ABU DHABI, 24th November 2020 (WAM) – The MENA region’s largest event focused on innovation in financial services, the FinTech Abu Dhabi Festival (FinTech AD), kicked off today and will run until November 26. Held under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Vice President of the Abu Dhabi Executive Council, and co-hosted by the Central Bank of the UAE (CBUAE) and Abu Dhabi Global Market (ADGM), FinTech AD 2020 promises to be the most exciting edition yet, featuring major names from the global financial community and an extensive agenda of initiatives and activities.

Taking place in a fully virtual format, FinTech AD will host a stellar line up of speakers in the region and globally to discuss the latest developments and hottest issues in the FinTech sector.

This year’s edition of FinTech AD is held in partnership with Masdar, the Abu Dhabi Chamber of Commerce and Industry, the Abu Dhabi Digital Authority, and the Authority of Social Contribution – Ma’an, as official government partners.

On the Festival, Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM, said: 'We are very pleased that the Central Bank of the UAE is co-hosting the 2020 FinTech Abu Dhabi and reinforcing the UAE’s commitment in advocating innovation and digitalisation in the banking and financial sectors. As key stakeholders of the nation’s financial system, both ADGM and CBUAE recognise the importance of integrating modern advancements across our economic facets and fortifying the country’s stature as a world-class banking and investment hub.

This year, we have more than 130 global speakers including the central bankers, policy-makers, financial regulators, investors, unicorns, FinTech leaders, and another 100 leading FinTech firms from 28 countries presenting their innovations. FinTech Abu Dhabi is among ADGM’s many transformational and successful initiatives. It will continue to support Abu Dhabi and the wider UAE as leading destinations for financial incumbents and innovative entrepreneurs to thrive, contribute and succeed.'

Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE, said: 'The Central Bank of the UAE is looking forward to participating in hosting the fourth edition of the FinTech AD Festival in cooperation with ADGM. The FinTech Abu Dhabi Festival provides a glimpse into the future of the financial services industry by showcasing the innovative and creative developments of the industry in the past year. These developments have underlined the power technology harnesses in improving the way we conduct business. We are also beginning to witness the emergence of unicorn start-ups in the UAE, further reinforcing the UAE’s position as a leading FinTech destination. Fintech Abu Dhabi will also act as an inspiration to aspiring entrepreneurs in the financial sector to be part of the industry that will define the future.'

Abdulhamid M. Saeed Alahmadi added: 'Our goal is to continuously develop a mature ecosystem that encourages entrepreneurship and creativity in the FinTech space, by leveraging pragmatic lessons and best practices provided by our peers from around the globe. This is part of our broader vision to establish the UAE as an international hub for financial sector innovation and growth.'

The FinTech AD agenda, powered by Unbound, comprises a variety of initiatives and activities that aim to facilitate fruitful engagement between FinTech innovators, regulators and leading financial institutions. Key highlights include: The Government FinTech Forum, dedicated to bringing together regional and global policy makers, think tanks and financial regulators to promote cross border collaboration, and to discuss the seminal issues effecting today’s financial sector.

The Innovation Challenge, wherein FinTech firms and Corporate Champions will showcase the solutions that they have co-developed to address challenges in the financial sector.

The Youth Circle, a platform that brings youths together in an interactive dialogue with government and industry role models to shape the technology and innovation ecosystem of the future.

The FinTech100 Search, curating the most exciting FinTech companies globally to showcase their innovations at FinTech AD and be provided the opportunity to meet potential investors.

The FinTech Awards, showcasing the very best in global FinTech innovation in the UAE and the region, to elevate grassroots talent and celebrate the boldest ideas and initiatives driving the industry.

The FinTech Expo, hosted by Plug and Play ADGM to showcase the local and international startups from its accelerator programme in 2020.