Day Two of Money20/20 Middle East Showcases Cutting-Edge Fintech Innovations at Record-Breaking Gathering

The second day of Money20/20 Middle East in Riyadh united global leaders from the fintech, banking, and financial services industries to debate the future direction of finance across the region.

The day’s sessions centred on themes including artificial intelligence in financial services, regulatory shifts, inclusive innovation, and capital strategies. Distinguished speakers included Hon. Caroline D. Pham, Acting Chairman of the US Commodity Futures Trading Commission, Mario Nobile, Director General of the Agency for Digital Italy, and Colin Payne, Head of Innovation at the UK Financial Conduct Authority. Discussions examined digital transformation, data governance, cybersecurity, and the evolving landscape of payments and treasury services, with contributions from leaders at Standard Chartered Bank, JP Morgan Payments, Revolut, Wio Bank, Abdul Latif Jameel Finance, Citi Group, Mastercard and Swift.

Visa unveiled a pioneering acceptance solution now being deployed locally in Saudi Arabia – the first of its kind for the company. Aligned with the Kingdom’s regulatory and infrastructure frameworks, this initiative is designed to fast-track digital commerce adoption among merchants nationwide. The announcement also introduced new product capabilities to help businesses manage payments with enhanced flexibility, compliance, and interoperability. These developments highlight Saudi Arabia’s rapid emergence as a global fintech hub where innovative payment solutions are reshaping markets.

Annabelle Mander, Executive Vice President, Tahaluf, commented: “Money20/20 Middle East has witnessed unprecedented momentum over the past two days in Riyadh. With more than 1,000 investors attending – split evenly between local and global – a surge of international interest has increased in Saudi and the wider region. Our international audience has grown by 63%, with major VCs and angel investors eager to enter Saudi Arabia. Money20/20 remains the only platform that brings the entire ecosystem under one roof – a true one-stop shop for innovation, capital, and opportunity.”

SILQFi revealed Omni, a new platform for embedding finance into the everyday operations of SMEs, launched following its acquisition of OXO, a key Saudi POS provider. The system merges point-of-sale, procurement, payments, and real-time credit access into one seamless interface. It aims to simplify merchant operations – from inventory sourcing to cashflow management – while offering improved access to capital via integrated financial tools.

The Lending Hub presented its new mobile application, redefining how individuals can obtain funding and explore investment opportunities. The platform connects applicants with investors quickly, securely, and transparently, providing users with easier access to finance while enabling investors to tap into diverse opportunities for wealth growth.

Limitless Payments was launched as a next-generation fintech investment vehicle, set to transform payments, foreign exchange, and financial operations across emerging and high-growth markets. Based in Riyadh, Limitless is being established as a joint stock company with an initial $100 million fund and over $15 billion in existing gross transaction volume. This initiative unites three leading fintech firms: Xpence, Visa’s GCC B2B spend management partner; GC Partners, a regulated payments and treasury services provider operating in the UK, UAE and Hong Kong; and Numito, a multi-bank FX trading platform optimising order execution and processing.

Renowned Australian futurist Brett King introduced his new book at the event. Co-authored with Jim Marous, Efi Pylarinou, Paolo Sironi and Richard Turrin, ‘Branch Tomorrow’ provides a data-rich examination of the cultural and structural transformation of banking, focusing on the decline and reinvention of bank branches in an era shaped by technology and changing customer expectations.

Jayesh Patel, CEO of Wio Bank, spoke on the central role digital banks play in supporting SME growth across the region. He explained how Wio Bank is redefining the sector with a digital-first model that combines business banking, personal finance, and investment services, enabling customers to manage and grow their wealth more effectively.

Featuring more than 450 fintech brands and over 1,050 investors from around the world, Money20/20 Middle East has become the largest and most influential fintech event ever staged in the region. The gathering is held under the patronage of H.E. Mohammed Aljadaan, Saudi Arabia’s Minister of Finance and Chairman of the Financial Sector Development Program Committee.

Founding partners of Money20/20 Middle East include AlRajhi Bank, Riyad Bank, STC Bank, Saudi National Bank, Tamara, Visa and Vision Bank – a collective commitment to accelerating financial innovation across the region. They are joined by a wide network of sponsors and partners such as Abdul Latif Jameel, Barq, Banque Saudi Fransi (BSF), BIM Ventures, Elm, Ejada, Enjaz, MasterCard, Neo Leap, Saudi Tadawul Group (STG), SCCC by STC, SIMAH, Tamam and Tiqmo, all of whom are driving transformation in the sector.

With its theme “Where Money Does Business,” the event features partnership pavilions, executive lounges, and curated networking programmes, ensuring participants gain maximum value from their involvement.