Roger Rouhana, founder and CEO of Alpheya, talked to Dave and Dharm at the Dubai Fintech Summit.

Roger discusses Alpheya, a B2B wealth tech platform delivering AI-first solutions to institutional clients. Roger explains the need for digitalisation in the wealth management sector and the unique features of Alfea's cloud-native and AI-first platform.

Roger also discusses the challenges and opportunities in the wealth management market, the company's significant funding, its technology-focused approach, and the choice of ADGM in Abu Dhabi for operations.

He highlights the optimism and growth opportunities in the Dubai market, along with insights on regulatory comparisons between the US and the UAE, emphasising the collaborative and business-friendly environment in the region.

Overall, the conversation sheds light on Alpheya's innovative approach, strategic partnerships, and commitment to addressing complex challenges in the financial sector.

In the episode, Dave and Dharm speak with Mohamed Abdel Razek, Mashreq's Head of Technology, during the Dubai Fintech Summit.

Mohamed shares his tech background, which spanned various industries like telco, oil and gas, and fast-moving consumer goods before joining the financial sector. He discusses bringing insights from other industries into banking technology, focusing on digital transformation at Mashreq. The bank emphasises client experience, utilising digital tools for seamless customer journeys.

Mohamed highlights Mashreq's adoption of new technologies like AI, ML, and robotics, along with their resilience-focused approach and core banking transformation.

He also discusses the bank's collaboration with fintechs, the regulatory environment in the UAE, and the country's digital growth trajectory. Mohamed elaborates on the Agile approach within Mashreq, emphasising the relationships between IT and business units.

Additionally, he shares insights into AI initiatives, the bank's venture into Egypt and Pakistan, and their corporate stack transformation project, aiming for a seamless and innovative customer experience.

The episode features a conversation with Mohammad Alblooshi, CEO of DIFC Innovation Hub and Fintech Hive, discussing the rapid growth of Dubai's FinTech ecosystem over the past seven years.

The focus is on creating a supportive environment for FinTech startups with initiatives like regulatory sandboxes, access to capital, co-working spaces, and talent development. The hub aims to be a global leader in financial innovation, attracting local and global companies.

The episode underscores the pivotal role of collaboration in Dubai's FinTech market. Regulators, government, and industry work hand in hand to drive the market, ensuring both safety and growth. This collaborative approach is a key factor in the stability and growth potential of the ecosystem.

The ambition is to establish DIFC as a top player in the FinTech landscape, producing unicorns and attracting big tech companies to leverage the ecosystem. The conversation highlights Dubai as an attractive location for FinTech investments and talent, inviting a broader audience to explore the opportunities in the region.

In this episode, Jayesh Patel, the CEO of Wio Bank, shares insights on establishing a neobank in Dubai.

He discusses the vision behind Wio Bank, focusing on serving tomorrow's businesses and customers through improved banking apps, embedded finance, and banking as a service.

Wio's success lies in focusing on SMEs first, prioritising user experience over technology, and understanding the diverse needs of different business types. Patel highlights the importance of customer research, simplicity in financial products, and industry partnerships for addressing evolving revenue models.

He emphasises Dubai's vibrant FinTech ecosystem, driven by government initiatives, access to capital, and a diverse talent pool, making it an ideal location for FinTech startups.

Jayesh's strategic approach and customer-centric focus have quickly led Wio Bank to profitability, showcasing the potential for growth and innovation in the region's financial sector.

Arcady is a veteran, serial fintech entrepreneur!

Over twenty-four years ago, he was part of the founding and management of a challenger digital bank that grew to over $37bn in assets. The same group then launched the 1st generation of BaaS solutions, and with that, they grew to over $60bn in assets under custody.

Now, he is the founder and CEO of Agora, a third-generation banking platform at the intersection of BaaS and embedded Fintech. Agora has built its own modern composable cloud-core banking solution and is working with sponsor bank(s) for the compliance and bank charter aspects.

Arcady demystifies the differences between the US and European Banking Markets and some of the challenges of addressing the US market, which is spread across over 9000 banks. He also provides some great insights on bank partnerships with FinTechs.

Inevitably, we also discuss the challenges of legacy technology, not only for banks but also for incumbent core banking providers.

Riaz Syed is an experienced professional who has worked in the banking technology industry for over 30 years. He has witnessed the market evolve and change during this time, and his incredible experience has led him to establish Infinant. By sitting on top of existing cores, Infinant's powerful Banking Technology + platform Interlace empowers banks to embrace the digital revolution in a way that was previously not possible. Infinant's platform, Interlace, opens the door to new digital opportunities such as BaaS and embedded banking to community, regional, and super-regional banks in the US market. All without the downsides of having to replace an existing core.

Nelson Wootton, Founder and CEO, and Matthew Breadon, CCO of SaaScada, join us to discuss how frustrations with broken promises and the speed and agility of the Core Banking providers were the driving forces behind setting up a company with a new product that offered a modern alternative. The product is cloud-based, plug-and-play, multi-tenanted, and named after Pirates!

In this latest episode of the Demystify Podcast, Sam Everington, CEO of Engine by Starling and Carlton Hopper, UK Managing Director of GFT, discuss their partnership.

Sam outlines their strategy to scale by having partnerships like GFT implement their platform so that his team at Engine can focus on being the best banking platform company. He highlights that this not only accelerates their geographic reach but also allows them to address different markets.

Carlton explains that the partnership works on trust and a shared vision and that GFT's extensive experience in Financial Services means that they were adding value to implementations from day one.

Please note that there were a few problems with the sound quality of the recording, most of which our excellent production team have ironed out, but please excuse the odd glitch or two.

00:00 Introduction and Guest Backgrounds

02:50 Understanding the GFT and Starling Bank Partnership

09:29 The Importance of Trust and Shared Vision in Partnerships

19:17 The Role of Competition and Consumer Demand in Replatforming

23:50 The Global Market Opportunity for Digital Banking

27:53 The Genesis of Starling Bank's Engine

Charlie Platt is the Managing Director of Banking at SAP Fioneer. He talks about the history of the business and the advantages of it becoming a standalone business separate from SAP. He explains how the decision was made and the significant investment the company received. Charlie also discusses the continued strong partnership between SAP and Fioneer, with Fioneer utilising SAP's infrastructure and technology.

He highlights the importance of developing a strong company culture and the challenges that come with it. Charlie helps demystify the strategy for bringing new products to market and focusing on modernisation rather than core replacement.

Takeaways

Fioneer is a standalone business separate from SAP, focusing on core banking and insurance solutions.

The decision to separate was driven by the need for speed and agility in the rapidly changing financial services industry.

Fioneer retains a strong relationship with SAP and utilises its infrastructure and technology.

Chapters

00:42 Introducing Charlie Platt from Fioneer

02:02 Understanding Fioneer and its connection with SAP

04:09 The birth of SAP Fioneer and its unique business model

07:13 The challenges and triumphs of separating from SAP

11:37 The power of SAP's comprehensive technology stack

15:05 The importance of customer-centric product development

18:15 Exploring the future of banking innovation

21:13 The role of Fioneer in the modernization of banking

31:01 Conclusion: The journey towards a modern banking experience

In this enlightening episode, we talk with Lukky Ahmed, the visionary co-founder and CEO of Climate X, a trailblazing firm at the vanguard of highlighting climate risk through technological innovation.

With a rich background in international banking and expertise in risk management, regulatory change, and consultancy, Lukky shares how his experiences perfectly positioned him to address the critical data gaps in climate risk analysis.

Lukky demystifies Climate X's pioneering solution: a digital "twin" of Earth designed to map the probability and severity of extreme weather events decades in advance.