Ant International CEO Yang Peng shared the company’s learnings and insights into the future of financial services innovation and his vision for prosperity and inclusion in Saudi Arabia at 24 Fintech 2024 event.
In his keynote presentation, Peng highlighted Saudi Arabia’s growing SME sector thanks to the government’s support and the Saudi Vision 2030 initiative, with 1.27 million SMEs contributing to 28.7% GDP of Saudi Arabia in 2023.
“Ant International shares similar goals and visions for innovation and economic inclusion, complimentary to the local government’s endeavors,” Yang said.
“We have a wealth of experience and trusted technological capabilities that help drive digital economy growth in emerging markets such as the SEA region. 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.”
The CEO stressed that Ant International is “fully aligned” to the Saudi Vision 2030 — an initiative that will help the country develop global connectivity with its SMEs, grow its digital economy and ensure equal access and opportunities for its people.
Through building an open ecosystem, Ant International said it is willing to “work closely with local partners” and introduce its digital solutions, including AliPay+, which supports local merchants by offering a digital payment experience, its merchant payment service provider Antom, embedded finance service bettr, WorldFirst, a one-stop digital payment and financial services platform for global businesses, and Whale, its blockchain-based Global Real-Time Payment (RTP) platform for treasury and liquidity management.
“Ant International’s philosophy is open, inclusive and tech-driven. Collaboration has always been in our DNA. At Ant International, we believe in the power of small. And with Wallet Tech, Payment Tech, Credit Tech, Platform Tech, and Risk Tech, technology is behind everything we do and every solution we offer,” added Peng.
