RIYADH: The Embassy of Switzerland in Riyadh hosted a networking event on Sunday evening to launch Tenity’s KSA Fintech Opportunity Report 2025, featuring presentations from industry experts.
“Switzerland is a very important player in the financial sector, it has been for a long, long time, Saudi Arabia as well but in a different way and what is really exciting is Saudi Arabia is entering a new chapter in developing its fintech industry and there’s a lot of experience already in Switzerland,” Yasmine Chatila, Switzerland’s ambassador to the Kingdom, told Arab News.
“It is really great to have these kinds of collaborations because in the past we did not,” she said. “The nice thing about my job is we are entering into new sectors of cooperation and collaboration every year, and fintech is one of those.”
In her opening remarks, the ambassador pointed out that Saudi Arabia and Switzerland will commemorate 70 years of diplomatic relations in 2026.
“Today our relations are really underpinned by shared values of innovation, excellence, and international cooperation, and this is what brings us together on so many more and more new topics,” Chatila said.
She underlined that last year the embassy hosted the inaugural Saudi-Swiss Fintech Forum in Riyadh with Tenity an active participant.
Launched by Tenity, a Swiss global fintech and innovation platform, the Fintech Opportunity Report details insights from 30-plus senior leaders and experts from local banks, investors, and fintechs. The report uncovers the Kingdom’s most promising opportunities.
The event focused on the findings of the report with speeches from industry experts on opportunities including insurtech, wealth tech and gamified investments backed by government support.
According to the Saudi Central Bank, electronic payments accounted for 79 percent of total retail payments in 2024, a major goal that was achieved two years ahead of the 2025 target.
The presentation emphasized several key takeaways, including the importance of focusing on local market needs, local talent, and the value of finding a strong local partner. It also stressed the need for companies to spend more time localizing their approach and understanding the local culture.
Chatila noted in her remarks that Saudi Arabia and Switzerland’s finance ministries will hold their annual high-level “institutional dialogue” in November. The exchange aims to deepen understanding and collaboration between the two governments on a range of financial topics.
