FinTechs and banks unite for innovation at DIFC’s Dubai FinTech Summit dialogues

FinTechs and banks unite for innovation at DIFC’s Dubai FinTech Summit dialogues

Dubai, United Arab Emirates: Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region hosted the second Dubai FinTech Summit (DFS) Dialogues this week, powered by the Innovation Hub. Heads of 10 leading regional banks and FinTechs were invited to unpack the challenges facing the financial sector and deliberate on how the industry can de-risk and build resilient, sustainable financial institutions.

According to recent research by Report Ocean, the global FinTech Lending Market was valued at approximately USD573.05 bn in 2021 and is anticipated to grow with a healthy growth rate of more than 27.4% over the forecast period 2022-2029.

Hosting the roundtable, Mohammad AlBlooshi, Head of DIFC Innovation Hub and FinTech Hive, said, “As an industry predicated on confidence and trust, we are currently seeing the banking sector experience a time of disruption. Given global headwinds, we have an opportunity to build more resilient institutions through collaboration between banks and FinTechs.”

Commenting on the session he added, “Through conveners such as this roundtable and the first-ever Dubai FinTech Summit in May, we are facilitating dialogue and avenues of collaboration for long-standing financial institutions, regulators, and promising entrepreneurs to together map out how