“You could just tell how excited everyone is and how much opportunity there is here.” – 02:43
Micky Tesfaye, Head of Audience Development at Money20/20, joins Remy Blaire from Money20/20 Middle East in Riyadh to discuss the significant developments emerging from the Money 2020 Middle East conference. The event serves as a platform to highlight the digital transformation taking place within Saudi Arabia’s economy, featuring leaders from the Saudi Central Bank and the Minister of Finance.
Micky begins by sharing his observations about the sheer scale of activity at the conference, noting that over 451 brands, nearly a thousand investors, and more than 150 startups are represented. This impressive turnout reflects the remarkable growth and investment potential within the region’s fintech landscape.
Remy and Micky discuss the conference’s target audience, which is both global and specifically focused on Saudi Arabia. Micky emphasizes that as the Kingdom becomes increasingly open to business, it is establishing itself as a prime destination for investment in the fintech sector. The event aims to connect international, regional, and domestic players within this evolving ecosystem.
Throughout their conversation, Micky highlights some of the standout moments from the conference, particularly the palpable sense of transformation occurring in Saudi Arabia. He describes the excitement among attendees and exhibitors, all eager to engage with the burgeoning opportunities in the region.
As the discussion comes to a close, Remy asks Micky for his key takeaway from the event. Micky underscores that fintech is now a global phenomenon, with Saudi Arabia experiencing a significant shift towards digital payments, which have reportedly increased to 79% over the past year. This statistic illustrates the rapid changes taking place in the Kingdom and the collaborative opportunities available for those looking to expand their reach in the region.