The MENA region is increasingly adopting open banking and just this year, Saudi Arabia’s central bank released the framework for the implementation of open banking in the country. This transformation is creating, a boost for FinTech providers and challenger banks who are receiving considerable amount of funds to build capacity and infrastructure across the region to capitalise on the opportunities the new era of APIsation will provide them and deliver advanced services to their individual and business customers.

This development has put pressure and urgency on traditional banks to rethink their business models to remain relevant and competitive in the region’s new and disruptive FinServ environment as they risk losing control over their customer data and payment services. To avoid this, they have to find ways to improve their own offerings and partner with financial technology and third-party institutions to create more value for their customers.

Building on the success of the launch edition, organised with the region’s leading banks, the 2nd Open Banking MENA DigiConference will take the conversation to the next level and explore how banks and financial institutions in the region can rethink their business model and build the necessary infrastructure needed to enable enhanced collaboration with an increasingly agile and rapidly advancing fintech sector.