Search SaudiArabiaPR.com

Home >> Others

Vice Governor Of Saudi Arabian Monetary Authority Opens The 14th MEFTCH Payments To Drive Future Of Digital Payment And Fintech In The Kingdom

Wednesday, May 9, 2018/ Editor -  

Share

Home >> Others

9th May 2018, Riyadh, Saudi Arabia - The 14th Middle East Financial Technology Exhibition and Conference (MEFTEC Payments), hosted by Saudi Arabia for the first time, has been officially opened by by H.E. Mr. Abdulaziz Saleh AL-Furaih, Vice Governor of the Saudi Arabian Monetary Authority (SAMA) at the Intercontinental Hotel, Riyadh to discuss the future of the digital payment sector in the Kingdom.

The two-day conference and exhibition initiated by mada the national payment network and SADAD the national payments system, under the direction of SAMA, is the first dedicated event for Fintech companies and banks to address industry-changing technological innovations, global Fintech advancements and consumer requirements to transform the digital payment landscape in line with the Kingdom’s vision 2030 to support entrepreneurship and enhancing the financial services technology. 

H.E. Mr. Abdulaziz Saleh AL-Furaih, Vice Governor of SAMA in his opening speech said: “Today, MEFTECH Payments brings together Government Departments, Banks, Financial Institutions, Fintech companies, Entrepreneurs, and large and small business for the first time in Saudi Arabia at a crucial time where we are witnessing exponential growth in digital payment and Fintech Industry. The next two-days will drive discussions on the future of digital payments, to inspire new ideas, collaborate on industry-changing technological innovations that will transform the digital payment landscape here in Saudi Arabia.” 

“We are currently witnessing a revolution in the payments industry here in Saudi Arabia, technology is evolving, consumers’ expectations are increasing, merchants’ requirements are getting more and more comprehensive and the new millennial generation is driving the digital transformation initiative along with banks towards having a seamless experience while translating at every touch post of the payment channels. The need for continuous development of banking and financial services to keep pace with this growth of development cannot be under estimated. The importance of collaboration at MEFTECH Payments will support shaping our future, contribute to ‘FintechSaudi’ aim to transform the Kingdom into an innovation hub launched early this month, and will support the economic and financial objective of our nation’s vision.”

Ziad Al-Yousef, Director General of Payment Systems, SAMA in his opening keynote address on Fintech Saudi transforming the financial sector said: “The growth of the global Fintech industry is exponential and we are seeing significant progress in the field of Fintech based on the growth in the use of big data, consumer demand for inclusive and consumable financial services, in addition to the emergence of new technical trends such as: artificial intelligence and blockchain, which will lead to an important shift in the provision of financial services here.”

MEFTECH Director, Oliver Bickell added: “MEFTECH is the longest running Banking & Financial Technology event in the MENA Region and we thank mada and SADAD for initiating the first Saudi Arabia edition. Following significant interest both regionally and globally for this event we are pleased to announce that MEFTECH Payments will return next year being held at Riyadh International Convention & Exhibition Centre and will showcase over 120 local, regional and international exhibitors alongside an expanded conference programme and dedicated Fintech Pavillion showcasing start-up innovations and market disrupters from across the world.”


Previous in Others

Next in Others


Home >> Others Section

Latest Press Release

Cerruti 1881 Infinite Love

Express Your Signature Style

Al Basel Group's new jewelry business in KSA to boost localization efforts

The Memovox Adventure

‘Elaf Grand Al Majeedi' the newest addition to luxury hotels in Al Madina

Makkah poised to welcome investment opportunities to boost economic growth

Airbus unveils winners of its ‘Entaliq in KSA' initiative

Sacoor Brothers launches FIRST ever Fragrance “GENTLEMAN”

Entertainment sector continues to remain popular in Jeddah in Q2, says JLL

Saudi Arabia Ranks as Top Digital Banking Market in Middle East and North Africa

Tory Burch Opens Two New Stores in Riyadh

LG launches new AI-powered premium LG G7 ThinQ+ flagship for GCC consumers

Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh

ESET named a Leader in Endpoint Security Suites 2018 Report by Independent Resea ...

Airbus to reveal winners of the second edition of ‘Entaliq in KSA'

Rasasi Introduces Exquisite Musk Collection

Homoola Launches Road Freight Load-Matching in Saudi Arabia

TAG Heuer Expands Network of Boutique Stores in the KSA

The Annual Skyline Iftar at Skyline University College

The #1 trick to capturing the best photo at night? The trick is the AI camera in ...