Saudi Arabia’s Fintech Sector Attracts AI Startups
Saudi Arabia’s financial technology sector is attracting a new breed of artificial intelligence startups aiming to take part in the already booming industry.
Singaporean Startup Dyna.Ai Eyes Saudi Fintech Market
With presence in seven countries, Singaporean AI-powered startup Dyna.Ai is moving its focus to the Saudi fintech market as it aims to cement its local presence with a domestic office.
Commitment to the Saudi Market
In an interview with Arab News, Tomas Skoumal, chairman of Dyna.Ai, shared that the company is in the process of registering in the Saudi market.
Local Presence and Job Creation
The company plans to establish a local office in the Kingdom, reflecting its commitment to the region.
Challenges in the Financial Sector
“The financial sector faces numerous challenges, and businesses need to accelerate their transformation rapidly by digitizing services to meet the needs of modern customers,” Skoumal explained.
End-to-End Solutions
Dyna.Ai offers solutions that address these challenges by providing end-to-end offerings through products for customer acquisition, marketing, risk management, and operational productivity.
AI Solutions in the Financial Sector
Dyna.Ai’s immediate goals include embedding AI solutions at the heart of the financial sector and hiring local talent to support their operations.
Creating Impact in the Saudi Financial Services Sector
The company’s long-term vision involves creating a significant impact on the Saudi financial services sector, which is projected to benefit from AI advancements significantly.
Collaboration with Governmental Bodies
Dyna.Ai’s expansion strategy in Saudi Arabia includes a strong local presence and collaboration with governmental bodies.
Customized Solutions for the Saudi Market
Dyna.Ai has also introduced new products specifically tailored for the Saudi market, including Dyna Avatar and Dyna Athena, which are designed to enhance customer interaction and communication in local dialects.
Future Industry Trends
Looking at future industry trends, Skoumal highlighted several opportunities for Dyna.Ai in the evolving AI and fintech landscape.
Profitability and Innovation
Regarding profitability, Skoumal stated that Dyna.Ai has strong unit economics and robust fundamentals, with a focus on growth and deploying solutions with clients.
The motivation behind founding Dyna.Ai stemmed from Skoumal’s extensive experience in the global financial sector, emphasizing the company’s commitment to innovation and refining solutions.