DBWC report outlines opportunities, challenges and trends in fintech

The Dubai Business Women Council (DBWC) has issued a comprehensive report on recent discussions held during the second session of the Industry Insight round tables, which focus on various economic sectors. The report offers an overview of opportunities, challenges, and growth outlooks for women in the finance and financial services sector. It also examines the UAE's current Fintech landscape and the role women play in navigating challenges and building the future of Fintech. Participating in the initiative's second session were members of the council who are industry experts and specialists in Fintech, which has begun to take centre stage both in the region and across the world. The report includes an outline of the Fintech landscape and offers insights into the opportunities and challenges currently arising as the sector witnesses a transformative wave towards artificial intelligence, cryptocurrencies, and blockchain technologies. According to the report, participants in the session lauded the government 's smart transformation and highlighted the need for robust governance that ensures the security of digital transactions. They recommended that upcoming Fintech trends expand beyond financial dimensions to include a focus on carbon footprint management. Furthermore, they predicted a 20 per cent rise in digital activities, reflecting the transition towards a cashless economy. The report shed light on an important aspect of the discussions - the under-representation of women in Fintech, which reveals the need for strengthened gender inclusion, particularly in high-level positions. It also discussed key trends influencing the future of Fintech, which are based in technological developments. These trends include the boom in artificial intelligence and machine learning, the rapid adoption of digital payment methods, and the increasing influence of blockchain technology and cryptocurrencies. Alongside the growing focus on financial inclusion, these sector trends forecast a future with more personalised financial guidance, efficient payment systems, and projected changes to traditional banking services. In terms of the UAE's current Fintech landscape, the sector is led by a number of key catalysts, including regulatory support from the public sector, governmental investment initiatives, and a robust talent pool specialised in technology, finance, and business. Other developments emerging on the scene are surging investments in Fintech, increasingly widespread startups, and the integration of Fintech into various sectors, from retail to healthcare to education. Source: Emirates News Agency

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