Designed to be one of Asia, Europe, and North Africa’s premier annual fintech events, 24 Fintech is hosted by Saudi Arabia’s Financial Sector Development Program (FSDP), the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), and the Insurance Authority (IA). Featuring 175 hours of expert-led content, the conference aims to rival some of the world’s best fintech gatherings. It is expected to attract over 26,000 attendees, 300 exhibitors, and 200 investors.

Co-organised by Fintech Saudi and Tahaluf, 24 Fintech will unite regulators, policymakers, investors, technologists, and academics, and provide a platform for global industry stakeholders to shape, foster, and spur collaborative fintech transformation.

Commenting on the industry, H.E. Mohammed ElKuwaiz, Chairman, the Capital Market Authority said: “The Fintech sector is a crucial driver for enhancing and developing the efficiency of financial products and services, aligning with the current technological revolution and serving the Kingdom’s developmental and economic goals. The Saudi Capital Market Authority’s co-hosting of the ’24 Fintech’ summit will bring together key stakeholders to foster innovation and development, and create diverse financing and investment opportunities. Our involvement reaffirms our commitment to creating a vibrant, transparent, and resilient financial ecosystem that meets the highest international standards.”

24 Fintech brings the titans of the finance world to Saudi Arabia, with central bank governors featuring in the speaker line up alongside leaders from regulatory authorities across the Middle East, key global banking and finance players and fintech pioneers.

“Financial innovation and Fintech enablement is pivotal to the ongoing transformation of Saudi Arabia’s economy. The Saudi Central Bank’s (SAMA) participation in co-hosting the 24 Fintech conference underscores its commitment to adopting advanced and innovative solutions, bringing added value to the economy in a manner that encourages competitiveness in Saudi Arabia’s financial market while maintaining the stability and resilience of the financial sector as key enablers for the success of any economic transformation,” said H.E Ayman Al Sayari, Governor, Saudi Central Bank.

The event’s format has been designed to enhance the experience of investors, startup entrepreneurs and academia alike. 24 Fintech will run a Startup and Investors’ Zone known as the “Fintech Fusion Hub” to convene 80 of the most exciting and innovative startups and 200+ investors. Selected startups and investors will collaborate across a thought-provoking agenda on the Fintech Fusion stage, with AI-enabled matchmaking and access to expert-led mentorship.

Speaking on their participation, H.E Abdulaziz AlBoug, Chairman, Insurance Authority said: “The Insurance Authority is excited to back the inaugural edition of 24 Fintech, recognising the crucial role of digital transformation in the evolution of the insurance sector. This event will facilitate the integration of innovative technologies, enhancing the quality and reach of insurance services across the Kingdom. By promoting technological advancements and encouraging innovation, we aim to ensure sector stability, policyholder protection, and sustainable growth. The summit will be instrumental in driving the digitalisation of insurance, supporting our mission to lead in enabling technology and contributing to the goals of the Kingdom’s Vision 2030.”

The 24° Trends Stage will deep dive into the trends and technologies reshaping finance while the Futures Forum Stage will host academic discussions and talent development. Fintech Fusion will be where founders and investors can share experiences and explore opportunities.

“Saudi Arabia’s Vision 2030 makes clear its goals for fintech leadership. It envisages the establishment of at least 525 fintech companies, the creation of 18,000 fintech-related jobs, and a GDP contribution of SAR 13.3 billion by 2030. These objectives signify the country’s unwavering commitment to the growth of its fintech infrastructure, and 24 Fintech will be a pivotal platform that will contribute to this economic growth through strategic collaborations and a strong government-backed support system,” commented Annabelle Mander, Senior Vice President, Tahaluf.

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The Huawei Cloud Fintech Day Saudi Arabia 2024 marks a significant milestone in the ongoing collaboration between Huawei Cloud and Saudi’s fintech ecosystem. With strong support from Fintech Saudi, the event underscored the shared commitment to fostering innovation and digital transformation in the country’s fast-growing fintech sector.

As a highlight of the event, Huawei Cloud introduced the Fintech Pioneer Program, offering exclusive discounts to fintech companies in Saudi Arabia. This initiative underscores Huawei Cloud’s commitment to supporting the fintech sector and accelerating digital transformation in the Kingdom.

Nezar Alhaidar, CEO of Fintech Saudi, delivered an insightful opening speech at the event, highlighting the emerging trends in Saudi Arabia’s fintech landscape. Alhaidar emphasized Fintech Saudi’s commitment to empowering fintech companies and fostering growth in the sector. He stated, “The fintech industry in Saudi Arabia is at a pivotal moment, poised for unprecedented growth. Our collaboration with Huawei Cloud demonstrates our commitment to providing fintech companies the necessary tools and infrastructure to thrive in this dynamic ecosystem.”

Alan Qi, President of Huawei Cloud Middle East & Central Asia, reaffirmed Huawei Cloud’s dedication to accelerating intelligence in the fintech industry. Alan remarked, “At Huawei Cloud, we recognize the transformative power of fintech in shaping the future of financial services. Our advanced cloud solutions are designed to empower fintech companies in Saudi Arabia, enabling them to innovate rapidly, scale efficiently, and maintain the highest security and compliance standards.”

Abdulaziz Alotaibi, VP of Cloud Business in Huawei Cloud Saudi Arabia mentioned “With the continuous efforts Fintech Saudi has been doing for the fintech industry, Huawei Cloud has been working on understanding how can we support the industry to elevate their digital transformation and innovation with our quality standards. We are committed to helping fintech enterprises to provide more secure, efficient, and fast financial services through agile innovation, intelligent risk control, and security compliance to provide flexibility, efficiency, and security to the fintech companies.”

Innovative Solutions for Fintech Challenges
The event showcased Huawei Cloud’s comprehensive suite of solutions designed to address the unique challenges faced by fintech companies. Huawei Cloud KooVerse, with its extensive global coverage of 33 regions, 93 availability zones, and over 2800 CDN nodes worldwide, ensures consistent low latency for smoother payment experiences. This robust infrastructure is crucial for fintech companies aiming to provide their customers with seamless, real-time financial services. Huawei Cloud Riyadh Region has 3 availability zones, with ultra-low latency providing optimal experience in Saudi Arabia.

Security compliance remains a top priority in the financial sector, and Huawei Cloud emphasized its commitment to meeting the industry’s stringent requirements. This includes obtaining local security compliance certifications and implementing robust measures to ensure transaction and migration security.

The event also highlighted Huawei Cloud’s cloud-native database, which provides unparalleled performance and elasticity while preventing vendor lock-in and reducing hidden costs. Its cloud-native database solution is a game-changer for fintech companies, offering the flexibility and scalability that fast-growing fintech enterprises need without compromising performance or data integrity.

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Taking place September 3-5 at Riyadh Front Exhibition & Conference Centre, the landmark debut of 24 Fintech aims to solidify Saudi Arabia’s position as a global fintech leader. The event will be hosted by the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), Insurance Authority (IA), and is co-organised by Fintech Saudi and Tahaluf, a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and the Events Investment Fund.

With less than six weeks until the debut event, several high-level speakers are confirmed to discuss trending themes influencing the industry. H.E Mohammed Al Jadaan, Chairman of Financial Sector Development Program (FSDP), has been confirmed as a speaker at 24 Fintech.

Throughout the three-day summit, attendees will hear from high-ranking government officials, including H.E Mohammed ElKuwaiz, Chairman of the Capital Market Authority; H.E Abdulaziz AlBoug, Chairman of the Insurance Authority; H.E Eng. Naij Al-Faisal Al-Tamimi, CEO, Insurance Authority; H.E Yazeed Alnafjan, Deputy Governor of Financial Innovation at the Saudi Central Bank; Yazeed AlDemaigi, Deputy of Strategy, Research & International Affairs, Capital Market Authority; and Nezar AlHaidar,  CEO of Fintech Saudi.

Expected to attract over 26,000 attendees, 300 exhibitors, and 200 investors, 24 Fintech will feature 175 hours of expert-led content, positioning itself as one of the world’s leading fintech conferences. Key topics include Governance, Risk and Policy, Cybersecurity, Global Interoperability, and Innovation in Payments.

24 Fintech will feature four stages hosting an array of keynotes, panel discussions, and industry announcements exploring investment opportunities, startups, technology, and academia.

The Futures Forum Stage will be a hub for academic and interactive discussions on blue-sky thinking, while the Fintech Fusion Stage will converge investment and innovation, providing a platform for founders and investors to share experiences. The 24° Trends Stage will explore the latest trends and technologies reshaping finance.

Elsewhere, Startup Zone is a dynamic space for networking, pitching sessions, competitions, and demo showcases that will run parallel to the Investor Program – a venue for unearthing opportunities and making connections with visionary entrepreneurs.

“Fintech Saudi is thrilled to co-organise 24 Fintech, a pivotal event aimed at cementing Saudi Arabia’s position at the forefront of global financial services discussions. 24 Fintech is an important milestone in advancing the Saudi fintech industry and is consistent with our vision to position the Kingdom as a leading global Fintech hub,” said Nezar Alhaidar, CEO, Fintech Saudi.

A major driving force in Saudi Arabia’s non-oil and digital-first economy, the fintech sector now accounts for nearly 20 per cent of all venture investments into the Kingdom, explained Annabelle Mander, Senior Vice President of Tahaluf.

“This growth is propelled by the country’s youthful, tech-savvy population and a very pro-innovation government. With nearly two-thirds of the population under the age of 30, the Kingdom is an ideal location for a week-long celebration of innovation designed to enhance access to financial services, generate sector-wide investment, and showcase the breakthrough products and services primed to upend the sector in the near future. We are confident this event will spotlight the future of finance and act as an incubator for fintech entrepreneurs to grow and thrive.”

24 Fintech is closely aligned with Saudi Arabia’s Vision 2030 which positions the industry as a crucial element in achieving economic transformation. The exhibition has attracted key finance players who are supporting the Vision goals.

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The collaboration is part of Fintechs Enablement Program (Makken), an initiative by Fintech Saudi and supported by Saudi Central Bank (SAMA) and the Capital Market Authority. It is aimed at helping fintech entrepreneurs and startups go to market faster and more efficiently.

The MoU was signed between Nizar Al-Haider, Director at Fintech Saudi, and Andreas Beck, Vice President and Managing Director of Kyndryl Middle East and Africa.

Under the MoU, Kyndryl aims to support fintech entrepreneurs and startups by providing a secure, fully managed, cloud-based incubation platform so that startups can focus on developing prototypes, use cases, and products and services prior to seeking funding. Throughout the incubation period, Kyndryl will provide technical support and additional resources to help transform ideas into viable, real-world technological innovations.

Additionally, Fintech Saudi and Kyndryl will co-host hands-on seminars, events, and workshops aimed at nurturing knowledge sharing, networking opportunities, and the promotion of modernization within the FinTech community.

“We are proud to be chosen as an enablement partner for Saudi Arabia’s fintech entrepreneurs and startups and have the opportunity to contribute to the growth of the financial services sector in Saudi Arabia,” said Andreas Beck, Vice President and Managing Director, Kyndryl Middle East and Africa. “Through the collaborative efforts of both organizations leveraging their strengths and resources, we are well-positioned to facilitate the development of innovative value propositions across the financial services value chain, addressing customer needs.”

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Under the patronage of his excellency the Governor of Digital Government Authority, Eng. Ahmed bin Mohammed Alsuwaiyan, cybersecurity company sirar by stc signed an agreement with Fintech Saudi, in the presence of the Undersecretary of the Ministry of Communications and Information Technology for the Technology sector Ibrahim Al-Nasser; the Deputy Governor of the Communications and Information Technology Commission for the Information and Emerging Technologies’ sector Raed Al-Fayez; Deputy Governor For Development and Technology at Saudi Central Bank, Ziad Al-Yousef; and the Deputy Strategy & International Affairs at Capital Market Authority, Yazeed AlDemaigi.

The agreement solidifies the integration between the Digital Government Authority and the Saudi Central Bank, to support SMEs, fintech companies and entrepreneurs to boost innovation and diversity of products and services through digital platforms, and increase the contribution of the digital government services to the national economy. Under the agreement, sirar by stc will offer a digital signature service package discounted by 60% that will benefit SMEs, fintech companies and entrepreneurs.

This step comes in line with the efforts deployed by the Authority and all stakeholders and aims to improve the regulatory environment for digital services, facilitate business, and strengthen strategic partnerships between government agencies and the private sector, in order to develop the digital ecosystem. The Deputy Governor for Regulation and Digital Trust in the Digital Government Authority, Eng. Faris AlRabadi explained that this agreement aims to promote digital trust services, which contributes to improving the user’s experience, ensure that electronic transactions are conducted with high reliability and promote digital transformation in the Kingdom.

Ziad Al-Yousef, stated that this agreement will contribute to the development of the fintech sector in the Kingdom, facilitate business in the financial sectors, enhance cooperation and coordination, and keep pace with global developments to achieve the aspirations of Saudi Vision 2030.

Nezar Al-Haidar expressed his happiness towards signing this agreement noting that it will support the empowerment of fintech companies by reducing their operating costs.

The CEO of sirar by stc confirmed that this agreement comes within the framework of the company’s efforts to support and enable the fintech sector in the KSA, which serves the purpose and plans of digital transformation in the Kingdom. It is noteworthy that the digital signature service allows users to digitally sign documents from anywhere at any time, while ensuring reliability, authentication and security.

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Each submission will undergo a vigorous assessment before being selected to proceed in the accelerator which will see Wa’ed select three startups to onboard into its incubation program, each receiving a SAR 50,000 grant.

As Fintech Accelerator’s incubation and strategic partner, Wa’ed will deliver startup workshops, including pitching and growth hacking, best practices, as well as coaching and mentorship sessions. The program will culminate with a demo day in which the fintech startups will pitch to potential investors.

All qualified startups will be subject to a background check and are required to have a minimum viable product, a tech-experienced founder, and at least one dedicated full time team member.

Following completion of the Fintech Accelerator, the participating startups can continue to avail support services through regulator meetings with the accelerator team. The program will include engagement with the Saudi Central Bank and the Capital Market Authority.

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The Fintech Accelerator Demo Day was held via lifestream. Throughout the program, the ten companies (Wethaq, Faloos, Buthoor, Rasmal, Tammwel, UPayments, Crayon Data, Sahala, Themar, Mal’aa Finance), displayed resilience, vision, and unlimited potential, and their pitches on Wednesday showcased their impressive outcomes.

Ziad Al Yousef, Deputy Governor For Development and Technology, opened the Demo Day. “We will continue to support young entrepreneurs to achieve their full potential by continuing to provide them with opportunities to grow. This will help us to transform the Kingdom into an innovative fintech hub that contributes to the goals of Vision 2030 and supports the Kingdom to remain as a leading hub in the financial services sector,” said Al Yousef.

“In line with the objectives of Financial Sector Development Program and Vision 2030, Fintech Saudi launched Fintech Accelerator which aims to support innovative solutions in financial services. We are pleased to have completed the first cohort of the Fintech Accelerator which includes 10 exciting fintech companies who are driving financial inclusion and using data, innovative technology and disruptive business models to provide individuals and companies with a better experience,” said Nejoud Almulaik, Director of Fintech Saudi.

“As the Fintech Accelerator comes to fruition, we are pleased to have worked alongside Fintech Saudi to create a truly bespoke and impactful accelerator program,” said Ramez El-Serafy, CEO at Flat6Labs. “The program was successful in empowering, supporting and enabling innovative entrepreneurs to take bigger strides in the development of their Fintech startups in a very short period of time.”

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