The Kingdom of Saudi Arabia is looking to launch the Middle East region’s largest cluster of fintech events. Due to COVID-19 the event, Fintech Tour 20, will be virtual.

Fintech Saudi, an initiative launched by the Saudi Arabian Monetary Authority (SAMA) and the Capital Markets Authority (CMA) to support the growth of the fintech industry in Saudi Arabia, part of the wider economic development transformation known as Saudi Vision 2030, will launch the third annual Fintech Tour to be held from 29 November – 10 December 2020.

Fintech Tour is the region’s largest cluster of fintech events. The Tour consists of free lectures, panel discussions and workshops in Arabic and English on fintech related topics that are led by local and international experts and open to everyone to attend.

Riyadh (pictured) is the capital and largest city of Saudi Arabia IMAGE SOURCE GETTY
Riyadh (pictured) is the capital and largest city of Saudi Arabia IMAGE SOURCE GETTY

Fintech Tour 20 will build on the success of Fintech Tour 19, which consisted of events across the GCC and attracted over 3,000 participants. This year, Fintech Tour 20, which will be held virtually, will have 24 events with over 50 local and international expert speakers focused on the themes of Fintech Trends, Saudi Deep Dives, and Entrepreneurship Skills.

Highlights include guest lectures from internationally renowned fintech and entrepreneurship experts, panel discussions with high profile fintech founders, investors and influencers, a public presentation of Project Aber, an overview in fintech regulations from SAMA and CMA, a case study on Greensill, the first fintech unicorn to begin operations in Saudi Arabia and a workshop with four of the leading fintech hubs in the Middle East.

“Fintech Tour 20 will bring together experts to spread awareness about important fintech trends, support entrepreneurs with workshops on core skills and provide a better understanding about the fintech developments occurring in Saudi Arabia. Aligned to the interests of the G20 countries to support the development of the fintech industry, we need to inspire more people to learn about fintech. The Tour is a great opportunity for anyone that wants to be part of this fast paced and exciting industry and we invite everyone to join in the experience,” said Nejoud Almulaik, Director of Fintech Saudi.

In addition to SAMA and CMA, Fintech Tour 20’s partners include Saudi Payments, Ministry of Communication and Information TechnologyFinancial AcademyCentral Bank of Egypt / Fintech EgyptAbu Dhabi Global MarketArab National BankBIACBanque Saudi FransiCandere’jamiaElmangos Ventures, FinMiraiFintech GalaxyFlat6LabsForusGlobal VenturesGreensillImpact 46Islamic Development BankJust InnovateKing Fahd University of Petroleum and MineralsMy CourierOraclePwCQoyodRaed VenturesRiyadh Angel InvestorsRaqamyah, SarwaSingapore Management UniversitySTC PayTaibah ValleyTamweelThe Fintech Times, and Wethaq. More information about the event can be viewed on their website.

Other announcements that have happened in Saudi Arabia have included the launch of Fintech Accelerator, an  innovative and entrepreneurship programme powered by Flat6Labs, a Middle East regional startup programme and seed investment management company that fosters and invests in bright and passionate entrepreneurs with innovative and high-growth potential startups. The intensive 3-month programme brings together Fintech Saudi’s market reach and Flat6Labs’ resources to provide up to ten fintechs with the best practices, resources, and tools they need to develop and scale their solution-driven businesses.

In addition, the country’s aspirations to be a leader in aritificial intelligence, where they expect AI to contributie $135 billion to the economy, also hosted an AI summit. Under the patronage of His Royal Highness the Crown Prince, Deputy Prime Minister, and Minister of Defense, Prince Mohammed bin Salman, the Saudi Data & AI Authority (SDAIA) hosted the Global AI Summit virtually on October 21-22, 2020.



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