Fintech industry experts in the MENA (Middle East and North Africa) region do not believe that the market has reached saturation yet. While there has been significant growth in the fintech sector in recent years, experts believe that there is still ample room for expansion and innovation.
One of the main reasons for this belief is the large population in the MENA region, which includes more than 400 million people. Additionally, many people in the region are still unbanked or underbanked, which presents a significant opportunity for fintech companies to provide financial services to those who have previously been underserved by traditional banks.
Furthermore, the region’s regulatory environment is becoming more supportive of fintech innovation, with many governments in the region implementing policies and regulations to encourage the growth of the industry.
Overall, while there has been significant growth in the MENA fintech sector, experts believe that the market is far from saturated, and there is still plenty of opportunity for innovation and expansion in the years to come.
Industry experts have denied the perception that the fintech business is oversaturated in the Middle East and North Africa (MENA) region while calling out traditional banking institutions for failing to identify customer requirements.
While the Far East and certain Western markets may have achieved saturation in certain industries, the ecosystem in this region is still in its infancy.The Fintech market has a long way to go and on the consumer side, though, some peer-to-peer sharing apps and financial wallets may be approaching saturation.