Fintactics launches Holoul and Leza’am; signs MOU with Aion Digital and Bitify Holdings at Trescon’s World Fintech Show

By Leandra Monteiro

World Fintech Show, a global fintech series managed by Trescon offered Saudi Arabia’s fintech industry a platform for significant advancement. The event witnessed the launch of Fintactics Studio and its commitment to shape the future of fintech in the Kingdom of Saudi Arabia. World Fintech Show, which was held at the InterContinental in Riyadh, aided in establishing strategic alliances aimed at transforming the financial services industry for the foreseeable future.

World Fintech Show played host to the announcement and commencement of numerous partnerships. Here are some exclusive highlights of the event.

Launch of the Studio and VC Fund:
Fintactics Studio, the first dedicated Fintech venture builder in the region supported by a 150Mn SAR CMA authorized VC fund, will concentrate on supporting internal businesses and investing in cutting-edge, high-growth fintech ventures throughout the kingdom, MENA, and the rest of the world.
Fintactics Venture Builder has emerged out of Revival Lab and is launched under Arbah Capital.

Trescon hosted senior executives from the organizations:

• Saad AlMoammar, Chairman, Revival Lab
• Mohammed Al Maghlouth, Co-Founder and CEO, Revival Lab
• Haitham Al Sahafy, CEO, Fintactics
• Hisham Al Rashed, Board Member, Arbah Capital
• Mahmoud Koohaji, CEO, Arbah Capital

Partnership Agreement with Aion Digital
Success is contingent on having the ideal partnerships. Aion Digital, a digital banking platform that strives to revitalize banking through customer-centric digital transformations that are adaptable for financial institutions, is working with Fintactics as part of the builder’s mission to shape the financial landscape of the future. Both companies will be able to jointly develop and expand important digital products in the GCC and MENA thanks to this collaboration.

The signing included:

• Haitham Al Sahafy, CEO, Fintactics
• Mohammed Al Maghlouth, Managing Partner Fintactics
• Abdulatif Al Rajhi, Chairman, Aion Digital
• Ashar Nazim, Founder and CEO, Aion Digital

Signing of Reg-Tech (Lezaam) JV agreement
Businesses today require a fully digital onboarding experience to lead customers through their onboarding process as business resilience requirements and consumer expectations have grown. RegTech-as-a-Service with all features and capability required for digital onboarding and eKYC from journey orchestration, compliance and AML screening, and digital forensics is what Leza’am, a new joint venture between Fintactics and Aion Digital, is offering. Retail and corporate customers for GCC and non-GCC nationals with add-on services for fraud and risk management.

The signing included:

• Haitham Al Sahafy, CEO, Fintactics
• Mohammed Al Maghlouth, Managing Partner Fintactics
• Abdulatif Al Rajhi, Chairman, Aion Digital
• Ashar Nazim, Founder and CEO, Aion Digital

Partnership Agreement of Fintactics & Bitfy Holdings
To accelerate the adoption of Distributed Ledger Technologies in financial and non-financial verticals in the Kingdom, Fintactics has invested in Bitfy Holdings, a Brazilian-based venture pioneering “Blockchain as a Service” to offer tokenization of illiquid assets.
Through cooperation with the relevant regulatory bodies in the Kingdom, CMA & SAMA, Fintactics will be able to localize blockchain tokenization and securitization technologies of physical and illiquid assets. This investment was followed by a partnership at World Fintech Show.

The signing included:

• Haitham Al Sahafy, CEO, Fintactics
• Mohammed Al Maghlouth, Managing Partner Fintactics
• Lucas Schoch, Founder and CEO Bitfy Holdings

Launch of Fintech (Holoul)

Utilizing the opportunity of being preset at World Fintech Show, the launch of the most recent Fintactics Venture, Holoul was announced.
In keeping with the Saudi residents’ Vision 2030, Holoul is a digital mortgage platform that focuses on facilitating and enhancing homeownership. In Saudi Arabia, the mortgage market is evolving quickly, and the results are very positive.
There is little doubt that numerous market dynamics and political encouragement from various bodies and ministries were the driving forces behind this. In addition, it’s a marketplace where customers can find a variety of luxury home products that suit their demands.

The signing included:

• Haitham Al Sahafy, CEO, Fintactics
• Mohammed Al Maghlouth, Managing Partner Fintactics
• Basil Al Shamlan, Founder and CEO Holul Venture