Insights and innovation: Moore Kingston Smith attends key fintech events

30 May 2024 / Insight posted in Article

As 2024 arrived, the global fintech industry faced a challenging economic landscape, marked by inflation concerns, geopolitical tensions, supply chain disruptions and the looming threat of a recession. These factors influenced spending, funding and deal-making activities across the sector.

Despite these challenges, the fintech sector in the Middle East, particularly in the UAE, has shown remarkable resilience and growth. The UAE’s total investment in fintechs has surged by 92 per cent since 2022, with investments expected to grow at a compound annual growth rate (CAGR) of 17.2 per cent, reaching $949billion by 2030.

The region is becoming increasingly appealing for companies in the financial sector, with cryptocurrency exchanges and FX/CFD brokers, artificial intelligence and automation specialists, proptech firms and climate-focused startups all attracted by its fintech-friendly regulations, substantial investments in digital infrastructure and strategic initiatives aimed at fostering innovation.

This optimism was palpable during our recent visit to the region for the Dubai FinTech Summit (DFS), where the atmosphere was decidedly upbeat and forward-looking.

Insights from DFS

The second edition of the Summit, organised by the Dubai International Financial Centre (DIFC), attracted over 8,000 visitors from 118 countries, bringing together a global community of fintech innovators and thought leaders, including a team from Moore Kingston Smith.

With over 300 speakers engaging in 125 discussions across five stages, the Summit offered a wealth of insights into the latest advancements and trends in fintech. It explored several key topics, including:

  • The next generation of financial technology
  • Integrating financial services into non-financial platforms and the benefits of open banking
  • The role of fintech in promoting sustainable finance and combating climate change
  • The impact of decentralised technologies and digital currencies on the financial sector

Of course, another major focus at DFS was artificial intelligence, with many leaders exploring how AI is transforming financial services, from fraud detection to personalised banking experiences. For example, when Singapore-based technology services company Dyna.Ai officially announced the launch of its global operations during DFS, its CEO commented on how with the right AI technologies, banks have the potential to turn dormant accounts into valuable assets, driving growth and enhancing customer engagement.

Gearing up for Money20/20 Europe

Building on the insights gained from the Dubai FinTech Summit, Moore Kingston Smith is excited to announce its attendance at Money20/20 Europe, which will take place in Amsterdam from 4 to 6 June. This event is Europe’s largest fintech gathering and a crucial platform for industry leaders to debate and shape the future of financial services.

It will be interesting to see if the positivity and momentum observed in the Middle East extends to the European fintech scene.

Ryan Day, head of Technology, and Tom Moore, head of Financial Services and Fintech, will represent Moore Kingston Smith at Money20/20, delving into the latest trends, advancements and opportunities within the fintech landscape, and hearing insights from leaders at venture capital firms, banks, regulatory bodies and fintech companies.

We are particularly interested in sessions covering AI in fintech, regulatory innovations, as well as the potential and challenges of blockchain technology and digital currencies.

If you are attending Money20/20 and would like to connect and collaborate, please get in touch.

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