In an inspiring session at the 24 Fintech 2024 conference, Ant International’s CEO Yang Peng delivered insights on the future of financial services and emphasized the company’s commitment to economic inclusion in Saudi Arabia. The company’s vision aligns with Saudi Vision 2030, aiming to elevate the kingdom as a global leader in fintech innovation.
Ant International’s Alignment with Saudi Vision 2030
Saudi Arabia’s SME sector has witnessed rapid growth, supported by Saudi Vision 2030, with SMEs contributing 28.7% to the country’s GDP. Yang Peng highlighted the potential Saudi Arabia holds due to its large market, young population, and government support, stating, “Ant International shares similar goals and visions for innovation and economic inclusion, complementary to the local government’s endeavors.”
As Saudi Arabia gears up to become a financial innovation hub, Yang believes that Ant International’s expertise in the SEA region can be leveraged to enhance the country’s digital economy. He added, “Our expertise, together with Saudi Arabia’s vision for growth and innovation, are complementary for establishing the region as a financial innovation hub in time for Saudi Vision 2030.”
Driving Digital Inclusion and Empowering SMEs
Yang outlined how Ant International’s suite of digital solutions will support Saudi Arabia’s growth:
- Alipay+: Offering seamless digital payment experiences for global tourists and local merchants.
- Antom: Facilitating local users’ access to global e-commerce and digital entertainment platforms.
- WorldFirst: Providing SMEs with a Global SME World Account Service and supporting international trade.
- bettr: Enhancing financial inclusion with AI-driven financing solutions for MSMEs.
- Whale: The blockchain-based Real-Time Payment (RTP) Platform advancing treasury management.
Yang emphasized Ant International’s commitment: “We are committed to supporting Saudi Arabia to fulfill its goals for travel, digitalization, and SME growth with our technologies and innovations.”
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Building a Collaborative Financial Ecosystem
Yang expressed Ant International’s philosophy of collaboration and inclusion. “Ant International’s philosophy is open, inclusive, and tech-driven. Collaboration has always been in our DNA,” he said. He believes this spirit of cooperation is vital to creating long-term success.
The company’s collaboration with the Saudi government began in May 2024, when the Ministry of Investment of Saudi Arabia (MISA) signed a Memorandum of Understanding (MoU) with Ant International, signaling shared goals for technological innovation and growth.
Through its solutions, such as Alipay+, Antom, WorldFirst, and bettr, Ant International aims to empower Saudi SMEs, creating seamless global connections that drive economic prosperity.
About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.
About 24 Fintech 2024
24 Fintech 2024 will converge in Riyadh, Saudi Arabia, featuring an exhibition at Riyadh Front Exhibition and Convention Centre from September 3-5, attracting 26,000 attendees, over 300 speakers and more than 300 exhibitors.
Homepage of 24 Fintech 2024: https://24fintech.com/24-fintech-2024
