In line with Vision 2030’s goal to bolster business and financial services, the Saudi Arabian Monetary Agency (SAMA) launched on Sunday the Fintech Saudi initiative to uphold the financial technology system and promote the Kingdom to become a financial technology hub. Through this initiative, SAMA will prop up small and medium enterprises, diversify the local economy and create job opportunities. SAMA Governor Ahmed bin Abdulkarim al-Khelaifi said that even though ATMs, credit cards, internet banking and mobile phones are all means that employ financial technology, "we are witnessing a great evolution in the fintech sector.” This is “based on the growth in large data use, smart phones and the rising consumer desire to access financial services that meet their personal needs." He added that the emergence of new technical trends: artificial intelligence and Block chain are changing how services are provided. Fintech Saudi is an ambitious national initiative that seeks to develop the financial technology sector and promote a culture of innovation in financial services by creating a thriving and responsible system based on local and international stakeholders. It also aims to enable foreign and local investors to invest in companies specialized in this field. This will contribute to job creation and support of financial technology companies. The initiative has a number of goals, most importantly, the launching of the first version of the financial system in the Kingdom. It also seeks to educate individuals and inspire them to develop their knowledge and skills in the field of technical finances. It seeks to encourage local banks, international financial technological companies and partners to enact various events in the financial technology sector within the Kingdom. Fintech Saudi is expected to launch a number of workshops, educational and awareness activities targeting university students, investors, companies and banks to introduce the initiative and its contribution to a qualitative shift in the provision of financial technology services.