The 14th Middle East Financial Technology Event and Meeting (MEFTEC Payments), hosted by Saudi Arabia for the very first time, has been officially opened by H.E. Mr. Abdulaziz Saleh AL-Furaih, Vice Governor of the Saudi Arabian Monetary Authority (SAMA) at the Intercontinental Hotel, Riyadh to review the future of the digital repayment sector in the Kingdom.

The two-day conference and exhibition initiated by mada the nationwide payment network and SADAD the national payments system, under the direction of SAMA, is the first devoted occasion for Fintech companies and financial institutions to resolve industry-changing technological innovations, global Fintech improvements and customer demands to change the digital repayment landscape in line with the Kingdom's vision 2030 to sustain entrepreneurship and boosting the economic solutions innovation.

H.E. Mr. Abdulaziz Saleh AL-Furaih, Vice Governor of SAMA in his opening up speech said: "Today, MEFTECH Payments brings together government Departments, Banks, Financial Institutions, Fintech companies, Entrepreneurs, and big and small business for the very first time in Saudi Arabia at an important time where we are observing rapid development in digital settlement and Fintech Industry. The following two-days will drive conversations on the future of digital payments, to influence new ideas, collaborate on industry-changing technological innovations that will certainly transform the digital settlement landscape below in Saudi Arabia."

" We are presently seeing a revolution in the settlements industry right here in Saudi Arabia, modern technology is advancing, consumers' assumptions are raising, sellers' requirements are obtaining more and more comprehensive and the new millennial generation is driving the digital transformation campaign in addition to banks towards having a seamless experience while converting at every touch blog post of the settlement networks. The demand for continual advancement of banking and financial solutions to keep pace with this growth of growth can not be under approximated. The value of collaboration at MEFTECH Settlements will certainly support forming our future, add to 'FintechSaudi' objective to transform the Kingdom right into an innovation hub released early this month, and will certainly support the economic and economic purpose of our country's vision."

Ziad Al-Yousef, Director General of Settlement Solutions, SAMA in his opening up keynote address on Fintech Saudi changing the financial sector said: "The development of the global Fintech industry is exponential and we are seeing substantial progression in the area of Fintech based upon the growth in using big information, consumer need for inclusive and palatable financial solutions, in addition to the introduction of new technical fads such as: expert system and blockchain, which will certainly cause a crucial change in the provision of financial services here."

MEFTECH Director, Oliver Bickell added: "MEFTECH is the longest running Banking & Financial Modern technology occasion in the MENA Region and we thank mada and SADAD for launching the very first Saudi Arabia version. Adhering to significant rate of interest both regionally and globally for this occasion we delight in to introduce that MEFTECH Settlements will certainly return next year being held at Riyadh International Convention & Exhibit Centre and will showcase over 120 local, regional and worldwide exhibitors alongside an expanded conference program and specialized Fintech Pavillion showcasing start-up innovations and market disrupters from across the world."

For more information on MEFTECH Payments go to www.meftechpayments.com