UAE Business: Mastercard study reveals the top technologies powering fintech solutions – Gulf Digital News

UAE Business: Mastercard study reveals the top technologies powering fintech solutions – Gulf Digital News

Mastercard study on the state of fintech in the Middle East and Turkey markets found that data analytics and artificial intelligence (AI) are the top technologies of the Fourth Industrial Revolution that are powering fintech solutions.

The white paper titled ‘The Future of Fintech: Smart, Scalable, Collaborative’ was released during Fintech Surge in Gitex Global 2022, one of the leading technology events in the Middle East. Mastercard is a Strategic Sponsor of Fintech Surge where senior global and regional executives are speaking at multiple panel discussions, fireside chats and presentations.

Announced during a panel discussion, the white paper findings were discussed by industry leaders who highlighted how young, technologically savvy, and informed consumers are driving the trend for fintech products and services across the Middle East and Turkey. The metaverse, AI, 5G, and data analytics are making hyper-personalised experiences possible for consumers, which, in turn, fuel the demand for a 24/7 digital experience.

The study highlighted that fintech are disruptors of the status quo in the pursuit of a better tomorrow. They are agile and able to identify opportunities , often during times of upheaval such as the 2008 financial crisis and Covid-19 pandemic, when the need for innovation is heightened.

The global fintech