Beginning A Fintech Ecosystem From Scratch In Saudi Arabia
There's a common misconception that ideas, businesses, and whole sectors somehow appear out of nowhere, propelled by some invisible force. Cities like London, New York, and Tel Aviv have emerged as global epicenters in the development of cutting-edge financial technology during the last decade. Governments have helped fuel this expansion by providing friendlier Fintech regulations Saudi Arabia climate, easing networking barriers, and implementing other actions designed to foster the development of FinTech centers in their respective countries. Even with this kind of backing, it is very difficult to establish a functioning FinTech ecosystem with a small number of FinTechs and no obvious channels for regulating the industry or gaining access to the best and brightest individuals in the field. Saudi Arabia has set lofty targets for addressing this issue as part of its Vision 2030 project. I spent most of 2018 in Saudi Arabia, where I work as part of an executive innovation group spec...