Fintech PR
Global Fintech Fest 2024 Showcases Wide Spectrum of Innovations
Three-Day Mega Event Concludes, Attracting 300 exhibitors from across the world, 100000 Footfalls, 1000 Speakers
MUMBAI, India, Aug. 31, 2024 /PRNewswire/ — India’s Union Minister of Commerce and Industry Mr. Piyush Goyal said on Friday that the Indian fintech ecosystem had turned into a hotbed for innovation. Addressing the Global Fintech Fest 2024 in Mumbai, he said, “As our country is poised to become the third largest economy, the success story of a developed India rests on the wonderful work being done by fintech sector.”
The Global Fintech Fest (GFF) 2024 was presented by the Ministry of Electronics and Information Technology (MeitY), Ministry of External Affairs, Department of Financial Services (DFS), Reserve Bank of India (RBI) and International Financial Services Centres Authority (IFSCA). The conference was jointly organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC).
GFF 2024 featured over 1000 speakers from 70 countries, more than 350 sessions, over 60 product launches, more than 300 exhibitors, and attracted 100,000 footfalls over the three days.
The Global Fintech Fest (GFF) 2024, one of the world’s largest fintech gatherings, concluded here on Friday, August 30, showcasing emerging opportunities and issues in the sector. The three-day event, in its fifth edition, brought together global policymakers, regulators, central bankers, industry leaders, and academicians to explore the future of financial technology, aligned with this year’s theme- ‘Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient’.
In his keynote at the conference, Mr. Shaktikanta Das, Governor, Reserve Bank of India, said, “India is now a fast-growing economy, economic powerhouse with an increasingly tech savvy population. India’s financial sector has witnessed a remarkable transformation, driven, among other factors, by the FinTech sector.”
Mr. Das further emphasized India’s engagement in international fora and bilateral agreements to foster economic cooperation with many countries and said, “Going forward, strengthening financial infrastructure, including cross-border payment systems, will be our key focus areas. India, with its tech talent and evolved financial fintech ecosystem, holds potential to serve as a global hub for digital innovation and fintech startups.”
Mr. Christopher Waller, Member, Federal Reserve Board of Governors of the United States in his address, highlighted the potential role of public and private sectors in advancing cross-border payments. Commenting on the practical aspects of interlinking fast payment systems, Mr Waller said, “Domestic networks need to be developed first. If this condition is not in place, interlinked networks could end up being a road to nowhere.”
Highlighting Federal Reserve’s efforts, Mr Waller added, “We will continue our engagement with international fora to improve the speed and efficiency of cross-border payments and to investigate the issues critical to interlinking payment systems. Our chief focus in the near-to mid-term, however, is continuing to build the FedNow network domestically and increasing participation in the service.”
In a special address on emerging trends in sustainable finance, Mr. Allen Forlemu, Regional Industry Director, Financial Institutions Group, Asia and Pacific, International Finance Corporation (IFC) discussed the critical role of fintech in driving sustainable finance, emphasizing its importance for a greener and more equitable future. “Looking ahead, it is clear that collaboration will be essential and fintech companies, traditional financial institutions, governments and regulators must work together to scale sustainable finance solutions and amplify positive impact on sustainability”, remarked Mr Forlemu.
He further said, “At IFC, we are optimistic, and we believe that by investing in innovation and fostering collaboration across sectors, we can build a financial system that is inclusive, resilient and sustainable for everyone.”
Discussing ‘Recent Developments in Digital Finance – Experiences from German and EU Regulation,’ Dr. Florian Toncar, Parliamentary State Secretary, German Federal Ministry of Finance, commented, “India has shown immense capacity to innovate and spread new technologies at an impressive speed, with UPI being popular far beyond Indian borders.”
Highlighting the importance of cooperation between security agencies and anti-money laundering agencies, Dr Toncar added, “Appropriate resourcing of prosecutors or police, specialized financial investigators, and information exchange across borders and countries is key.”
In his special address, Mr. Harjinder Kang, His Majesty’s Trade Commissioner for South Asia and the British Deputy High Commissioner for Western India, UK Department for Business and Trade, said, “UK finds India as a very important partner, and it’s not just in fintech, but across different sides of the business.”
During a panel on ‘Innovation in Fintech Regulation: Balancing Innovation and Regulation in Global Financial Services,’ Mr. Ryosuke Ushida, Chief Fintech Officer, Financial Services Agency of Japan provided insights into the country’s regulatory landscape and said, “In Japan, our regulatory scope covers a wide range of financial institutions, including banks, insurance companies, investments, and currency exchange. A key focus has been on blockchain technology, in response to past challenges, particularly incidents involving exchanges in Tokyo. Japan has established a comprehensive regulatory framework for the crypto industry.”
Mr. Ushida further emphasized that these regulations are designed not only to protect the industry but also to create a stable environment that encourages innovation. “The goal is to support the growth of international tech companies and ensure that Japan continues to lead in this field, in line with global counterparts”, he added.
Addressing the session on ‘The Role of Technology in Shaping the Future of Global Finance,’ Mr. Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore, said, “The challenges of integrating DPIs across borders—from pricing to technical standards—are significant. Initiatives like Project Nexus are underway to tackle these issues, but achieving seamless connectivity across different markets will take time.”
Mr. Mohanty added, “Fintech must expand beyond payments and lending to include other asset classes such as wealth advisory and capital market infrastructure.”
GFF 2024 also featured a significant global presence, with numerous international leaders contributing to the dialogue on the future of fintech. Among the notable speakers were Mr. Camilo Tellez-Merchan, Deputy Managing Director, UN based Better Than Cash Alliance, United Nations; Mr. Alan Lim, Director, FinTech Infrastructure Office, Monetary Authority of Singapore; Mr. Paul van Sint Fiet, Head of APAC cross-currency solutions, J.P. Morgan Payments; Mr. Edward Bass, Inward Investment Manager, UK Department for Business and Trade; Mr. David Finch, Global Managing Director Fintech, TransUnion CIBIL, and Mr. Jan Pilbauer, Chief Executive Officer, Al Etihad Payments.
The event also saw eminent leaders from the Indian fintech ecosystem. For more information about the conference, visit: Global Fintech Fest 2024.
For further information, please reach out to:
Vipin Chanddra, APCO: +91-9582 731432
Kuldeep Singh, APCO: +91- 97113 06379
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Fintech PR
Sc3 Asset Management and National Capital Company to Launch U.S. Defense Industrial Base Private Equity Platform
RIYADH, Saudi Arabia, May 26, 2025 /PRNewswire/ — Sc3 Asset Management announces that it is entering into a Memorandum of Understanding (MOU) to co-manage and launch a U.S. defense industrial base private equity platform in partnership with National Capital, a Capital Market Authority (CMA) regulated and licensed Saudi based Capital Market Institution.
This initiative is designed to pursue the rapid development and commercialization of key defense technologies – both within the United States and with allied nations – in support of the global mission.
This announcement comes alongside the historic U.S.–Saudi trade mission and reflects a shared commitment to strengthening transnational security cooperation, advancing sovereign innovation, and mobilizing trusted capital toward mission–critical infrastructure.
About National Capital KSA
National Capital Company (NCC) is a licensed Saudi–based Capital Market Institution regulated by the Capital Market Authority (CMA) of Saudi Arabia. NCC offers a full range of investment banking services, alternative investments asset management, advisory & arranging, and private equity & VC; with a strong focus on aligning capital with strategic sectors under Saudi Vision 2030. The firm provides robust financial governance, Shariah–compliant offerings, and is a trusted partner for domestic and international investment initiatives across the Kingdom of Saudi Arabia.
Learn more: www.nationalcapital.com.sa
About Sc3 Asset Management
Sc3 Asset Management is a U.S.-based alternative asset management firm focused on private equity, real estate, venture capital and private credit. The organization’s primary focus is on national security, aerospace, and emerging technologies. With decades of experience in defense sector investment and intelligence community operations as well as extensive experience as global asset manager, Sc3 specializes in aligning capital with mission-driven innovation. The firm supports technology commercialization, defense industrial base resilience, and sovereign infrastructure initiatives critical to U.S. and allied interests.
Learn more: www.sc3assetmanagement.com
About GIS QSP Skunkworks Inc.
GIS QSP Skunkworks KSA is a Saudi-based joint venture formed through an exclusive agreement between Science Technology for Development and Industrial Investment (Science Tech) and GIS QSP Skunkworks Inc., a U.S. Cyber Defense technology Company that provides solutions to Critical Infrastructure including quantum-resilient, mission-grade cybersecurity solutions to help secure IT, OT, and IOT networks and is headquartered in Mobile, Alabama.
GIS QSP Skunkworks KSA serves as a strategic platform for sovereign cyber capability development, secure hardware manufacturing, and public-private technology transfer aligned with Saudi Arabia’s Vision 2030.
The JV is positioned to support critical national security, defense-industrial, and commercial infrastructure modernization initiatives across the Kingdom and the broader GCC region.
https://www.gisqspskunkworks.com/
For media inquiries:
Kimberly Gretta
[email protected]
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Fintech PR
Acne Medicine Market to Reach USD 4.27 Billion by 2029 | Key Trends in OTC & Prescription Segments Revealed | Valuates Reports
BANGALORE, India , May 23, 2025 /PRNewswire/ — Acne Medicine Market is Segmented by Type (OTC, Prescription Medicine), by Application (Topical, Oral).
The Global Acne Medicine revenue was USD 3616.6 Million in 2022 and is forecast to a readjusted size of USD 4273.4 Million by 2029 with a CAGR of 3.4% during the review period (2023-2029).
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Major Factors Driving the Growth of Acne Medicine Market:
The acne medicine market is experiencing significant growth propelled by rising acne prevalence, evolving skincare routines, and the growing demand for effective, accessible treatments. With options ranging from over-the-counter products to prescription solutions, the market caters to a broad consumer base. Continuous innovation, influencer marketing, and the expansion of telehealth services are reshaping how consumers approach acne management. Moreover, increasing interest in natural formulations and dermatologically tested products is redefining consumer preferences. As dermatology services become more accessible and digital platforms democratize skincare advice, the acne medicine market is expected to witness sustained growth, particularly across urban, youth-centric, and emerging economies.
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TRENDS INFLUENCING THE GROWTH OF THE ACNE MEDICINE MARKET:
Prescription medicines play a crucial role in driving the growth of the acne medicine market due to their high efficacy in treating moderate to severe acne. Dermatologists often prescribe topical retinoids, oral antibiotics, or isotretinoin for patients who do not respond to over-the-counter treatments. The increasing awareness among patients regarding the benefits of dermatologist-prescribed treatments has contributed to growing demand. Moreover, insurance coverage in several developed markets encourages patients to opt for prescription medications. The expanding teenage and young adult population suffering from persistent acne has also led to a surge in dermatological consultations, boosting prescription volumes. In addition, innovations in formulation and fewer side effects in newer drugs are enhancing consumer confidence, further accelerating market growth.
Over-the-counter (OTC) acne medications significantly contribute to the expansion of the acne medicine market by providing accessible and affordable solutions. Consumers prefer OTC products due to the convenience of purchase without a prescription and the availability of a wide range of options including gels, creams, face washes, and patches. Ingredients such as benzoyl peroxide, salicylic acid, and alpha hydroxy acids are commonly found in OTC products, offering effective treatment for mild to moderate acne. The rise of e-commerce platforms has made OTC acne solutions easily available to consumers globally, boosting sales. Additionally, aggressive marketing strategies and endorsements from influencers and dermatologists have elevated product visibility, encouraging higher consumer adoption and fueling market growth.
Oral acne medications are propelling market growth due to their effectiveness in treating severe and persistent acne conditions. These include oral antibiotics, hormonal treatments, and isotretinoin, which target internal root causes such as bacterial infections, hormonal imbalances, and sebum production. With increasing diagnosis and awareness of acne’s systemic causes, dermatologists are more likely to prescribe oral treatments. Additionally, the demand for fast and long-term results is driving preference for oral therapies. The pharmaceutical industry’s efforts to improve drug tolerability and reduce side effects have made oral acne medications more acceptable among patients. Furthermore, the rise in adult acne, particularly among women, has increased the prescription of oral hormonal therapies, expanding the overall market.
The growing prevalence of acne, especially among teenagers and young adults, is a key factor driving the acne medicine market. Hormonal changes, stress, dietary patterns, and environmental pollution contribute to acne outbreaks. As awareness of skin health increases, more individuals are actively seeking treatment options. This rising demand fuels product innovation and launches, encouraging manufacturers to develop both preventive and treatment-based medicines. Adult acne, particularly among working women, is also becoming a notable concern, pushing demand for specialized medications and dermatologist consultations. This demographic shift ensures a sustained need for effective acne therapies, thereby accelerating the overall market growth across both prescription and OTC segments.
Improved access to dermatology services and clinics is significantly influencing the acne medicine market. In both developed and developing economies, the number of dermatologists and specialized skincare centers is increasing. Government initiatives, insurance coverage, and urbanization are enhancing access to treatment. Additionally, teledermatology and online consultations have emerged as viable options for people in remote locations, further expanding the reach of acne treatments. The availability of professional guidance leads to increased prescriptions, higher treatment adherence, and more usage of both oral and topical medications. As healthcare infrastructure strengthens, especially in emerging markets, the demand for acne medicines continues to rise.
The rising emphasis on personal grooming and aesthetic appearance, particularly among younger populations, is boosting demand for acne solutions. Social media and digital influence are driving awareness about clear skin as a beauty standard, leading to increased spending on skincare products. Educational campaigns by brands, along with dermatologist-backed content, have contributed to de-stigmatizing acne while promoting proactive treatment. Consumers are becoming more knowledgeable about product ingredients and their effects, leading to demand for scientifically backed and dermatologically tested medicines. As people seek long-term solutions rather than quick fixes, the market is witnessing a surge in sustained usage of acne therapies.
There is a noticeable shift in consumer preferences toward natural and clean-label acne medications. Increasing awareness about the long-term impact of chemical-based products and concerns over skin sensitivity have pushed demand for safer, plant-based alternatives. Herbal formulations using tea tree oil, aloe vera, witch hazel, and green tea are becoming popular among eco-conscious consumers. Companies are responding by launching certified, cruelty-free, and non-toxic product lines, aligning with the values of sustainability and wellness. This trend is opening new growth avenues, especially in the premium segment, contributing to the diversification of the acne medicine market landscape.
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ACNE MEDICINE MARKET SHARE:
Global core acne medicine manufacturers include Galderma, Bausch Health, Teva etc.The top 3 companies hold a share of about 50%.
North America is the largest market, with a share of about 50%, followed by Europe and Asia Pacific with the share of about 25% and 15%.North America leads due to high awareness, dermatologist availability, and product innovation. Asia-Pacific shows rapid growth driven by a large youth population, increasing urbanization, and rising income levels. Europe benefits from robust healthcare systems and increasing cosmetic concerns.
In terms of product, prescription medicine is the largest segment, with a share over 77%.
And in terms of application, the largest application is topical, followed by oral.
Key Companies:
- Galderma
- Galderma S A
- Bausch Health
- TEVA
- GlaxoSmithKline PLC
- Mylan NV
- Almirall
- Sun Pharma
- Mayne Pharma
- Lion
- HUAPONT
- Sine Pharma
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
– Acne Products Market
– Baby Acne Medicine Market
– The global Oral Acne Medicine market was valued at USD 929.9 Million in 2023 and is anticipated to reach USD 1144.1 Million by 2030, witnessing a CAGR of 3.0% during the forecast period 2024-2030.
– Consumer Acne Medicine Market
– The global market for Topical Acne Medication was estimated to be worth USD 2685.7 Million in 2023 and is forecast to a readjusted size of USD 4015.4 Million by 2030 with a CAGR of 6.0% during the forecast period 2024-2030
– The global market for Acne Drugs was estimated to be worth USD 3616.6 Million in 2023 and is forecast to a readjusted size of USD 4592.8 Million by 2030 with a CAGR of 3.4% during the forecast period 2024-2030.
– LED Light Therapy Face Masks Market
– Anti-acne Dermal Patch Market
– Dissolvable Microneedle Patches market was valued at USD 485 Million in 2023 and is anticipated to reach USD 747 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.
– The global market for Cosmetics Microneedle Patches was valued at USD 472 Million in the year 2024 and is projected to reach a revised size of USD 748 Million by 2031, growing at a CAGR of 6.9% during the forecast period.
– Moderate To Severe Acne Therapeutics Market
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SAN FRANCISCO, May 23, 2025 /PRNewswire/ — Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has expanded its global footprint with the launch of its Institute of Foundation Models (IFM). The IFM is a multi-site initiative consisting of a newly established Silicon Valley Lab in Sunnyvale, CA, combined with previously announced lab facilities in Paris and Abu Dhabi.
The launch event yesterday at the Computer History Museum in Mountain View, establishes the third node in its global research network. This strategic expansion connects the university with California’s vibrant ecosystem of AI researchers, startups, and tech companies.
For the UAE and MBZUAI, this move represents another strategic step in the country’s long-term economic diversification plan. By investing in cutting-edge technologies like advanced AI foundation models, the UAE continues to build knowledge-based sectors to support its long-term economic and social transformation efforts.
“Today’s launch of the IFM represents a major step forward for the collaboration and global development of frontier-class AI foundation models,” said Professor Eric Xing, President and University Professor, MBZUAI. “Our expansion into Silicon Valley provides a critical footprint to grow our presence in one of the most vibrant AI ecosystems in the world. We’re creating pathways for knowledge exchange with leading institutions and accessing a talent pool that understands how to scale research into real-world applications.”
The launch event drew representatives from the world’s leading AI companies and academic institutions, highlighting the growing interest in MBZUAI’s global approach to foundation model research.
At the heart of MBZUAI’s demonstrations was PAN, a world model capable of infinite simulations of diverse realities ranging from basic physical interactions to complex agent scenarios.
Unlike previous systems focused primarily on generating text, audio, or images, PAN predicts comprehensive world states by integrating multimodal inputs like language, video, spatial data, and physical actions. This enables advanced reasoning, strategic planning, and nuanced decision-making for applications from autonomous driving to robotics.
PAN’s innovative hierarchical architecture supports multi-level reasoning and real-time interaction within simulations, maintaining high accuracy over extended scenarios. Its companion, PAN-Agent, showcases its utility in multimodal reasoning tasks, such as mathematics and coding, within dynamic simulated environments.
K2 and JAIS: Advanced Foundation Models with Global Impact
The IFM lab is also advancing two flagship AI systems demonstrating the commitment to further advance frontier-class foundation models: K2 and JAIS.
A soon to be released update to K2-65B will focus on delivering breakthrough reasoning capabilities with sustainable performance.
JAIS stands as the world’s most advanced Arabic large language model. At the IFM JAIS will continue to expand in capability with increased language support and add more context to preserve and promote the cultures it supports.
Building AI in the Open: Transparency as a Core Value
MBZUAI has established one of the industry’s most transparent approaches to AI development, open-sourcing not just models but entire development processes—positioning IFM as a leader in building openly. The LLM360 initiative provides researchers with complete materials including training code, datasets, and model checkpoints. This openness is balanced with safeguards including international advisory boards and peer review processes that maintain research integrity.
The IFM’s structure includes dedicated teams focused on model architecture, training methods, evaluation frameworks, and safety systems—combining the agility of a startup with the resources of an established research institution.
About Mohamed bin Zayed University of Artificial Intelligence (MBZUAI)
MBZUAI is a research-focused university in Abu Dhabi, and the first university dedicated entirely to the advancement of science through AI. For more information, visit www.mbzuai.ac.ae.
For press inquiries:
Aya Sakoury
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