Fintech PR
Redefining Finance: KSA Fintech Market Soars at 12.5% CAGR, Fueled by Vision 2030 and Digital Transformation: Ken Research
GURUGRAM, India, Feb. 27, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia fintech landscape is experiencing a groundbreaking transformation, fueled by ambitious national goals outlined in Vision 2030 and a growing appetite for digital financial solutions. Ken Research’s comprehensive report, KSA Fintech Market Outlook to 2028: Shaping the Future of Finance, delves into this dynamic market, projecting a remarkable 12.5% CAGR over the next five years. This press release summarizes the key findings and offers valuable insights for investors, financial institutions, fintech startups, and stakeholders seeking to capitalize on this flourishing ecosystem.
Market Overview:
Several key factors are propelling the KSA fintech market towards a future brimming with innovation:
- Vision 2030: The government’s ambitious plan prioritizes financial inclusion and digital transformation, creating a conducive environment for fintech adoption through supportive regulations and infrastructure development.
- Rising Mobile Penetration: The Kingdom boasts a high smartphone penetration rate, driving the adoption of mobile-based financial services and creating a fertile ground for m-commerce and digital wallets.
- Shifting Consumer Preferences: Younger generations are increasingly tech-savvy and open to embracing alternative financial solutions, seeking convenience, personalization, and transparency.
- Growing Unbanked Population: A significant portion of the population remains unbanked or underbanked, presenting a significant opportunity for fintech solutions that cater to their financial needs.
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Segmentation Spotlight:
Ken Research provides a detailed segmentation of the market, allowing you to pinpoint your target audience effectively:
- By Payment Solutions: Mobile wallets, digital payments, and online money transfers dominate, followed by emerging segments like contactless payments and Buy Now, Pay Later (BNPL) solutions.
- By Lending & Financing: Peer-to-peer (P2P) lending, alternative credit scoring, and crowdfunding platforms are gaining traction, offering financial services to previously underserved segments.
- By Wealth Management: Robo-advisors and digital wealth management platforms are attracting investors seeking automated and personalized investment solutions.
- By Insurance: Insurtech startups are offering innovative insurance products and leveraging data analytics for personalized risk assessment and pricing.
Competitive Landscape:
The KSA fintech market features a diverse mix of players:
- Global Fintech Giants: Established players like PayPal, Stripe, and Ant Group are entering the market with their global expertise and advanced technologies.
- Regional Powerhouses: Homegrown players like STC Pay, SADAD, and Yaqeen are offering innovative solutions tailored to local needs and regulations.
- Emerging Startups: Agile startups are disrupting specific segments with niche offerings, catering to unbanked populations and offering specialized financial services.
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Recent Developments:
- Regulatory Sandbox: The Saudi Arabian Monetary Authority (SAMA) has established a regulatory sandbox to facilitate innovation and support the growth of new fintech players.
- Open Banking Initiatives: The implementation of open banking APIs is enabling collaboration between traditional financial institutions and fintech startups, fostering innovation and competition.
- Focus on Financial Inclusion: Initiatives like the National Payment System and the Saudi Digital Wallet are promoting financial inclusion and providing access to digital financial services for all.
Future Outlook:
The KSA fintech market is poised for exciting developments in the coming years:
- Rise of Blockchain Technology: Blockchain will be increasingly adopted for secure and transparent financial transactions, smart contracts, and trade finance solutions.
- Emergence of Artificial Intelligence: AI-powered solutions will personalize financial services, enhance fraud detection, and improve risk management capabilities.
- Focus on Cybersecurity: As the market matures, cybersecurity will become a top priority to ensure data protection and consumer trust.
- Collaboration and Partnerships: Collaboration between fintech startups, traditional financial institutions, and government agencies will be crucial for driving further innovation and market growth.
Challenges to Address:
Despite its promising future, the market faces some hurdles:
- Regulatory Uncertainty: Navigating the evolving regulatory landscape can be challenging for new entrants.
- Cybersecurity Concerns: Ensuring robust cybersecurity measures is essential to build consumer trust and prevent financial fraud.
- Financial Literacy: Raising financial literacy levels among the population is crucial to drive wider adoption of fintech solutions.
Why This Report Matters:
This report empowers various stakeholders to navigate the KSA fintech market:
- Investors: Identify lucrative investment opportunities across different segments and technologies.
- Financial institutions: Gain insights into emerging trends, customer needs, and regulatory requirements to adapt their offerings and stay ahead of the curve.
- Fintech startups: Understand the competitive landscape, identify niche opportunities, and develop innovative solutions that cater to specific market needs.
- Policymakers: Develop policies that support innovation, promote financial inclusion, and ensure a fair and competitive market environment.
- Consumers: Understand the benefits and risks of fintech solutions, make informed financial decisions, and leverage technology to manage their finances effectively.
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Taxonomy
By service vertical
- Payments and Currency Exchange
- Lending and Finance
- Business tools
- Personal financing
- Private fundraising
- Capital market
- Infrastructure
By Region
- Riyadh
- Khobar
- Dammam
- Jeddah
By Investment Stage
- Series A
- Series B and above
- Early (Pre-seed, Seed)
- Undisclosed
By Company Stage
- Testing License
- Active
- Idea stage
- Pre commercial
For More Insights On Market Intelligence, Refer To The Link Below: –
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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
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Fintech PR
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.
Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.
Purpose, Innovation, and Partnerships
Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.
Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.
Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:
- The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
- On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
- The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.
Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.
Deepening Bonds: Key Web3 Ecosystems and Communities
Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.
These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.
“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.
“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.
In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.
The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.
Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.
Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.
This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.
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HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
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