As a new era of fintech advancement and adoption unfolds across Saudi Arabia, the inaugural edition of 24 Fintech - the country's new financial services-focused summit and exhibition - will offer a stage for senior government officials and global leaders in the finance sector to address critical topics impacting the transformation of the Kingdom's finance industry. Taking place from Sept. 3-5 at Riyadh Front Exhibition & Conference Center, the landmark debut of 24 Fintech aims to solidify Saudi Arabia's position as a global fintech leader.

The event will be hosted by the Financial Sector Development Program, Saudi Central Bank, Capital Market Authority, Insurance Authority, and is co-organized by Fintech Saudi and Tahaluf, a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones, and the Events Investment Fund. With less than six weeks until the debut event, several high-level speakers are confirmed to discuss trending themes influencing the industry.

Mohammed Al-Jadaan, chairman of FSDP, has been confirmed as a speaker at 24 Fintech. Throughout the three-day summit, attendees will hear from high-ranking government officials including Mohammed ElKuwaiz, chairman of the Capital Market Authority; Abdulaziz AlBoug, chairman of the Insurance Authority; Eng. Naij Al-Faisal Al-Tamimi, CEO, Insurance Authority; Yazeed Alnafjan, deputy governor of financial innovation at the Saudi Central Bank; Yazeed AlDemaigi, deputy of strategy, research & international affairs, Capital Market Authority; and Nezar AlHaidar, CEO of Fintech Saudi.

Expected to attract over 26,000 attendees, 300 exhibitors, and 200 investors, 24 Fintech will feature 175 hours of expert-led content, positioning itself as one of the world's leading fintech conferences. Key topics include governance, risk and policy, cybersecurity, global interoperability, and innovation in payments. The event will feature four stages hosting an array of keynotes, panel discussions, and industry announcements exploring investment opportunities, startups, technology, and academia.

The Futures Forum Stage will be a hub for academic and interactive discussions, while the Fintech Fusion Stage will converge investment and innovation, providing a platform for founders and investors to share experiences. The 24° Trends Stage will explore the latest trends and technologies reshaping finance. Elsewhere, Startup Zone is a dynamic space for networking, pitching sessions, competitions, and demo showcases that will run parallel to the Investor Program - a venue for unearthing opportunities and making connections with visionary entrepreneurs.

Saudi Arabia's fintech sector, now accounting for nearly 20 percent of all venture investments into the Kingdom, is a major driving force in the country's non-oil and digital-first economy. In a similar vein, India's fintech sector is poised for transformative growth, as emphasized by Chief Economic Advisor V Anantha Nageswaran during the Global Economic Summit in Mumbai. He highlighted the potential of fintech to drive income, savings, and wealth creation, thereby fostering social stability in India.

Nageswaran pointed out the vast growth potential for the fintech sector in a country as large as India. He highlighted several key fintech advancements that have set India apart as a model for leveraging technology to promote financial inclusion, streamline government services, and drive innovation within the financial sector. The rapid development of fintech solutions could significantly alter income, savings, and wealth creation patterns, with far-reaching impact on economic development and the global fintech landscape.

According to impressive statistics, India's digital lending market was valued at USD 270 billion in 2022, with projections that the Wealth-Tech market would reach USD 237 billion by 2030. India is home to over 10,000 fintech companies operating across various sectors, making it the third-largest fintech ecosystem globally, growing at a CAGR of 14 percent. To boost the ecosystem further, the Reserve Bank of India has proposed a draft framework for recognizing Self-Regulatory Organizations (SROs) in the fintech sector for stakeholder consultation.

The government has also signed a USD 23 million loan agreement to improve access to quality fintech education, research, and innovation at Gujarat International Finance Tec-City (GIFT-City). The ongoing expansion and evolution of India's fintech ecosystem will likely drive significant economic development and shape the global fintech landscape. Both Saudi Arabia and India are leveraging their unique strengths to position themselves as leaders in the fintech industry, underscoring the global importance of financial technology in shaping the future of economies worldwide.