SAUDI ARABIA, Dec 6, 2022 - (ACN Newswire) - World Fintech Show, a global fintech series managed by Trescon offered Saudi Arabia's fintech industry a platform for significant advancement. The event witnessed the launch of Fintactics Studio and its commitment to shape the future of fintech in the Kingdom of Saudi Arabia. World Fintech Show, which was held at the InterContinental in Riyadh, aided in establishing strategic alliances aimed at transforming the financial services industry for the foreseeable future.World Fintech Show played host to the announcement and commencement of numerous partnerships. Here are some exclusive highlights of the event.
Launch of Fintactics Studio and VC Fund:
Fintactics Studio, the first dedicated Fintech venture builder in the region supported by a 150Mn SAR CMA authorized VC fund, will concentrate on supporting internal businesses and investing in cutting-edge, high-growth fintech ventures throughout the kingdom, MENA, and the rest of the world.
Fintactics Venture Builder has emerged out of Revival Lab and is launched under Arbah Capital.
Trescon hosted senior executives from the organizations:
Saad AlMoammar, Chairman, Revival Lab
Mohammed Al Maghlouth, Co-Founder and CEO, Revival Lab
Haitham Al Sahafy, CEO, Fintactics
Hisham Al Rashed, Board Member, Arbah Capital
Mahmoud Koohaji, CEO, Arbah Capital
Partnership Agreement of Fintactics & Aion Digital
Success is contingent on having the ideal partnerships. Aion Digital, a digital banking platform that strives to revitalize banking through customer-centric digital transformations that are adaptable for financial institutions, is working with Fintactics as part of the builder's mission to shape the financial landscape of the future. Both companies will be able to jointly develop and expand important digital products in the GCC and MENA thanks to this collaboration.
The signing included:
Haitham Al Sahafy, CEO, Fintactics
Mohammed Al Maghlouth, Managing Partner Fintactics
Abdulatif Al Rajhi, Chairman, Aion Digital
Ashar Nazim, Founder and CEO, Aion Digital
Signing of Reg-Tech (Lezaam) JV agreement
Businesses today require a fully digital onboarding experience to lead customers through their onboarding process as business resilience requirements and consumer expectations have grown. RegTech-as-a-Service with all features and capability required for digital onboarding and eKYC from journey orchestration, compliance and AML screening, and digital forensics is what Leza'am, a new joint venture between Fintactics and Aion Digital, is offering. Retail and corporate customers for GCC and non-GCC nationals with add-on services for fraud and risk management.
The signing included:
Haitham Al Sahafy, CEO, Fintactics
Mohammed Al Maghlouth, Managing Partner Fintactics
Abdulatif Al Rajhi, Chairman, Aion Digital
Ashar Nazim, Founder and CEO, Aion Digital
Partnership Agreement of Fintactics & Bitfy Holdings
To accelerate the adoption of Distributed Ledger Technologies in financial and non-financial verticals in the Kingdom, Fintactics has invested in Bitfy Holdings, a Brazilian-based venture pioneering "Blockchain as a Service" to offer tokenization of illiquid assets.
Through cooperation with the relevant regulatory bodies in the Kingdom, CMA & SAMA, Fintactics will be able to localize blockchain tokenization and securitization technologies of physical and illiquid assets. This investment was followed by a partnership at World Fintech Show.
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