The Financial Market Innovation Hackathon concluded in Riyadh on 16 September 2026 at Money20/20 Middle East, bringing together emerging talent, technology and financial expertise to explore new solutions for Saudi Arabia’s rapidly evolving capital markets.
The hackathon was organised by the Financial Academy in collaboration with the Capital Market Authority (CMA), with Sahm Capital as strategic partner. The initiative focused on turning ideas into practical solutions capable of addressing real challenges facing the Saudi financial market. It was an AI-Powered inaugural innovation hackathon.
Interest in the programme was strong, with more than 500 people applying to participate. From this initial pool, over 60 candidates were selected to join the hackathon and were organised into multidisciplinary teams across six tracks: regtech & compliance automation, financial inclusion and access, wealth management advisory, sustainable & ESG finance, private equity & venture capital, and corporate financing.
Participants represented a mixture of backgrounds, including software development, data science, design and financial services, creating an environment where technical capabilities could be combined with industry knowledge.
Over the course of the main programme, which was held from 6th September-10th September, participants developed and refined their concepts before presenting them for assessment. Amongst the twelve ideas developed, ultimately the top six, which presented their solutions on the 10th September to a round one with judges, progressed to the final stage at Money20/20 Middle East on the 16th September.
The top six that were chosen to the final stage competed at Money20/20, where they were evaluated by a panel of industry experts and specialists. Following the judging process, Idraj secured first place, with Hawkamtek taking second place and Floc finishing third. The other three participants that missed the top three in no particular order were Baserah, Taameem, and Rushd.
The hackathon was designed to go beyond simply generating new ideas. Participants were encouraged to consider how emerging technologies could be applied to genuine financial market challenges and translated into solutions with practical potential. In doing so, the programme provided a platform for young talent to gain experience in areas where finance, technology and innovation increasingly intersect.
The event formed part of the Financial Academy’s broader presence at Money20/20 Middle East. During the conference, the Academy showcased its professional development programmes and initiatives focused on strengthening human capital across Saudi Arabia’s financial services sector. Its activities also included a series of awareness sessions delivered in collaboration with STC Bank, covering subjects ranging from the future skills required by the financial industry to professional qualifications, financial innovation, cybersecurity and fraud prevention.
These activities reflect a wider emphasis on ensuring that the development of Saudi Arabia’s financial sector is accompanied by investment in skills and professional capabilities. As technology continues to reshape financial services and capital markets, developing talent capable of working across both finance and technology is becoming increasingly important.
The initiative also aligns with the wider ambitions of Saudi Vision 2030, particularly efforts to develop the Kingdom’s financial sector, strengthen local capabilities and encourage innovation as Saudi Arabia continues its broader economic transformation.
The post Financial Market Innovation Hackathon 2026 by Financial Academy appeared first on The Fintech Times.
