The inaugural Money20/20 Middle East event in Riyadh brought together leading figures from the fintech and financial services sectors, offering a platform for insightful discussions on the region’s evolving financial landscape. We, conducted a series of interviews with industry leaders, each shedding light on different facets of fintech innovation and economic transformation in the Middle East.
Lu Zhou: Diversifying Wealth Management
Lu Zhou, CEO of Vanquour Wealth Management, highlighted the importance of diversification in wealth management, particularly for family offices and high-net-worth individuals. Zhou emphasized the potential for robust economic growth in the Middle East, drawing parallels with China’s past economic expansion. The conversation underscored the strategic interest in supporting family offices in the region, aligning with the broader theme of economic diversification.
Mastercard’s Vision 2030 Alignment
Muhammad Nana, SVP of Digital Partnership at Mastercard, and Rinat Ablet, CRO of Tiqmo, discussed Mastercard’s alignment with Saudi Arabia’s Vision 2030. Nana elaborated on Mastercard’s mission to empower economies through digital transformation, highlighting initiatives to bring unbanked consumers into the financial ecosystem. The conversation also touched on Mastercard’s strategic investments in Saudi Arabia, including the establishment of a local gateway to support regulatory compliance and digital payments.
Bupa Arabia’s Digital Healthcare Innovation
Ali Sheneamer, Chief Business Development Officer at Bupa Arabia, introduced the Bupa Care Connect product, a digital-first healthcare solution aimed at improving patient care through connected services. Sheneamer discussed the integration of digital payment techniques and the focus on chronic conditions, reflecting the broader trend of digital transformation in healthcare. The interview highlighted Bupa Arabia’s commitment to enhancing healthcare outcomes and aligning with Saudi Vision 2030.
Vennre’s Wealth Creation for High Earners
Ziad Mabsout, CEO of Vennre, shared insights on the company’s wealth creation platform designed for high earners, known as “Henry’s” (High Earners, Not Rich Yet). Mabsout emphasized the importance of providing access to Sharia-compliant investment opportunities and the role of technology in personalizing wealth journeys. The discussion highlighted the growing demographic of high earners in Saudi Arabia and the need for tailored financial solutions.
Mastercard’s Support for SMEs
Onur Kursun, EVP of Commercial and New Payment Flows at Mastercard, explored the evolving needs of SMEs in the region and Mastercard’s efforts to provide tailored solutions. Kursun emphasized the importance of collaboration between fintechs and banks, leveraging Mastercard’s global expertise to support SMEs’ digital transformation. The interview highlighted Mastercard’s commitment to financial inclusion and the development of innovative solutions for SMEs.
The Money20/20 Middle East event served as a testament to the region’s dynamic fintech landscape, showcasing the collaborative efforts of industry leaders to drive economic growth and digital innovation. Each interview provided valuable insights into the strategies and initiatives shaping the future of finance in the Middle East, reflecting a shared vision of progress and transformation.
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