Fintactics seals a number of major deals at the World Fintech Show
As World Fintech Show ends for one more year, Fine tactics has come away with a number of exciting new partnerships and ventures.
Fintactics has leveraged its presence at the World Fintech Show to secure a diverse range of fintech partnerships with Bitfy Holdings and Aion Digital.
In addition to the partnerships, Fintactics confirms speculation surrounding the formation of its latest ventures, Holoul and Leza’am.
World Fintech Show
Held at InterContinental in Riyadh, Saudi Arabia, the World Fintech Show supports the development of the country’s fintech industry.
The global fintech series is managed by business events and the consulting firm Tresconand ran from 5 to 6 December 2022.
Providing a platform to support collaboration and dialogue between global fintechs and financial services providers, here are the latest highlights from this year’s event:
Fintactics Studio and VC Fund
The event hosted the launch of Fintactics Studio. The venture acts as a dedicated fintech venture builder and is allocated to the Middle East and North Africa (MENA) region.
A venture capital (VC) fund of SAR 150 million supports Fintactics Studio. The fund itself is authorized by The Competition and Markets Authority (CMA).
The venture concentrates support for internal businesses and invests in high-growth fintech ventures across the Kingdom, MENA and the rest of the world.
The venture came from the Saudi-based venture builder Revival Lab and launched under Arbah Capital.
Aion Digital partnership
Fintactics sealed a deal with Aion Digital through its presence at the World Fintech Show. The new partner is a digital banking platform that revitalizes banking through customer-centric digital transformations that can be adapted to financial institutions.
The signing included Haitham Al SahafyCEO of Fintactics, and Ashar Nazimfounder and CEO of Aion Digital.
The platform works with Fintactics as part of the developer’s mission to shape the financial landscape of the future. Both companies will develop and expand digital products in the Gulf Corporation Council (GCC) and MENA. This includes the partnership’s debut venture Leza’am.
Leza’am JV Agreement
Businesses today require a complete digital onboarding experience to guide customers through their onboarding process, as demands for business resilience and consumer expectations have grown.
Fintactics and Aion Digital’s partnership hits the ground running with the launch of Leza’am; the partnership’s patch-as-a-service (RaaS) offering. Leza’am supports all the functions of a digital onboarding service in the modern era.
The e-know-your-consumer (eKYC) service facilitates travel orchestration, compliance, anti-money laundering (AML) screening and digital investigation. This includes additional fraud and risk management services; available to retail and corporate customers for GCC and non-GCC nationals.
Bitfy Holdings Agreement
Fintactics has made a significant investment in Bitfy Holdings to accelerate the adoption of distributed ledger technologies (DLT) in financial and non-financial verticals in the Kingdom. The partnership announcement at the World Fintech Show follows this investment.
Bitfy Holdings is a Brazilian-based company working on blockchain-as-a-service to offer tokenization of illiquid assets.
Cooperate with CMA and Saudi Central Bank (SAMA), Fintactics locates blockchain tokenization and securitization technologies for physical and illiquid assets.
Holoul launch
Fintactics used its presence at the World Fintech Show to confirm the launch of its latest venture, Holoul.
Holoul is a digital mortgage platform that simplifies and improves home ownership. Especially in Saudi Arabia, the mortgage market continues to develop at speed, which shows the suitability of the platform.
There is little doubt that market dynamics and political encouragement from various bodies were the driving forces behind this. In addition, there is a marketplace where customers can find a range of luxury home products to suit their needs.
