RIYADH — The first edition of the FinTech 24 conference concluded on Wednesday in Riyadh, attracting more than 37,000 visitors. The event was hosted by the Financial Sector Development Program, Saudi Central Bank (SAMA), Capital Market Authority, and Insurance Authority, and jointly organized by Fintech Saudi and Alliance, a venture between the Federation for Cybersecurity, Programming and Drones, Informa Global, and the Investment Events Fund. Dr. Khalid Al-Dhaher, Deputy Governor of SAMA for Supervision and Technology, highlighted the conference's role as a critical platform for policy makers, industry leaders, international experts, and regulators to advance the financial technology ecosystem, reaffirming Saudi Arabia's position as a regional leader in fintech. Annabelle Mander, Senior Vice President of Alliance, noted that more than 10,000 registrants were from outside Saudi Arabia, and the event featured 350 speakers, including 252 international speakers. She described FinTech 24 as one of the world's largest financial technology conferences, hosting 500 investors in the Venturescape initiative aimed at empowering local startups. Several key agreements were signed, including a cooperation between Fintech Saudi and SIMAH Credit Rating Agency to provide discounted services to financial companies, a partnership with King Fahd University of Petroleum and Minerals to establish a fintech support center, and a collaboration with the Singapore Fintech Association to boost financial technology systems in both nations. The conference sessions addressed crucial topics such as building trust in digital identity, enhancing financial stability through technology, evolving fintech across sectors, reforming insurance technology policies, and developing financial markets and wealth tech. Key announcements included the launch of a new SR800 million investment fund by 1957 Ventures, an agreement between SAMA and Samsung to introduce Samsung Pay in Saudi Arabia by Q4 2024, and Tabby's acquisition of Tuwaiq to expand its financial services offerings.
