FintechFintech tends to be associated with disruptive startups upsetting the status quo with challenging concepts such as Blockchain, but in fact it is simply be the intersection of financial services and technology.According to Chris Skinner in 2017 the industry is focusing on removing friction in the customer journey; the rise of insurtech; the rise of regtech; chatbots, machine learning & AI; IoT and of course security.
WHY FINTECH AT GITEX?
Investment in financial technology (fintech) in the Middle East is set to grow by 270% this year as the region looks to finally gain momentum in the rapidly growing global sector. The UAE leads the way with the most support and is attracting the most promising enterprises. For example, German challenger bank Fidor has opened up an operation in Dubai and telco Etisalat launched a mobile wallet to enable its customers to make payments and money transfers on their smartphones.
- Visitors came from 110 countries to source FinTech products
- 18,725 of visitors are buyers of fintech
- 12,920 have a budget in excess of $100,000
- 4,134 buyers are attending GITEX Tech Week to purchase FInTech products at the event
FINTECH Facts & Figures
2017, THE YEAR BOB’S GUIDE PREDICTS A BANK WILL FALL
100 MILLION CONTACTLESS CARDS NOW IN CIRCULATION* Visa 2017
28% OF US SR EXECS HAVE INVESTED $10M+ IN BLOICKCHAIN TECH* Deloitte 2017 survey
$50M EXPECTED ME FINTECH FUNDING IN 2017
The financial technology industry could be at the start of a period of rapid growth in the Middle EastRead more
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