On May 8 and 9, Dubai hosted the inaugural Dubai FinTech Summit under the guidance of First Deputy Ruler of Dubai, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Minister of Finance and Deputy Prime Minister of the United Arab Emirates.
DIFC (Dubai International Financial Centre), which is one of the leading international financial centers in the Middle East, Africa, and South Asia (MEASA) region, will organize the summit. According to my analysis, more than 5,000 technology experts and global FinTech C-suite executives will convene at Madinat Jumeirah to discuss the industry’s most recent innovations and challenges.
Research and Markets, a popular market analysis firm, shows that the global FinTech sector is expanding swiftly and is projected to be worth $305 billion by 2025. When I researched, according to a report published by DIFC FinTech Hive in 2022, the value of the industry in the MEASA region is projected to double from $135.9 billion to $266.9 billion between 2021 to 2027.
A Brief Introduction to Dubai Fintech Summit 2023
The Dubai FinTech Summit 2023 will provide a unique venue for industry leaders, startups, and investors to network and monetise on the expanding FinTech market in the Middle East and beyond. The MENA region’s FinTech venture capital landscape is flourishing, with over 800 startups worth $15.5 billion. As per the UAE Fintech Market Report on trends, growth, and forecasts (2023 – 2028) by Mordor Intelligence, Dubai is an exclusive home to more than twenty percent of the world’s FinTech enterprises. Furthermore, the FinTech Summit will feature several panel discussions, fireside conversations, and more than 100 exhibitors.
According to the Mastercard 2022 Digital Payments Index report, digital payments are acquiring traction in the MENA region. In the past year, more than 85 percent of respondents stated that they utilized at least one alternative payment method, indicating an evolution from transactions made with cash. The UAE distinguishes itself among MENA nations in its readiness to adopt an electronic society. Visa is the co-host sponsor, and Triterras is a bronze sponsor for the summit. Visa reports that 52 percent of the population of the UAE is already contactless or will be by the end of 2024.
The Summit will include a roster of eminent lecturers from domestic and international communities. Among the notable speakers are:
- Abdulla bin Touq Al Marri, UAE Minister of Economy
- Bill Winters, Chief Executive of Standard Chartered
- Brad Garlinghouse, CEO of Ripple
- Piyush Gupta, CEO of DBS Bank Singapore
- Jenny Johnson, President and CEO of Franklin Templeton
- Brian Armstrong, CEO and Co-Founder of Coinbase
Mohammad Alblooshi, Director of the DIFC Innovation Hub and FinTech Hive, highlighted the significance of the Dubai FinTech Summit. Nearly sixty percent of all Gulf FinTech firms are headquartered in the city. With the industry expanding at an unprecedented pace, it is essential for stakeholders to discuss the upcoming challenges and opportunities. The Dubai FinTech Summit pledges to bring together the industry’s most influential figures with a programme that will engage and inspire audiences around the world.”
The Summit will provide attendees a forum for engaging in discussions and exchanging ideas regarding regulatory frameworks, future opportunities and emerging trends. The event will feature discussions on a variety of topics, such as:
- Building the Economies of the Future
- Crypto and the Evolving Regulatory Framework
- The World of Finance: Where are the Women?
- Building a Resilient and Sustainable Financial Sector in the Age of Disruption
The panel discussions will provide a forum for experts to share their perspectives on current and upcoming issues in the FinTech industry and investigate how they can influence the financial industry in the future. Participants will acquire valuable insights from industry leaders and experts on these crucial issues. The agenda claims to be informative, presenting participants with significant possibilities for networking and collaborating.
Also Read: What Lies Ahead for the U.S. in the Wake of Crypto Criticism?
All About the Key Themes & Learning Outcomes of Dubai Fintech Summit
The key themes and learning outcomes are listed for your reference here.
Key themes
- Digital Payments
- Crypto & Web3
- Regulation & Policymaking
- Embedded & Open Finance
- Startup, Investment & Wealth
- ESG, Sustainability & Macroeconomics
- Future of Fintech & Finance
Learning outcomes
- Climate Change Financing
- Future of Payments
- Creating and Enabling the Metaverse Economy
- With FinTech comes greater Responsibility
- Building Tomorrow’s Financial Institution
- The Potential of Payments in the Emerging Markets
- Navigating Uncertainty in the Age of Digital Finance
- Shaping the Future of early-stage Startups
- Money: Are we seeing a Paradigm Shift?
- Challenges to the Global Adoption of Crypto
An Overview of Who Can Attend Dubai Fintech Summit by Title & Industry
The candidates who are eligible to attend the Dubai Fintech Summit by title and industry are:
Title
- Chief Financial Officer
- Chief Executive Officer
- Chief Business Strategy Officer
- Chief Compliance Officer
- Chief Commercial Officer
- Chief Innovation Officer
- Chief Information Officer
- Chief Operating Officer
- Chief Information Security Officer
- Chief Securities Officer
- Chief Technology Information Officer
- Chief Partnerships Officer
- Chief Fintech Officer
- Chief Risk Officer
- Chief Product Officer
- Chief of Staff
Industry
- Investment Banks
- Retail Banks
- Government Institutions
- Payment Processors
- Exchange & Clearing Houses
- Insurance Providers
- Business Banking
- E-Commerce
- Accounting
- Wealth Management
- Funds & Investments
- Consultants
- Accounting / Auditing / Law Firms
The takeaway
In my opinion, the Dubai FinTech Summit is your chance to shape the future of finance. Over 5,000 technology professionals and worldwide FinTech executives will gather under the direction of key leaders at this event, which promises to spark debate, encourage creativity, and promote cooperation. I have observed that this summit is a great way to discover the vast opportunities in the Middle Eastern and global FinTech markets, build connections with influential figures, and learn about the sector’s most recent developments, trends, and regulatory frameworks. Be a part of the financial industry’s ground-breaking transformation at the Dubai FinTech Summit. Don’t let this chance to influence the future of banking and FinTech pass you by.
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