MFTA and Money20/20 Middle East Unveil Strategic Playbook for Saudi Arabia’s Next Fintech Wave

The MENA Fintech Association and Money20/20 Middle East have released a strategic playbook detailing the evolution of Saudi Arabia’s fintech sector. For fintech professionals, the report highlights a shift from basic digital payments toward sophisticated financial infrastructure and SME lending, providing a roadmap for navigating the Kingdom’s ambitious Vision 2030 targets and regulatory landscape.

What was announced

The strategic playbook, titled "The Saudi Fintech Opportunity: Where Is the Market Heading?", identifies the next phase of growth for founders, investors, and financial institutions within the Kingdom. It draws on data from Saudi Arabian financial regulators, Vision 2030 reporting, and regional venture market sources to illustrate a market that has expanded from 20 companies in 2019 to 301 in 2025. The Financial Sector Development Programme aims to reach 525 active fintech firms by 2030.

A key finding is the maturity of the payments landscape. In 2025, 85% of retail payment transactions were electronic, totaling 14.6 billion transactions. This represents a steady climb from 79% in 2024 and 70% in 2023. While venture funding in the Kingdom reached USD 1.72 billion across 257 deals in 2025—a 145% year-on-year increase—the report notes a decline to USD 219 million in the first half of 2026, suggesting a shift toward more disciplined capital requirements.

The playbook also identifies significant gaps in the SME and pilgrimage sectors. Despite 1.7 million SMEs contributing 22.9% of GDP, they currently account for only 9% of bank loan books, well below the 20% target set for 2030. Furthermore, with expatriate remittances reaching SAR 165.5 billion in 2025 and international Umrah arrivals exceeding 16.9 million in 2024, there is a clear demand for specialized cross-border and visitor-focused financial services.

"Saudi Arabia’s fintech story has moved beyond proving that digital financial services can scale. The next phase is about identifying where meaningful gaps remain and building solutions that address them with commercial discipline, regulatory understanding, and a clear view of local market needs. This playbook brings together data and practical insights to help founders, investors, and financial institutions assess those opportunities more effectively. The strongest outcomes will come from combining the infrastructure already in place with solutions designed specifically for the needs of Saudi businesses and consumers."

Nameer Khan, Chairman of the MENA Fintech Association

The companies involved

The MENA Fintech Association (MFTA) is a non-profit organization that serves as a central hub for the fintech ecosystem across the Middle East and North Africa. Based at mena-fintech.org, the association works to bridge the gap between regional regulators, financial institutions, and technology providers. It has been instrumental in providing regulatory updates and fostering cross-border partnerships to scale financial infrastructure in the region.

Money20/20 Middle East is a major industry platform that brings together global and regional leaders to discuss the future of money and financial technology. As part of the wider Money20/20 brand, the Middle East edition focuses specifically on the unique regulatory and commercial dynamics of the GCC and surrounding markets. The collaboration between MFTA and Money20/20 Middle East leverages their combined reach to provide deep market intelligence, such as this playbook, which serves as a benchmark for the Kingdom’s progress toward its Vision 2030 objectives.

What FF News has reported before

FF News has closely followed the activities of the MENA Fintech Association as it expands its regional influence. In October 2026, we reported that the Jordan FinTech Academy and MFTA Partner to Accelerate Regional Innovation. This followed a busy September for the association, which included the release of a bi-annual regulatory update on ADGM’s evolving digital asset framework and a global alliance with STORM Partners to scale Web3 infrastructure. Additionally, our coverage of Money20/20 Middle East highlighted significant regulatory moves by SAMA to enable new payment technologies like Alipay+ and Apple Tap to Pay.

What this means

The Saudi fintech market is entering a period of necessary consolidation and specialization. While the fifteenfold increase in the number of firms since 2019 is impressive, the sharp decline in venture funding during the first half of 2026 suggests that the era of easy capital is ending, replaced by a demand for commercial sustainability. The industry is now under pressure to deliver on the high expectations set by Vision 2030, particularly in the SME sector where a massive credit gap remains. For incumbents, the rapid adoption of electronic payments—hitting 85% in 2025—means that basic digital offerings are no longer a differentiator, but a baseline requirement for survival in a maturing market.