Fintactics announces its new ventures Holoul and Leza’am; Signing MOU with Aion Digital and Bitfy Holdings at Trescon World Fintech Show
Riyadh, Saudi Arabia, December 6, 2022, ZEXPRWIRE, The World Fintech Show, a global fintech series managed by Trescon, offered Saudi Arabia’s fintech industry a platform for significant progress. The event witnessed the launch of Fintactics Studio and its commitment to shaping the future of fintech in the Kingdom of Saudi Arabia. The World Fintech Show, held at the InterContinental in Riyadh, helped establish strategic alliances aimed at transforming the financial industry for the foreseeable future.
The World Fintech Show hosted the announcement and launch of a number of partnerships. Here are some exclusive highlights from the event.
Launch of Fintactics Studio and VC Fund:
Fintactics Studio, the first dedicated Fintech venture builder in the region backed by a 150Mn SAR CMA-authorized VC fund, will concentrate on supporting internal businesses and investing in pioneering high-growth fintech ventures across the Kingdom, MENA and the rest of the world .
Fintactics Venture Builder has emerged from Revival Lab and is launching under Arbah Capital.
Trescon hosted senior managers from the organisations:
- Saad AlMoammar, Chairman, Revival Lab
- Mohammed Al Maghlouth, Co-Founder and CEO, Revival Lab
- Haitham Al Sahafy, CEO, Fintactics
- Hisham Al Rashed, Board Member, Arbah Capital
- Mahmoud Koohaji, CEO, Arbah Capital
Partnership agreement for Fintactics & Aion Digital
Success is dependent on having the ideal partnerships. Aion Digital, a digital banking platform that strives to revitalize banking through customer-centric digital transformations adaptable to financial institutions, is working with Fintactics as part of the developer’s mission to shape the financial landscape of the future. Both companies will be able to jointly develop and expand important digital products in the GCC and MENA thanks to this collaboration.
The signing included:
- Haitham Al Sahafy, CEO, Fintactics
- Mohammed Al Maghlouth, Managing Partner Fintactics
- Abdulatif Al Rajhi, Chairman, Aion Digital
- Ashar Nazim, Founder and CEO, Aion Digital
Signing of Reg-Tech (Lezaam) 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. RegTech-as-a-Service with all features and capabilities required for digital onboarding and eKYC from travel orchestration, compliance and AML screening, and digital investigation is what Leza’am, a new joint venture between Fintactics and Aion Digital, offers. Private and corporate clients for GCC and non-GCC nationals with additional fraud and risk management services.
The signing included:
- Haitham Al Sahafy, CEO, Fintactics
- Mohammed Al Maghlouth, Managing Partner Fintactics
- Abdulatif Al Rajhi, Chairman, Aion Digital
- Ashar Nazim, Founder and CEO, Aion Digital
Partnership Agreement for Fintactics & Bitfy Holdings
To accelerate the adoption of distributed Ledger technology in financial and non-financial verticals in the Kingdom, Fintactics has invested in Bitfy Holdings, a Brazilian-based venture pioneering “Blockchain as a Service” to offer tokenization of illiquid assets.
Through cooperation with relevant regulatory bodies in the Kingdom, CMA & SAMA, Fintactics will be able to localize blockchain tokenization and securitization technologies for physical and illiquid assets. This investment was followed by a partnership at the World Fintech Show.
The signing included:
- Haitham Al Sahafy, CEO, Fintactics
- Mohammed Al Maghlouth, Managing Partner Fintactics
- Lucas Schoch, Founder and CEO Bitfy Holdings
Launch of Fintech (Holoul)
Taking advantage of the opportunity to be pre-set at the World Fintech Show, the launch of the latest Fintactics Venture, Holoul, was announced.
In line with the Saudi citizens’ Vision 2030, Holoul is a digital mortgage platform that focuses on facilitating and improving home ownership. In Saudi Arabia, the mortgage market is developing rapidly, and the results are very positive.
There is little doubt that numerous market dynamics and political encouragement from various bodies and ministries 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.
The signing included:
- Haitham Al Sahafy, CEO, Fintactics
- Mohammed Al Maghlouth, Managing Partner Fintactics
- Basil Al Shamlan, Founder and CEO Holul Venture
About the World Fintech Show
The World Fintech Show is a thought-leadership-driven, business-focused event that dives deep into the latest challenges and technology trends in Saudi Arabia’s financial services sector.
The World Fintech Show sets the standard for financial innovation in the Kingdom by connecting global fintech experts, technology innovators and startups with pre-qualified CFOs, CEOs, CTOs, business transformation leaders, Chief Digital Officers, Heads of Innovation, public authorities and fintech investors from Saudi – Arabia.
The event contains exciting keynotes, presentations of business use, product demonstrations, panel discussions and technology talks. See next-generation fintech solutions from global technology leaders and explore their relevance and impact on organizations.
Learn more: World Fintech Show
About Trescon
Trescon is a global business and consulting company that offers a wide range of business services to a diversified client base.
With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our customers.
Learn more: Trescon
For further details of the announcement, please contact:
Nupur Aswani
Manager – Media, PR and corporate communications, Trescon
+91 95559 15156 | [email protected]
