Why Riyadh is becoming a global meeting point for fintech

Saudi Arabia is rapidly becoming a key destination for the global fintech industry, with Riyadh increasingly serving as a meeting point for regulators, financial institutions, investors, technology companies and entrepreneurs shaping the future of financial services.

According to Annabelle Mander, Executive Vice President of Tahaluf, the Kingdom’s fintech momentum reflects years of focused investment in the infrastructure needed to support innovation.

“Saudi Arabia’s rise as a fintech destination is the result of a long-term national vision being converted into market infrastructure,” said by Mander. “Through Vision 2030 and the Financial Sector Development Program, the Kingdom has combined progressive regulation, advanced digital infrastructure, strong consumer adoption and sustained investment.”

The scale of digital adoption reflects this transformation. Electronic payments represented 85% of retail payments in Saudi Arabia in 2025, with around 14.6 billion electronic transactions completed during the year.

Riyadh’s Fintech importance, however, extends beyond market size. Its concentration of regulators, financial institutions, investors, technology companies and a substantial domestic market creates an environment where innovation can move more directly towards regulatory engagement, investment, partnerships and commercial deployment.

The inaugural Money20/20 Middle East reflected this growing momentum, bringing together more than 38,500 attendees, 450 global fintech brands and over 1,050 investors.

However, for Mander, the value of such platforms lies in what happens beyond the conversations themselves.

“Industry platforms compress months of conversations into a few focused days by bringing regulators, capital, customers and technology providers into the same environment,” she said.

Money20/20 Middle East connects established global institutions with Saudi and regional businesses, creating opportunities for fintech companies to engage investors, explore partnerships and understand routes into the market.

“The real measure of success is not simply attendance,” Mander said. “It is whether those conversations develop into investments, commercial partnerships, market-entry decisions and sustained relationships.”

This collaborative approach is becoming increasingly important as financial services evolve. Artificial intelligence, open finance, digital payments and cybersecurity are creating new opportunities, but their successful deployment requires regulators, financial institutions, fintechs, technology providers and investors to work together.

“Collaboration is most valuable when it shortens the distance between an idea, regulatory approval, investment and a paying customer,” said Mander.

For international fintech leaders considering Saudi Arabia, three questions are particularly important: the route to regulation, the route to customers and the route to scale.

They are looking for clarity around licensing and compliance, evidence of commercial demand, strong local partnerships, talent, investment and infrastructure. Saudi Arabia’s appeal increasingly lies in bringing these elements together within a market with sophisticated financial institutions and strong digital adoption.

“The Kingdom is not simply inviting international companies to enter; it is creating the conditions for them to build a meaningful long-term presence,” Mander said.

Looking ahead, Mander expects artificial intelligence to become increasingly embedded across fraud prevention, financial crime monitoring, customer service, software development and risk management. Open and embedded finance will also reshape how consumers access payments, credit and other financial services through platforms beyond traditional banking.

At the same time, cybersecurity, digital identity, operational resilience and consumer protection will become increasingly important as financial services become more connected.

“Saudi Arabia is well positioned because these elements are developing together,” Mander said. “The Kingdom has regulatory ambition, advanced payments adoption, established institutions and a growing community of founders and investors.”

This convergence gives Riyadh an opportunity to play a broader role in the global fintech landscape, not simply as a market adopting the next generation of financial services, but as a place where global and regional players can collaborate to help shape it.

As fintech momentum continues to build, Riyadh is increasingly becoming the destination where the industry connects, collaborates and turns conversations into opportunities.