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Sumerge, a leading software development and IT consulting company, participated in the Money 20/20 Middle East conference held recently in Riyadh, Saudi Arabia, on October 8, 2025. The company’s experts shared valuable insights with attendees on artificial intelligence regulation in financial services and emerging technologies transforming the sector. Mohamed Nour, Chief Technology Officer at Sumerge, took part in a panel discussion focusing on AI regulation and open banking.
During the conference, Sumerge’s team of specialists provided consultations to financial sector leaders on building seamless system integration, adopting responsible AI, and designing customer-focused digital experiences. The company’s involvement highlighted how emerging technologies are reshaping the financial industry and positioned Sumerge as a vital partner in digital transformation capable of guiding institutions from concept to implementation.
AI Regulation and Open Banking Take Center Stage
The panel discussion brought together Mohamed Nour and other industry pioneers to explore AI tools that the banking sector can adopt while maintaining credibility. According to the discussion, topics ranged from balancing innovation with protection, including consent and compliance in open banking, to concepts of transparency, fairness, and interoperability. The conversation also addressed the shift toward auditable AI agent systems designed with accountability from the ground up.
Mohamed Nour emphasized that true leadership in artificial intelligence extends beyond speed to encompass trust and tangible impact. “Real AI leadership is not just about speed, but also about widespread trust and concrete impact,” Nour stated during the event. He stressed the importance of moving quickly while building what matters: genuine customer value, clear protection rules, and solid data foundations.
Collaboration Drives Financial Innovation
The Sumerge executive noted that when banks, fintech companies, and regulatory bodies collaborate, innovation does not slow down but rather multiplies. According to Nour, trust rises and new products emerge designed specifically to solve real customer problems, making AI a driving force for practical innovation and achieving results. This collaborative approach represents a fundamental shift in how financial services institutions approach digital transformation.
Money 20/20 Middle East served as a unique platform for collaboration across the financial ecosystem, bringing together regulators, banks, fintech companies, and technology providers. Additionally, Sumerge’s participation helped connect these entities by offering perspectives on how emerging technologies contribute to launching new models for inter-institutional cooperation. The company emphasized the importance of teamwork in designing future financial services.
Emerging Technologies Transform Financial Services
From responsible AI adoption to cross-platform integration and customer-centric innovation, Sumerge highlighted several key areas where technology is driving change in the financial sector. The company’s experts provided guidance on implementing these technologies while maintaining regulatory compliance and customer trust. However, the discussions acknowledged that successful implementation requires careful planning and coordination among multiple stakeholders.
The conference demonstrated the growing importance of digital transformation in the Middle East financial sector, particularly in Saudi Arabia. Meanwhile, industry leaders recognized that emerging technologies such as artificial intelligence and open banking frameworks present both opportunities and challenges that must be addressed through collaborative efforts. In contrast to previous approaches, the focus has shifted toward building transparent, accountable systems that prioritize customer needs.
Financial institutions attending the conference received practical insights on navigating the complex landscape of AI regulation and technology integration. The discussions underscored the need for clear frameworks that enable innovation while protecting consumer interests and maintaining system integrity. Industry observers expect continued dialogue among stakeholders as new regulations and standards emerge in the coming months, though specific timelines for implementation remain uncertain.
