Money20/20 Middle East conference highlights fintech growth in Riyadh

The Money20/20 Middle East conference concluded in Riyadh, highlighting significant advancements in Saudi Arabia’s fintech and digital banking sectors. STC Bank, a founding partner, signed six bilateral agreements with companies including Hala, Moyasar, Huawei, Surpay, Almatar, and Paylink to expand its digital service integration and support small and medium-sized enterprises.

During the event, the Saudi Central Bank (SAMA) emphasized its commitment to balancing monetary stability with responsible innovation in line with Saudi Vision 2030. Noura Al-Bakr, Deputy Governor for Financial Innovation, noted that the central bank utilizes regulatory sandboxes to test emerging technologies. She highlighted that supply chain finance activities within these testing environments have already exceeded 1.4 billion SAR.

The conference also featured new investment announcements and strategic partnerships, such as a collaboration between the Sharia-compliant debt crowdfunding platform Lendo and Quantic Fi, reflecting growing international interest in the Kingdom’s financial technology market.