The Middle East’s fintech sector is rapidly emerging as one of the region’s strongest growth stories. The number of firms has already surpassed 1,000, with four unicorns in play and more on the horizon. Investment momentum remains strong, with $1.9 billion deployed across 237 deals in 2023 and 2024. The MENA region is projected to be the fastest-growing fintech market worldwide, expanding at a rate of 35% annually through 2028, more than double the global average of 15%.

Saudi Arabia is central to this growth, with Vision 2030 positioning fintech as a key pillar of economic diversification. The kingdom’s market is forecast to grow from $63.9 billion in 2024 to $87.1 billion by 2029, at a compound annual growth rate exceeding 6%.

One of its recent milestones is hosting Money20/20, the world’s largest fintech event, which has previously taken place in Europe, the US, and Asia and is now arriving in the Middle East for the first time.

A VISION EXECUTED

The event is organized by Tahaluf, a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming, and Digital Economy (SAFCSP), and the Events Investment Fund (EIF). It reflects the kingdom’s emergence as a fintech hub, supported by regulatory frameworks from SAMA and the CMA, rising venture capital inflows, and a growing startup ecosystem.

Saudi Arabia aims to grow the sector to 525 companies by the end of the decade. Its strategy focuses on three priorities: reducing dependence on oil by modernizing financial services, accelerating digital adoption through e-payments and infrastructure, and widening financial inclusion for individuals and businesses. The event is also intended to connect local fintech firms with international players, illustrating the region’s growing role in financial innovation, emerging technologies, and cross-border collaboration.

BRIDGING CONVERSATIONS AND COLLABORATIONS

The conference has attracted major participants, including Al Rajhi Bank, Riyad Bank, STC Bank, Saudi National Bank, Tamara, Visa, and Vision Bank as founding partners. They are joined by a wider roster of sponsors such as Visa, JP Morgan, Mastercard, Bupa, Ant International, Mambu, Tabby, Tap Payments, Tiqmo, Banque Saudi Fransi, and SME Bank, reflecting both the event’s scale and international reach.

This year’s edition emphasizes collaboration among regulators, banks, big tech companies, and fintech startups, addressing areas such as digital payments, open banking, AI in finance, and cybersecurity. Discussions aim to drive innovation while establishing the Middle East as a hub for stakeholders shaping the future of finance.

The agenda features global companies, including Google, Tencent, Visa, 500 Global, J.P. Morgan, and Aramco, alongside government officials and ministers. It explores themes such as public–private partnerships, energy, and the role of government. Sessions on digital wallets, instant payments, and open banking examine how these technologies are influencing customer expectations, security frameworks, and cross-border commerce.

Developed with input from Saudi regulators, financial institutions and technology leaders, the program aligns with the region’s key priorities. It addresses fintech regulation, capital markets, financial inclusion, and the rapid adoption of digital wallets and instant payments, balancing international perspectives with regional insights to offer a broad understanding and actionable strategies.

A POSITIVE OUTLOOK

This edition of Money20/20 Middle East provides a platform for growth across the financial ecosystem. Startups and scale-ups gain visibility, direct access to investors, and opportunities to present solutions to policymakers and decision-makers shaping the region’s financial future.

Engagement with regulators and potential partners enables emerging firms to accelerate their expansion and secure support for scaling, while established banks and global tech companies can explore collaboration, gain regional insights, and contribute to policy discussions.

The program is structured to go beyond inspiration, helping delegates leave with clear next steps, whether in the form of potential deals, strategic alliances, or new ideas to advance growth.