Page 39 - SAMENA Trends - July-August 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

have been fully understood and resolved in real-time. Global Chess and fully immersive 3d-experiences to home buyers by generating
League, a joint venture between FIDE and Tech Mahindra, will be images of a complete home environment, in near real manner using
the world’s largest and first-ever league-style chess tournament. Epic Games Unreal Engine 5. Tech Mahindra unveiled Generative
The inaugural edition which took place in Dubai from 21st June AI studio under its amplifAI0->∞ suite of AI offerings. The studio
to 2nd July’23, featured six teams with six players each including will be a one-stop-central providing customers with both structured
a minimum of two female players and one Icon player per team. and customized aspects of AI, bringing all six aspects of content
World Champions like Viswanathan Anand, Magnus Carlsen, Ding generation – code, document/text, image, video, audio, and data
Liren and Hou Yifen were part of the tournament. Tech Mahindra - under one roof. The studio is also scalable, making it suitable
and IndoSat launched a Center of Excellence (CoE) lab powered for businesses of all sizes. Tech Mahindra and EarthID, an award-
by Google Cloud in Jakarta to accelerate Indonesia’s digital winning decentralized Identity management platform, announced
transformation. This will harness advanced next-gen capabilities a strategic partnership to create a blueprint for Self-Sovereign
like 5G, Edge computing, Data analytics, Internet of Things, Identity (SSI) powered Metaverse platform that will provide users
Augmented Reality and Virtual Reality. Lab seeks to provide control over their data through privacy & consent. SSI- powered
intelligent analytics to CSPs through hyper-personalized offerings Metaverse will empower enterprises to mitigate security concerns
throughout customer journey. Tech Mahindra and Mahindra related to stolen identities and sensitive data, which may lead to
Lifespace Developers, partnered to drive innovation in PropTech huge legal and financial losses.
platform. The platform will provide first-of-its-kind photo realistic

Zain’s “Tamam” Platform in Saudi Arabia Awarded

‘Best Personal Finance Solution’ in Middle East

Zain, a leading provider of innovative technologies and digital
lifestyle communications operating in seven markets across the
Middle East and Africa, announces that its “Tamam” financing
services operation in Saudi Arabia has been selected as the ‘Best
Personal Finance Solution’ by Entrepreneur Middle East Magazine,
at its 2023 Middle East Fintech Awards event held in Dubai
recently. With the aim to increase financial inclusion in line with
the Kingdom’s ‘Vision 2030’ Financial Sector Development Plan,
Tamam was established in 2019 under the Saudi Central Bank’s
Regulatory Sandbox program. Following 18 months of extensive
proof-of-concept testing, on December 31, 2020, Tamam attained
the first consumer micro-financing commercial license awarded
in the Kingdom and the region to offer micro-loans via a fully
digital customer experience on a mobile app. Tamam offers the
fastest response financing services in Saudi Arabia, providing
individuals with the opportunity to receive Shari’a-compliant loans
without physically visiting a bank location. The platform’s end-to-
end application and award process takes just minutes from the
time of downloading the app to the loan amount being paid out.
Commenting on the award, Tamam CEO, Yousef AlMusaileem said, of its customers. The platform’s products include instant approvals;
“We are extremely proud of the work we do at Tamam in driving short-term financing; and fully digital, quick, easy, and secure
financial and digital inclusion across the Kingdom. We believe solutions. Potential customers can apply easily, using the Tamam
firmly that everyone deserves fair and equal access to financial app, receive rapid approval, and take advantage of the flexible
services and take our participation in the Kingdom’s Vision 2030 conditions and easy processes. Loans are provided to Saudi
Financial Sector Development Plan extremely seriously, with the nationals and residents, without the requirement of a salary
aim of bringing as many individuals as possible into the digital transfer or guarantor, with a finance amount up to SAR 50,000
economy.” available for a 24-month tenure. Tamam is passionate about its
Key Features of Tamam vision of becoming a leader in delivering innovative fintech
As one of Saudi Arabia’s most innovative micro-financing digital solutions, supporting the socio-economic development of Saudi
institutions, Tamam’ solutions cater to the evolving financial needs Arabia and beyond.

39 JULY-AUGUST 2023