Financial tech firms, banks to network, cut deals at ABTEC trade show

The world’s largest financial tech companies will mingle with the Middle East’s most important financial industry leaders at the ABTEC trade show Tuesday and Wednesday at the Abu Dhabi National Exhibition Centre, showcasing conferences and new products.

Financial tech companies aim to convince banks and other financial institutions that they need to invest in the latest industry technologies to maintain a competitive edge in the future.

That message isn’t likely to be a hard sell. Global investment in financial services technology has tripled to nearly $3 billion since 2008, and some industry experts predict that could grow to $8 billion in the next three years.

“In an era of customer focused innovation, banks and financial institutions must remain at the cutting edge of technology in order to remain compliant, meet customer expectations and keep up with competition,” Syed Faisal Abbas, ABTEC's event director, said.

Technology companies, for their part, are vying for their stake in the multi-billion-dollar financial technology sector. With the rising role of financial technology, there are sure to be numerous deals struck on the exhibition floor, which will host live demonstrations of the products that will be shaping the future of finance. More than 60 technology providers are expected to have booths and/or demonstrations on the exhibition floor.