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Fintactics Seals a String of Major Deals at the World Fintech Show

As the World Fintech Show wraps up for another year, Fintactics has come away with a string of exciting new partnerships and ventures. 

Fintactics has leveraged its attendance 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 the InterContinental in Riyadh, Saudi Arabia, World Fintech Show supports the advancement of the country’s fintech industry.

The global fintech series is managed by the business events and consulting firm Trescon, and ran from 5 to 6 December 2022. 

Facilitating a platform to support collaboration and dialogue between global fintechs and financial service 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 works as a dedicated fintech venture builder and is allocated to the Middle East and North Africa (MENA) region.

A SAR150million venture capital (VC) fund supports the Fintactics Studio. The fund itself is authorised by the Competition and Markets Authority (CMA).

The venture is concentrating support for internal businesses and investing in high-growth fintech ventures throughout the kingdom, MENA and the rest of the world.

The venture emerged 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 attendance at World Fintech Show. Its new partner is a digital banking platform revitalising banking through customer-centric digital transformations that are adaptable for financial institutions.

The signing included Haitham Al Sahafy, CEO of Fintactics, and Ashar Nazim, founder and CEO of Aion Digital.

The platform is working with Fintactics as part of the builder’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 fully digital onboarding experience to lead customers through their onboarding process as business resilience requirements and consumer expectations have grown.

Fintactics and Aion Digital’s partnership hits the ground running with the launch of Leza’am; the partnership’s regtech-as-a-service (RaaS) offering. Leza’am supports all the features of a digital onboarding service in the modern age.

The e-know-your-consumer (eKYC) service facilitates journey orchestration, compliance, anti-money laundering (AML) screening and digital forensics. This includes add-on services for fraud and risk management; 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 venture working with blockchain-as-a-service to offer tokenisation of illiquid assets.

Cooperating with CMA and the Saudi Central Bank (SAMA), Fintactics is localising blockchain tokenisation and securitisation technologies of physical and illiquid assets.

Holoul launch

Fintactics utilised its attendance at the World Fintech Show to confirm the launch of its latest venture, Holoul.

Holoul is a digital mortgage platform that facilitates and enhances homeownership. In Saudi Arabia specifically, the mortgage market continues to evolve at speed, demonstrating 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, it’s a marketplace where customers can find a variety of luxury home products that suit their demands.

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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