Money20/20 Tahaluf

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4 months ago

Money20/20 Tahaluf

Transcript

00:00My name is Annabel Mander. I'm the Executive Vice President at Tahalif and I primarily look

00:12after our tech products including Money 2020 Middle East. We launched 24 FinTech last year

00:16and we were lucky enough to be able to engage the entire ecosystem. So working very closely

00:22with FSDP, the Central Bank of Saudi Arabia, the Capital Markets Authority, Insurance Authority

00:27and FinTech Authority. And what's really special about that is that we've been able to bring

00:32together the entire ecosystem. So everything from the banks, to the regulators, to the startups,

00:37to the investors. So we launched this platform and it was incredible in terms of the response

00:43from the market. So it really highlighted that there was an incredible opportunity to turn this

00:48into something even bigger and even more impactful. So we've been running Money 2020 around the world

00:54since 2011. But given the economy in Saudi Arabia, the growth and the scale of the FinTech industry,

01:02we knew that it would be the right opportunity to bring Money 2020 Middle East to Riyadh in Saudi

01:07Arabia. So what we've actually seen at this event is significant growth from what we achieved last year.

01:13So we've had double digit growth in our exhibitors and over 50% of them have flown internationally.

01:20So what we're really seeing is a huge increase in appetite for international companies to set up

01:25and do business in Saudi Arabia. And this is a trend across all of the event actually. Our investor

01:31program has grown by 300% and it's a very similar split. 50% of those investors are coming in

01:37internationally, which is again showing the appetite to engage with the local market and potentially invest

01:43in FinTech based here in Saudi Arabia. Similar for a speaker faculty, 65% are flying in from all around

01:50the world. So we're bringing together all of the right individuals. We've got the FinTech experts,

01:55the policy makers, the government, the regulators. So it really enables a platform for facilitation of

02:01change, innovation, and it's also the place where actual business gets done.

02:05There isn't a platform that exists where you bring together the entire ecosystem. Even in other events

02:17around the world, you don't really see regulators, banks, government, FinTechs, big tech companies all in one place.

02:26And even with initiatives that we're running like The Runway, The Runway is a one-stop shop to set up business in Saudi Arabia.

02:33So whether you're a FinTech internationally looking to come into Saudi Arabia and you need help with your

02:39licensing or your regulation or your access to market, The Runway offers a platform that nobody else is

02:45able to run in the world to allow that access and to allow people to actually penetrate the market here

02:51in Saudi Arabia. So that's a really special USP for us. And given the growth of the economy and also just

02:59given the population being so digitally savvy, it really is the right place to have this platform.

03:05So it's been a great success and the growth has been phenomenal.

03:12The growth year on year to money 2020 for this edition has been incredible.

03:17We're expecting more growth, more impact, but most importantly, more business and deals to get done.

03:23That is a priority for us. For next year, we're looking into growing the event further.

03:28We really want to ensure that it's a full Saudi FinTech week. So we're going to ensure that the

03:33entire city of Riyadh is activated across the seven day period. So more content,

03:38more stakeholders involved, more internationals coming in.

03:42If you want to win Saudi Arabia, you need to be active in Saudi Arabia. You need to be looking at

03:54setting up an office here, potentially having your head office here for the Middle East,

03:58and you need to be engaging with the community and the right ecosystem,

04:02which is why money 2020 Middle East is perfect because the ecosystem is here. You need to engage

04:07with the regulators. You need to understand the government here and you need to be constantly

04:12looking to ensure that you're stepping forward in the right way. The opportunity is massive,

04:17but you have to be in it to win it. So you need to be here in Saudi.

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