As Generation Z embraces financial technology (FinTech) applications, they are transforming how transactions are conducted in their daily lives. From Buy Now, Pay Later (BNPL) services to digital loans and banking, these innovations cater specifically to their needs and preferences. The Saudi Central Bank's initiative, "FinTech Saudi," highlights nine key areas for growth in the sector, including banking infrastructure, payments, and personal finance management. The rise of BNPL services has particularly captured Gen Z's attention, allowing them to make purchases without immediate financial strain. With the global BNPL market projected to grow significantly, the demand for flexible payment options is evident. Additionally, digital banking and peer-to-peer lending are becoming mainstream, offering faster, more accessible solutions than traditional banks. As FinTech continues to evolve, it not only enhances consumer experiences but also poses challenges such as higher interest rates and regulatory scrutiny. The upcoming FinTech conference in Riyadh will further explore these trends and innovations.
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