- Middle East
- Innovation, disruption and global expansion take centre stage at FinTech Abu Dhabi
Innovation, Disruption And Global Expansion Take Centre Stage At FinTech Abu Dhabi
The growth of the FinTech industry and its success in transforming the way we live were top of the agenda today, as the second day of FinTech Abu Dhabi welcomed more than 5,000 local and international delegates.
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 22nd Oct, 2019) The growth of the FinTech industry and its success in transforming the way we live were top of the agenda today, as the second day of FinTech Abu Dhabi welcomed more than 5,000 local and international delegates.
The second day of the global financial and technology event, held at Abu Dhabi National Exhibition Centre,ADNEC, under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of the Abu Dhabi Executive Council, was graced by the presence of H.H. Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Chairman of the Executive Office and members of the Executive Council.
Elizabeth Schluze, Technology Correspondent of CNBC,UK, chaired a panel with two unicorns - Lucy Liu, co-founder and President of Airwallex, Australia’s fastest ever growing start-up, and Lex Greensil, co-founder and CEO at Greensil, a market leading capital finance provider, to explain how their companies achieved the much-sought after $1 billion + ‘Unicorn valuation’.
Lui said: "You have to think big, be ambitious and bring in a group of people who believe in what you’re doing. Talent is very important. Running a business is about being driven and how we can better service our customers to solve their problems.
"Having a team who has strong leaders who are good at what they’re doing is very important. It is very hard to go global if you don’t have the right people on ground."
Greensill added: "It is about having extraordinary vision, determination, the conviction to execute and, most importantly, patience."
"Our approach is line with the UAE government’s plans to digitally transform financial transactions, services and products in the UAE and develop a financial market that ensures safe and transparent trading."
Promoth Manghat, CEO of Finablr, the global payments platform and money exchange solutions company, explained how established and aspiring entrepreneurs can elevate their company from being successful locally to making an impact on the global stage.
"The best advice I can give to start-ups and entrepreneurs is to focus on the scale of the problems that can be solved," Promoth said.
"What has been really important in our growth is looking after customers and keeping innovation on the go. In this day and age, payments are part of everyday life and over time we have had to introduce changes to a market that continues to evolve."
Edward Knight, Vice Chairman of NASDAQ, explained how the region is witnessing great economic growth and collaboration.
"We are seeing growth in terms of the markets reforming themselves and looking at how there can be more coordination amongst themselves to create a greater pool of liquidity.
"There are many different paths to success, not one standard formula, but it is not easy. Being a public company is not for everyone. It requires a lot of discipline and the ability to produce on a predictable and stable basis revenues and profits for shareholders."