'24 Fintech' To Transform Riyadh Into A Global Financial Technology Hub This September

A major fintech event, "24 Fintech," is set to take place in Riyadh. Organised by the Financial Sector Development Programme (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), and Insurance Authority (IA), it aims to elevate Riyadh's global financial technology ambitions. Co-organised by Fintech Saudi and Tahaluf, the event will showcase the Kingdom's commitment to shaping the future of finance.

Scheduled from September 3-5, 2024, at Riyadh Front Exhibition & Conference Centre, 24 Fintech will feature an exhibition and summit with 175 hours of expert-led content. The event will also include industry gatherings and brand activations throughout the week, from September 1-6. This three-day event aims to unlock business opportunities, embrace change, and lead innovation.

Global Financial Technology Ambitions

Tahaluf, a strategic venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and the Events Investment Fund (EIF), has ambitious plans for this new fintech event. They aim for it to rival some of the world's best financial technology conferences. The goal is to establish Riyadh as an international fintech hub and position the Kingdom as a tech-driven global financial powerhouse.

The inaugural edition of 24 Fintech will feature four stages hosting three days of programming including keynotes, panel discussions, and industry announcements. There will be dedicated areas for investment and startups, technology, and academia. Experts will discuss themes such as governance, regulations, interoperability, investment, and reimagining the financial services landscape.

Key Stakeholders and Participants

The event is expected to attract over 25,000 attendees, including central bank governors, regulators, policy makers, financial institutions, big tech providers, investors, academics, researchers, and professional associations. Initial estimates project participation from 300 exhibitors, 200 investors, 80 fintech startups, and more than 200 expert speakers addressing pressing finance industry issues.

"Our vision is to drive forward finance by bringing together essential stakeholders and propelling practical worldwide transformation in alignment with the economic development agenda laid out in Saudi Arabia's Vision 2030," said Annabelle Mander, Senior Vice President of Tahaluf.

Special Initiatives

In addition to the main stages, special initiatives like the Regulators' Village will connect regulators with fintechs aspiring to set up in the Kingdom. A dedicated investor programme will feature an exclusive stage and lounge. Venturescape will bring together over 200 global investors and more than 100 fintechs for workshops, mentorship sessions, and pitch practice.

A specific startup zone will spotlight 80 top global fintech companies across various verticals such as payments, lending, insurtech, regtech, capital markets compliance and open banking. Aspiring startups can benefit from tailored mentorship sessions and matchmaking opportunities. The event will also host a pitch competition where top startups compete for equity-free awards exceeding SAR 900,000 (US$250,000).

The international summit aims to unite regulators with financial services professionals while providing a platform for policy makers and technologists to collaborate on fintech transformation. This initiative seeks to foster innovation within the global finance sector by encouraging collaboration among diverse stakeholders.

The comprehensive programme includes satellite events running throughout the week alongside the main exhibition. These events are designed to enhance networking opportunities while promoting business growth within the fintech sector.

This ambitious project reflects Saudi Arabia's dedication to becoming a leader in financial technology innovation on a global scale. By hosting such a significant event annually in Riyadh starting next year in September 2024 they hope not only elevate their own status but also contribute meaningfully towards advancing worldwide financial technologies through collaboration knowledge sharing among experts across different fields related directly or indirectly involved within this dynamic industry sector today globally speaking overall too!