The MENA Fintech Association (MFTA), a not-for-profit organisation supporting fintech innovation across the Middle East and Africa, is expanding its flagship Future of Finance Working Group to now encompass artificial intelligence (AI).
Following the move, the MENA working group will be rebranded as the ‘Future of Finance and AI’, to reflect the impact AI is already having on financial services, as well as the pivotal role AI will play in shaping the next generation of fintech innovations.
MFTA says that AI is fundamentally changing the way financial institutions operate, deliver services, and manage risks. From automating decision-making processes to enhancing customer experiences, AI is quickly making its mark on the fintech industry across the globe.
To lead this expanded focus, MFTA has appointed Abdelali Zahi as co-chair of the Future of Finance and AI Working Group, alongside existing co-chair Ronit Ghose from Citi Bank.
Zahi serves as the EMEA head of AI for financial services and telcos at Oracle, with previous experience from leadership roles at Allianz Global Investors in Germany, where he spearheaded AI initiatives and developed critical investment and risk analytics platforms. He also previously served as CTO at a top 100 wealthtech firm in Switzerland.
“The Future of Finance and AI Working Group presents a unique opportunity to explore how AI can truly transform financial services,” Zahi explained. “I’m excited to collaborate with MENA Fintech Association members and stakeholders to unlock new possibilities through AI and shape the future of finance in the region.”
“Our region is uniquely positioned to become a global leader in AI-driven finance therefore the inclusion of AI in the Future of Finance Working Group is a natural evolution of our mandate to stay at the forefront,” said Nameer Khan, chairman of MFTA. “Abdelali’s appointment will also bring fresh perspectives and deep expertise to help our members navigate the rapidly changing landscape of AI-powered finance.”
Boarding the AI train
With its latest expansion, the Future of Finance and AI Working Group plans to focus on:
- Exploring the transformative applications of AI in financial services
- Addressing the ethical and regulatory implications of AI adoption
- Sharing best practices and insights on AI adoption within the MENA region
- Enabling collaboration between fintechs, banks, as well as technology providers to accelerate AI-driven innovation
Ronit Ghose, also added: “AI is reshaping the global financial landscape at an unprecedented pace. By integrating AI into our working group’s mandate, we aim to provide thought leadership, foster collaboration, and help financial institutions in the MENA region harness this transformative technology to drive sustainable growth.”
The MENA Fintech Association is inviting members and industry stakeholders to join this conversation as the financial services sector embraces AI-driven transformation.
