COGNNA’s Post

Saudi Arabia's fintech sector is on fire! The progress in driving financial inclusion rivals even the most developed markets as we see in this graph, which compares Fintech adoptions rates: https://lnkd.in/gZqH5JQc #corporate_cards #nqoodlet #fintechstartups

This is the first installment of our 7-part deep dive into the Saudi fintech ecosystem...looking forward to your feedback. :-) Jeff #fintech #ksa #tech #ecoystem #vc

Join us as we dissect the strategies, tactics, and future outlook of Saudi Arabia’s fintech landscape. This article is a must-read for anyone interested in the intersection of technology and financial services. #Fintech #SaudiArabia #KSA #Vision2030 #FinancialInnovation #Technology #Finance #DigitalTransformation #EconomicGrowth #FintechStrategy #SaudiFintech #BLKPartners https://lnkd.in/gDj4xTQK

Saudi Arabia’s fintech sector has made significant strides as it nears its goal to become a regional financial hub. To date, more than SR4 billion ($1 billion) has been invested in local fintech companies, with over 100,000 individuals participating in related events and training programmes. The Vision 2030 goals include the establishment of at least 525 fintech companies by 2030, up from 200 in 2023, the creation of 18,000 fintech job opportunities, up from approximately 5,400 in 2023, contribute SR13.3 billion to the gross domestic product, a substantial increase from around SR3.75 billion in 2023, and achieve SR12.2 billion in direct venture capital contributions, compared to SR5.2 billion in 2023. Read the full article in the link below: https://lnkd.in/dMijk2Zm #gulfnews #ProPartnergroup #uaebusiness #ksa #business #ksabusiness #saudibsiness #saudiarabia #finance #vision2030 #saudivision2030 #fintech

I won't lie, sending people to conferences was a difficult one for me at first. Not like I wanted to go instead or anything (I'd rather do business over Google Meet any day) but just because everything I know is about ROI. I love building systems, and all my knowledge is around doing that for B2B SaaS Startups. I've built my business and life around the fact I can look at a business, and instantly know what they need to build a system where they can put a dollar in and take 7 out (sometimes 1:30 when the algorithm is hitting just right) I love quantifiable things. Ads, e-mail, demo bookings, signup tracking, attribution, etc. I'll happily spend weeks of my life altering small details to turn a 30% bounce rate into a 26%. But conferences and events? It kinda defies all of that. Sure, you can try and run it like a funnel (I did at first). I setup a whole system to sync a rep's iCloud contacts into our CRM, and a business card scanner app to do the same, assign it to the rep, then run it all through Floqer to fill in all the details on phone number, linkedin profile, work emails, company, Job title, pile it back in the CRM, and then place it into fully synced Linkedin, Email & Whatsapp outreach campaigns with personalisation details based on the rep, event, time of day, their business and role, etc. And sure my brain loves watching all the clean data go in, and it gets meetings, and those meetings get deals. But truthfully? ROI doesn't match what we know we can get from Paid Social or Search or Linkedin Outreach or Cold email. Not even close. So why do I still do it? Because in a business like ours, with a niche like we have, there is such thing as unquantifiable value. Yea we know we can just get more clients anytime with a well placed ad campaign from the internal team, but it's worth more than the deal value. The things we gain from watching business get done a different way? From getting reps to spend time with knowledgeable people outside our completely digital bubble? From seeing what centralised banks and international institutions are interested in (which is often different than the things we talk about in digital circles)? That value is immeasurable. And I think that lesson carries over for me to many parts of our business. I'm a marketing tech and numbers guy. I'm always going to be that way. But reminding myself that some things are good, even if they can't be attributed? I think that makes me a more well rounded person in general. 24 Fintech was worth it because of what we learned from the people, not the numbers. All the events we go to are. It provides knowledge and skills and foresight that you can't buy in other ways, that I hope to use on all projects we do (and we're working on some really, really cool ones. There's a De-Fi project we're part of that I'm itching for approval to start screaming about in the coming months). Always think about intangible benefits, you learn so much.

Thanks to initiatives such as Fintech Saudi, there’s been a 20-fold increase in fintech companies and over SR4 billion invested locally. By 2030, the goal is 525 companies and 18,000 jobs. Read the full piece here: https://lnkd.in/drWfKwnR #SovereignGroup #SovereignMENA #SaudiArabia #FintechSaudi #Fintech

How can the Kingdom of Saudi Arabia (KSA) shape the future of one of its most promising industries? KSA’s fintech journey thus far has been remarkable, with great progress in sectors like digital payments, alternative financing, and financial product aggregation, underscoring its commitment to fostering a dynamic and inclusive financial sector. However, to ensure KSA realizes its goal of becoming a leading global fintech hub, tackling key challenges should be an essential part of its strategy. In this Viewpoint, we look at what has already been achieved and suggest some priorities for KSA’s fintech ecosystem to achieve its ambitious goals: https://lnkd.in/ggJdUA6b #fintech #innovation #digitalpayments 

Very insightful session on financial inclusion presented by Carl Manlan on the first week of #fintechsummersessions24, hosted by Fintech Saudi | فنتك السعودية Different interesting aspects were addressed during the session, including the role of financial inclusion solutions in accelerating financial access to credit, insurance and other products and services for less fortunate (unbanked populations around the world). Also, the current and future landscape of financial inclusion in Saudi Arabia and the MENA region, as well as the importance of financial inclusion in SMEs' growth and expansion. One key takeaway💡: the emphasis on customer experience is more crucial than ever. To have a successful fintech solution, you should offer personalized services that are relevant and fulfilling the needs of the targeted users.

Exploring the transformative power of FinTech in Saudi Arabia: Vision 2030's ambitious goals set the stage for a dynamic shift towards a 70% non-cash future by 2025, with a target of 525 active FinTech firms by 2030. This evolution is poised to inject 13 billion riyals into the GDP and create 18,000 jobs, heralding a new era of financial innovation and economic growth. For more info, contact us at capabilities@icg.co #InnovationConsultingGroup #SaudiArabia #SaudiVision2030 #FinTechRevolution #Finance #innovation #Tech

Integrating fintech into Saudi Arabia's economy via Vision 2030 is a transformative opportunity to modernize finance, drive growth, and foster sustainable development. #Fintech #Vision2030 #SaudiArabia