Fintech Surge 2024: Exploring the Future of Money in Dubai
The Fintech Surge 2024, the largest fintech event in the Middle East and North Africa, has begun at Dubai Harbour. This event brings together experts in fintech, banking, and digital innovation from over 70 countries. The first day focused on investing in fintech, with discussions on the future of money and strategic steps for investors.
Key Discussions and Insights
Charlie Graham-Brown, CIO & Co-Founder of Seedstars, highlighted the vast opportunities in the fintech market, emphasizing the growth potential as we approach 2030. He noted the importance of embedded finance and technologies like generative AI in driving this sector’s evolution.
Another significant discussion was on ‘Becoming IPO Ready’, where Dr. Sabah al-Binali from Abu Dhabi Securities Exchange spoke about the challenges entrepreneurs face with regulations and the benefits of IPOs for expansion.
Global Fintech Market Trends
The global fintech market, valued at approximately US$226.71 billion in 2023, is expected to grow to around US$917.17 billion by 2032. Insights were shared on regional trends, investment strategies, and emerging technologies like blockchain and AI.
Alisha Golden from TechStars discussed the future of fintech being embedded in various companies, similar to Apple Pay and Starbucks, highlighting the need for companies to integrate finance into their services.
Event Highlights
Fintech Surge 2024 will feature over 100 exhibitors, 120 speakers, and more than 1,200 investors over four days, with discussions on digital banking and finance.
Doubts Revealed
Fintech -: Fintech stands for financial technology. It refers to new technology that aims to improve and automate the delivery and use of financial services, like banking and investing.
Dubai Harbour -: Dubai Harbour is a large waterfront development in Dubai, United Arab Emirates. It is known for its beautiful views and is a popular place for big events and gatherings.
Middle East and North Africa -: The Middle East and North Africa, often abbreviated as MENA, is a region that includes countries in both the Middle East and North Africa. It is known for its rich history and diverse cultures.
Embedded finance -: Embedded finance is when financial services are integrated into non-financial platforms or services. For example, when you can pay for something directly within an app without using a separate payment service.
AI -: AI stands for Artificial Intelligence. It is a type of technology that allows machines to mimic human intelligence, like learning and problem-solving.
IPO -: IPO stands for Initial Public Offering. It is when a company offers its shares to the public for the first time, allowing people to buy a part of the company.
