- The 2nd edition of Dubai FinTech Summit attracted over 8,000 visitors from 118 countries around the world.
- The 3rd edition of the Dubai FinTech Summit to be held on 7-8 May 2025, under the directives of His Highness Sheikh Maktoum.
- Over 50 Memorandum of Understandings (MoUs) were signed during the Summit with global financial leaders.
- More than 20 top investment management firms with investments in 12,000 companies participated in the Summit.
- Nik Storonsky, Founder and CEO of Revolut inked expansion plans in the MEASA region, marking a significant step towards fostering financial inclusion through cutting-edge technology.
- State Street Global Advisors’ President and Chief Executive Officer, Yie-Hsin Hung confirmed the reopening of its Dubai offices.
- Dyna.Ai, the Singapore headquartered firm launched operations across Asia, the Middle East, Africa, Europe, North America and Latin America, with offices planned in the UAE, Saudi Arabia, and Nigeria.
Dubai, 14th May 2024: The 2nd edition of Dubai FinTech Summit (DFS) was organized by Dubai International Financial Centre (DIFC). His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, patronized the event. The event concluded with resounding success. The 3rd edition of the Dubai FinTech Summit is scheduled for 7-8 May 2025. The event is also under the directives of His Highness Sheikh Maktoum.
Unprecedented Gathering at Dubai FinTech Summit: A Platform for Transformative Discussions and Collective Action
From government officials and policy makers to start-up founders, the two-day Summit, held at Madinat Jumeirah, brought together an unprecedented gathering of more than 8,000 decision-makers from 118 countries around the world. These included over 300 thought leaders participating in 125 discussions across five stages and over 200 exhibitors showcasing cutting-edge technologies. Over 20 government dignitaries were also in attendance, including the Mayor of Seoul, Central Bank Governors, and Deputy Governors.
His Excellency, Essa Kazim, Governor of DIFC, commented: “The Dubai FinTech Summit is not just a gathering, it is a platform for transformative discussions and collective action. The Dubai FinTech Summit stands as a beacon of impact, progress, and collaboration, creating unprecedented opportunities for growth and innovation. Dubai is at the forefront of shaping the future of finance and will continue to strengthen its position as a leading global hub for FinTech firms.”
Arif Amiri Explores the Impact of FinTech on Financial Services and Markets
Arif Amiri, Chief Executive Officer at DIFC Authority, opened day two of the Summit, followed by two fireside chats with His Excellency Helal Saeed Al Marri, Director General, Department of Economy and Tourism, and Yie-Hsin Hung, President and Chief Executive Officer at State Street Global Advisors.
During his opening remarks, Arif Amiri, Chief Executive Officer at DIFC Authority, said: “Today, we are experiencing an extraordinary period of technological transformation where FinTech defines how we transact, how we save, and how we manage our financial lives. FinTech is also defining how traditional financial services companies operate. In recent years, we have seen FinTech revenues grow globally six-fold. We have also seen growing mainstream acceptance of cryptocurrencies, which is allowing for its market capitalisation to exceed USD 3trn. This year, FinTech is again expected to garner and secure an additional 5 per cent of global financial service revenues. In the next two years, digital payments are expected to increase over 10trn dollars, and by 2030, north of 25 per cent of banking valuations are expected to be driven by FinTech.
The DIFC CEO remarked about the unique opportunities that Dubai FinTech Summit has to he offer. he said, “Dubai FinTech Summit offers a unique platform to explore the opportunities ahead of us, which is why, at DIFC, our strategy is firmly focused on being at the heart of this FinTech revolution. During our 20 years of operations, we have always embraced innovation. It is part of our X factor. We do not simply talk about it but engage with it; with the talent, with the investors and the regulators to execute it.”
He furthermore added, “Our visionary leadership has always enabled Dubai and DIFC to take a leading role in driving the future of finance and innovation. For this reason, we have built the region’s most comprehensive proposition that enables our clients to do and achieve great things in a place that integrates FinTech firmly into its DNA. In a place that attracts talented entrepreneurs, encourages collaboration, and provides global connectivity: a gateway between the east and the west, and a true nexus point for the global markets.”
DIFC’s Visionary Approach to FinTech Revolution and Global Collaboration
Over 50 international associations participated in the 2nd Dubai FinTech Summit this year. These included Africa FinTech Network, Business France, FinTech Philippines Association, and others. Recognizing the potential of operating in the region’s largest financial ecosystem, State Street Global Advisors’ CEO, Yie-Hsin Hung, announced the firm’s return to DIFC. This decision was based on the region’s expanding opportunities. Coupled with DIFC’s 20-year track record as a leading hub for finance and growth, the organization sees significant potential. DIFC has continued to draw in an extensive list of banks, advisors, high-net-worth individuals, family offices, and sovereign wealth funds. They are seeking exposure to the region’s fast-growth markets within a future-forward regulated environment.
This year’s Summit saw the participation of over 1,000 investors, including more than 10 top executives from some of the world’s biggest banks, managing over USD 7trn in assets under management (AUM). In addition, over 40 FinTech and blockchain unicorns, with a combined market capitalisation of over USD 400bn were also present.
Global Leaders Convene at Dubai FinTech Summit for Unprecedented Investment and Collaboration
Local, regional, and international partners of the Summit hosted over 30 side events during the two days. Panels on the second day included a deep dive into some of the most pressing topics within the financial technology landscape, ranging from High Interest Rates and Macroeconomic Volatility, Institutional Adoption and Regulatory Clarity – Crypto’s Path Forward, and D33 – A Decade of Economic Transformation, among others.
Dubai FinTech Summit also witnessed the signing of more than 50 Memorandum of Understandings (MoUs). Global financial leaders signed them, along with several key announcements from attending businesses.
Revolut and State Street Global Advisors Unveil Expansion Plans in MEASA Region
Nik Storonsky, Founder and CEO of Revolut announced expansion plans in the MEASA region. This marked a significant step towards fostering financial inclusion through cutting-edge technology. Revolut is a global neobank and financial technology company with headquarters in the UK. It offers banking services for retail customers and businesses.
Recognizing the potential of operating in the region’s largest financial ecosystem, State Street Global Advisors’ CEO, Yie-Hsin Hung, announced the firm’s return to DIFC. This decision was based on the region’s expanding opportunities. Coupled with DIFC’s 20-year track record as a leading hub for finance and growth, the organization sees significant potential. DIFC has continued to draw in an extensive list of banks, advisors, high-net-worth individuals, family offices, and sovereign wealth funds. They are seeking exposure to the region’s fast-growth markets within a future-forward regulated environment.
Dyna.Ai Launches Operations Across Multiple Continents, Unveils Innovative AI Solutions
Dyna.Ai, the Singapore-headquartered firm announced the launch of its operations across the globe. This includes continents Asia, the Middle East, Africa, Europe, North America and Latin America, aiming to transform businesses with AI. The company offers a suite of solutions for digital banking, risk management, audience communication, and employee productivity to address current financial challenges. In the MEA region, offices will be opened in the UAE, Saudi Arabia, and Nigeria. Dyna Athena, a newly launched AI platform, will provide revolutionary communication and interaction between customers. This will include features such as text-to-speech, language and speech processing. At the Summit, they also launched Dyna Avatar, a brand-new humanoid customer assistant capable of engaging in real-time voice-activated conversations. It can converse in various languages namely, Arabic, English, Chinese, Japanese, and Thai.
Among several notable presentations, Crypto Oasis provided an insightful update on the UAE’s dynamic and ever-evolving blockchain ecosystem. According to the presentation, active companies have surged by 13 per cent year-on-year, reaching 2,040 organisations. Each having a healthy mix of 71 per cent native and 29 per cent non-native blockchain companies contributing to the ecosystem. There has also been a marked increase in the industry workforce, with over 10,600 individuals working in the blockchain space. One of the key factors driving the crypto industry has been an increase in regulatory clarity. This has helped to attract global brands such as Bybit, Crypto.com, and OKX. Each brand received Virtual Asset Service Provider (VASP) licenses from VARA.
DFS Drives Collaboration and Innovation Towards Dubai’s Financial Hub Ambitions
Aligned with the Dubai Economic Agenda (D33) aiming to position Dubai among the top four global financial hubs by 2033, DFS fosters cross-border collaboration and innovation. This is central to transforming the global FinTech sector. The Summit presented a unique opportunity for attendees to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.
The 2nd edition of the Dubai FinTech Summit was supported by over 150 global corporate partners. Visa as Founding Partner & Co-Host; Emirates NBD as Premium Banking Partner; e& life as Powered By sponsor; Commercial Bank of Dubai (CBD) as Strategic Banking Partner; Finvasia as Lead Sponsor; SC Ventures as Strategic Venture Partner; Dynatech AI as Powered By sponsor; and Mashreq as Diamond Sponsor; Ripple, Deloitte, Nasdaq, Mastercard, Pay10, Bitpanda, and Alpheya as Platinum Sponsors; AWS & Integra, and Dubai Financial Market among others.
