughout the Kingdom, Middle East, and North Africa (MENA), and the rest of the world. Fintactics is supported by a 150Mn SAR CMA-sanctioned VC fund.
Partnership Agreement of Fintactics & Aion Digital
Aion Digital, a digital banking platform that strives to revitalize banking through customer-centric digital transformations will work with Fintactics to shape the financial landscape of the future. Both companies will jointly develop and expand important digital products in the GCC and MENA.
“As a venture builder specialized in fintech, we seek to make Fintactics Ventures the initiator and supporter of rapid growth in the sector on solid foundations creating an attractive environment for competition and entrepreneurship by providing resources and capabilities through cooperation to accelerate the development process in startups, and be among the recent organizations to strengthen the national ecosystem in the field.”
Signing of Reg-Tech (Lezaam) JV agreement
A new joint venture between Fintactics and Aion Digital, ‘Lezaam’ will offer RegTech-as-a-Service with all features and capabilities required for digital onboarding and eKYC from journey orchestration, compliance, AML screening, and digital forensics.
Partnership Agreement between Fintactics & Bitfy Holdings
Fintactics has invested in Bitfy Holdings, a Brazilian-based venture pioneering “Blockchain as a Service” to offer tokenization of illiquid assets. Fintactics will be able to localize blockchain tokenization and securitization technologies of physical and illiquid assets.
Launch of Holoul
Holoul is a digital mortgage platform that focuses on facilitating and enhancing homeownership. The numerous market dynamics and political encouragement from ministries were the driving forces behind this. In addition, it’s a marketplace where customers can find a variety of luxury home products that suit their demands.
Apart from these momentous memoranda of understanding (MoU) signings, the event also witnessed an excellent mix of back-to-back panel discussions, keynote speeches, use cases, and exclusive networking opportunities.
Mr. Mithun Shetty, CEO of Trescon, noted that, “The event opened business opportunities for companies in the fintech space, offering them the opportunity to network with potential customers and partners, as well as to showcase their products and services. It also provided a platform for educational and knowledge sharing sessions, featuring industry experts and thought leaders, as well as a showcase of innovative technologies, products, and services.”
“Attendees had the chance to learn about the latest trends and developments in the fintech industry, as well as gain insights on how to successfully launch and scale their businesses,” Mr. Shetty added.