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According to the DIFC and Refinitiv research, fintech investment will reach $949 billion by 2030, fueling global innovation.

Fintech investment is expected to increase by 17.2% CAGR to $949 billion between 2022 and 2030, driving up the rate of fintech innovation worldwide.

The predictions are based on a report called “Drivers of Innovation in Financial Services” that was released by the Dubai International Financial Centre (DIFC), the MEASA region’s financial hub, in association with Refinitiv, a company that provides financial markets data and infrastructure and is a subsidiary of the London Stock Exchange Group (LSEG).

In addition to outlining the significance of innovation within well-established financial institutions to support agile development and boost future competitiveness through frameworks like Venture Studios, the DIFC research also provides a five-year vision for innovation in the financial services sector.

Reducing operational costs and simplifying wasteful procedures are the results of business model and product developments that make use of automation technologies like artificial intelligence (AI), blockchain, and cloud computing.

Dubai and the DIFC are home to an innovation ecosystem that offers financial institutions and fintechs alike the tools, platforms, and regulatory backing that enable financial innovation. Dubai is a critical location for fintech and innovation businesses in the region. This support encompasses a variety of measures, such as progressive legislation, forums for entrepreneurship and acceleration, venture capital and other start-up funding sources, and globally recognized talent development initiatives.

DIFC

“In recent years, fintech has been a cornerstone for financial innovation”

“Investments in fintech, projected to grow by 17.2 per cent CAGR to USD $949 billion between 2022 and 2030, are accelerating the ongoing pace of fintech innovation globally and in Dubai,” stated Arif Amiri, CEO of DIFC Authority. This offers tremendous potential for growth and innovation, especially when combined with access to rapidly expanding emerging markets and the world-class financial, regulatory, and innovation ecosystem of the DIFC.

“We are already witnessing financial institutions at DIFC actively collaborating with disruptive start-ups to shape the financial landscape in alignment with our 2030 strategy and beyond.”

“Innovation in the financial industry has become more important than ever with the continuous and fast pace of disruption in the industry pushing all players to find new ways of doing business,” said Nadim Najjar, managing director of CEEMA at the London Stock Exchange Group.

“In recent years, fintech has been a pillar of financial innovation, bringing in an increasing number of new technologies that facilitate the creation of new business models, applications, workflows, or goods. An overview of financial innovation as well as emerging financial breakthroughs that will influence the sector over the next five years are provided by the “Drivers of Innovation in Financial Services” report.

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