The Dubai Fintech Summit 2023 has come to a close, and what a fantastic event it was! Hosted by the Dubai International Financial Centre (DIFC), the event aimed to position Dubai as a top global financial center.
The summit proved to be a resounding success bringing together some of the most influential people in the fintech industry from the region and around the world and was an excellent opportunity for industry experts, policymakers, investors, and entrepreneurs to discuss the latest trends and innovations in the fintech industry.
Dubai Fintech Summit 2023: An overview
- The event was held at Madinat Jumeirah Conference Center and attracted 5,000 industry professionals, 100+ exhibitors, 120+ speakers, and delegates from over 50 countries.
- The central theme of the summit was ‘New Global Home to the Future of FinTech and Finance.’
“We are committed to continuing empowering Dubai as the leader of fintech innovation in MENA”: H.H. Sheikh Maktoum
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, opened the event with an inspiring welcome address.
The opening keynote at the Summit was delivered by H.E Essa Kazim, Governor of DIFC.
Key highlights and trends from Dubai Fintech Summit 🤩🤩
- UAE's economy is booming! With a 7.6% expansion in 2022, the country is aiming to hit a 7% growth this year and we can't wait to see what's in store.
- The future of fintech is green and smart! Sustainability and AI were the stars of the show, taking center stage in every discussion.
- Dubai is becoming the global hub for crypto! With Ripple's announcement of its new office in DIFC Dubai, and Coinbase considering Dubai as its new international headquarters, the UAE is leading the way in cryptocurrency innovation.
- Get ready for big moves in the banking world! Southeast Asia's biggest lender, DBS Group Holdings Ltd, is planning to expand in Dubai, and the implications for the industry are massive.
- Personalization is key to providing a seamless payment experience for customers, and the region is taking it to the next level with the advancement of open banking. Watch out for exciting developments in this space!
Tap Payments’ in discussions🎤🎤
A new credit prospect: Buy Now, Pay Later
Ahmad AlWazzan, the MD- UAE at Tap Payments, participated in a panel discussion on the growth of Buy Now Pay Later (BNPL) across the region and its future prospects. He was joined on the panel by:
Ali Imran, COO at Commercial Bank of Dubai;
Ali Al-Saeed, Founder & CEO at Blue Pay;
Tariq Sheikh, Founder & CEO at Postpay
Moderator: Arjun Vir Singh, Founder of Couchonomics and Partner at Arthur D. Little.
Ahmad responding as to why Tap Payments does not enter the BNPL space.
"Our expertise lies in payment enablement. While we could explore the BNPL space, we prefer to partner with players who have specialized knowledge in this area. Our goal is to provide SMBs and startups with the easiest way to accept BNPL payments without requiring any extra integration efforts. By staying true to our core competency, we can continue to deliver best-in-class payment experiences across MENA”
The Dubai Fintech Summit 2023 showcased the rapid pace of innovation in the MENA region's fintech industry. The event provided valuable networking opportunities and insights into the industry's future, and we eagerly anticipate next year's summit.