The number of Fintech is continuously growing and becoming the latest talk of the town.
Fintech speakers Shafique Ibrahim of Walvat, Ihsan Al Hayek of DAPI, Danny Abla of Bankiom & Narendra Nandal of Nym Card spill all the details about the growth of the fintech in a fragmented market, the role regulations play in the Fintech space and the effective strategies recommended for fintech to get into the MENA region.
_____________________
QUOTES
''With open banking now coming full force in the region, we do have an excellent chance of stitching together at least commercially, these markets and these jurisdictions''
''If you have to address a fragmented market, which, where the scale can only come, when all these different fragments come together, you need a common platform''
''We need the regulator to escort us into getting much, much, much better services into our banking and our finances.''
''I think the driver that will push them to become more and more and more responsive and agile is the process of putting the regulation and we need to not over-regulate because this will kill all the risky and ambitious new use cases. So when you it's always a balance between the two''
''So definitely the global trend is for technology companies to start offering financial services.''
''I think the future of banks, they will initially work hand in hand.''
''Fintech is to the digital economy''
_____________________
HIGHLIGHTS
3:04- The Fintech ecosystem in the fragmented region today
6:38- Emerging of the Fintechs and the reasons behind their ability to initiate solutions
11:43- The role of regulations in the MENA region
20:57- Fintech being an alternate to the banking industry or more of a collaborative with a bank
26:51- Higher funding on the Fintechs
31:40- The strategies for Fintechs to get into the MENA region