2024年中东与非洲金融科技报告

FINTECH: THE MIDDLE EAST & AFRICA REPORT 2024AuthorRichie Santosdiaz, economic development advisor– emerging economies,The Fintech TimesEditorial directorMark Walker Editor in chiefClaire Woffenden Art directorChris SwalesSpecial thanks also to our supporters and partners for helping make this report possible.Published byLondon|Dubai|New York©The Fintech Times2024. Reproduction of the contents in any manner is not permitted withoutthe publisher’s prior content. ‘The Fintech Times’ and ‘Fintech Times’ are registered UK trademarks ofDisrupts Media Limited. Disclaimer: This report was prepared byThe Fintech Timesand the main author tomainly educate the public on the growing trends of the fintech ecosystem in the Middle East and Africaregion in the context of its relationship to economic development. Research findings of this report can beshared provided the report and their sources are acknowledged. Written: April 2024. Published: May 2024.WELCOME TO THE 2024 MIDDLEEAST & AFRICA FINTECH REPORTIt's truly remarkable to reflect on thejourney since 2020 whenThe FintechTimes, under my leadership, expandedits coverage to the Middle East andAfrica (MEA) region. Back then, MarkWalker and I conceived the idea ofcreating the first-ever Middle East andAfrica fintech report for 2021. Now, in itsfourth edition, it’s no longer a novelty.The first three editions of the MEAreports aimed to make an impact byproviding valuable insights to boththe fintech community and those lessfamiliar with the MEA region. Whilesummarising such a vast region anddynamic sector like fintech is always achallenge, we’re pleased with the feedbacksuggesting that the previous editionssucceeded in doing so.This latest fourth edition builds uponthe foundation laid by the previous MEAreports, delving deeper into the evolvingfintech landscape of the region and itsbroader economic opportunities andchallenges. Personally, I’m proud of thenew content, including graphics andtimelines, which will aid in understandingthe developments in MEA.I extend my thanks to my family andfriends for their unwavering support.I’m also grateful toThe Fintech Timesteam, especially Claire, Chris andMark, whose dedication made thisedition possible. Special appreciationgoes to our supporters and partnersfor their invaluable contributions.I sincerely hope you find value in thelatest Middle East and Africa report! |3 4 |FINTECH: THE MIDDLE EAST & AFRICA REPORT 2024Seamless EvolutionSeamless EvolutionUnveiling tech advancements in MEAGiven the rapid advancement of technologyacross all facets of digital commerce,covering all things Seamless throughoutthe Middle East and Africa can be quitean eye-opener. With new innovations,greater products and a steady stream ofpartnerships and collaborations there isalways something to report on, plenty tolearn, and even experience first-handwhile covering this beat.To best describe the concept of beingSeamless I am reminded by a quote fromHans Hofmann, a German-born Americanpainter, renowned for his work as anartist in abstract expressionism around themid1900s. Hofmann once said: “The ability tosimplify means to eliminate the unnecessaryso that the necessary may speak.”While this could be seen as a nod to hiscraft of abstract painting it is equallysomething that can be applied today whenwe think about how technology is makingonce complicated processes quicker, moreefficient and easier to execute than everbefore. Increasingly, this is becomingevident, not only in banking and financialin improving financial services for itscustomers. In turn, ensuring it is seamlesslylinked to the banking system provides its ownset of challenges but, if executed, can be a keyingredient for future success.The rise of real-timepayment systemsOne of the most exciting trends in MiddleEastern fintech right now is the rise ofdigital payments and mobile banking. Theimplementation of real-time payment systems,such as the Saudi SARIE Instant Payment hasdramatically improved the speed and efficiencyof financial transactions in the region.Elsewhere, Qatar Central Bank launched anew instant payment system, earlier this year,that gets rid of the need for an IBAN duringtransactions. Governments are also starting torealise the benefits of fintech collaboration.This is evident in Bahrain, for example,where government entities have recentlystarted using digital wallet apps quiteeffectively to pay instantly for things likeelectricity, water and other utility bills. Delvingfurther into digital wallets, instant wallettop-ups continue to be made more accessiblethrough collaborations in the region.One such example was the recentpartnership between Mastercard andCheckout.com who teamed up to enableinstant wallet top-ups for Dubai-basedsuper app Careem. The integration with thefinancial technology arm of Careem is seeking toMarkDowdallEditor ofSeamlessXtraservices but also in other key areas ofidentity, retail, e-commerce, home deliveryand even digital marketing. Carrying outessential ev