Sumerge at Money 20/20: AI’s Impact on Finance
▼ Summary
– Sumerge participated in Money 20/20 Middle East in Riyadh, sharing insights on stage and the exhibition floor about emerging technologies in finance.
– Mohamed Nour, CTO of Sumerge, discussed AI regulation and open banking, emphasizing the balance between innovation and trustworthiness in banking.
– The company’s experts advised financial leaders on system integration, responsible AI adoption, and customer-centric digital experiences.
– Sumerge highlighted that effective AI leadership requires building trust, customer value, and strong data foundations for practical innovation.
– The event served as a platform for collaboration across the financial ecosystem, with Sumerge promoting collective efforts to design future financial services.
Sumerge, a prominent software development and IT consulting firm, made a significant impact at the recent Money 20/20 Middle East event in Riyadh. The company’s presence featured expert-led discussions and consultations focused on the evolving role of artificial intelligence in finance. Through both panel sessions and direct engagement, Sumerge demonstrated its capacity to support financial institutions in navigating technological transformation.
During a key panel on AI regulation and open banking, Sumerge Chief Technology Officer Mohamed Nour joined fellow industry leaders to address how banks can accelerate AI adoption while maintaining customer trust. The conversation centered on balancing rapid innovation with essential safeguards, covering topics such as consent and purpose-binding in open banking, system explainability, fairness, and interoperability. A major point of discussion was the transition toward agentic AI systems designed with built-in auditability.
Nour emphasized that genuine leadership in artificial intelligence extends beyond deployment speed. “Real leadership in AI isn’t just about speed; it’s about trust at scale and tangible impact,” he stated. He advocated for a focused approach that prioritizes customer value, establishes clear operational boundaries, and builds upon robust data foundations. According to Nour, when banks, fintech firms, and regulatory bodies work in harmony, innovation accelerates, confidence grows, and highly personalized financial products emerge to address real-world consumer needs.
Money 20/20 Middle East served as a collaborative hub, bringing together regulators, banking institutions, fintech innovators, and technology providers. Sumerge played a vital role in connecting these different sectors, offering expert perspectives on how new technologies can foster cooperative models between organizations. The company’s team of consultants provided tailored advice to financial leaders on achieving seamless system integration, implementing AI responsibly, and designing digital experiences centered on user needs.
Across all its activities, from advocating for responsible AI practices to enabling cross-platform solutions, Sumerge underscored the necessity of collective effort in shaping the future of financial services. The company’s participation reinforced its position not just as a thought leader, but as a practical transformation partner capable of guiding enterprises from initial concept through to full implementation.
(Source: MEA Tech Watch)
