T Tamawal at the second Fintech Saudi Annual Report providing an overview of the progress of the fintech industry in Saudi Arabiaa
Financial Technologies or "FinTech" is a new financial industry that applies technology to improve financial activities. It includes a variety of innovative business models and emerging technologies that have the potential to transform the financial services industry.
RIYADH: Saudi Arabia has 30 fintech companies today under Saudi Central Bank supervision, ten times more than the original target of three, director general of the Financial Sector Development Program, Faisal Al-Sharif, told CNBC Arabia on Sunday.
San Francisco-based 500 Startups, the most active global early-stage venture capital firm, and Misk Innovation recently hosted their first-ever Digital Demo Day to mark the conclusion of the third cohort of the Misk500 Accelerator Program for 16 high-caliber startups. Following the government lockdown regulations, the in-person event transitioned to a digital format for the health and safety of the founders and the wider entrepreneurial community.