What if Saudi Arabia Became The Future of Finance?

What we’ll cover today:

🤔  Saudi Arabia Becoming Future of Finance?

🚀  Big Things in UK Fintech - Simon Taylor

💬 This is Great for Fintech!

🔗 The Event Roundup 

Saudi Arabia Becoming Future of Finance?

Experts believe the Kingdom is on track to lead in decentralised finance (DeFi).

Financial services with no middlemen and instant transactions for everyone are on the horizon.

Thanks to the Saudi Central Bank and Vision 2030, this future is within reach.

Saudi Arabia is becoming a key player for fintech startups to innovate safely.

The government is providing a regulatory sandbox for controlled experimentation.

Traditional banks could soon merge with DeFi, combining innovation and security.

Key developments:

• Regulatory support: The Saudi Central Bank (SAMA) backs fintech and DeFi.

• Vision 2030: The plan is shaping a digital-first financial landscape.

• Fintech Sandbox: A safe space for startups to test within regulations.

• Traditional-DeFi Hybrid: Collaboration between banks and DeFi could transform financial systems.

Challenges like cybersecurity and public awareness remain.

Here’s the whole article

1. Big Things in UK Fintech - Simon Taylor

Simon Taylor is a well-known figure in the fintech industry, particularly for his expertise in blockchain technology and fintech.

Taylor is also known for hosting the Fintech Insider podcast, where he discusses various topics related to financial technology with other experts in the field. 

This is a tweet from Simon, giving his views on “Big things in UK Fintech - Pockit has acquired Monese.” 

Here’s the Tweet

2. This is Great for Fintech!

This is a podcast between Rex Salisbury and Simon Taylor. Both are significant fintech figures. 

In this podcast, they delve into the current state of OpenAI and its implications for the fintech industry. They discuss OpenAI’s recent $6.6 billion VC round at a $157 billion valuation, making it the third-largest private tech company in the world. Is this peak OpenAI, or is there more to come?

They explore the competitive landscape of AI models, the productivity paradox in tech, and how AI promises to impact productivity growth. 

Here’s the Podcast.

1. Relyance AI’s $32m funding boost aims to revolutionise enterprise AI data governance.

Relyance AI, a leader in AI-powered data governance, announced a significant $32.1m Series B funding round led by Thomvest Ventures, with substantial contributions from M12, Microsoft Ventures Fund.

2. Tanzanian Fintech Nala Raises $40M in Series A to Accelerate Growth and Expansion.

Tanzanian payments company Nala has secured $40 million in Series A funding, which it plans to use for global expansion and to strengthen its payment systems across Africa. Based in Kenya, Nala is a fintech startup that enables money transfers from the UK, US, and EU to Kenya, Uganda, Tanzania, Rwanda, and Ghana.

3. Lakeside Bank partners with Volante Technologies to revolutionise real-time payments

Lakeside Bank, a prominent community bank with assets totalling $2.64bn, primarily serves mid-sized and larger businesses in Chicago.

On the other hand, Volante Technologies stands out as a global leader in Payments as a Service (PaaS), offering advanced payment solutions that streamline operations across financial institutions.