The banking and fintech sectors across the GCC are experiencing a profound transformation fueled by rapid technological innovation, changing consumer behaviors, and strong government support for economic diversification. The financial services landscape is evolving beyond traditional banking models, as fintech startups and established institutions leverage digital technologies to enhance service delivery, improve financial inclusion, and drive innovation....
The region's banking sector remains fundamentally strong, with a robust mix of conventional and Islamic financial institutions. However, the rise of FinTech companies is accelerating change, introducing novel solutions such as digital payments, neo banking, embedded finance, and blockchain applications that cater to a digitally savvy population. These developments are reshaping customer expectations and competitive dynamics, leading to new business models like Banking-as-a-Service (BaaS) and open banking platforms.
