Manama: FinTech Forward 2025, held from October 8-9, has brought together global innovators and industry leaders to explore emerging opportunities, strengthen partnerships, and showcase advancements in financial technology, highlighting Bahrain's growing role as a regional FinTech hub. Speaking to Bahrain News Agency (BNA), Dickon Johnstone, Founder and Group CEO of Aman, highlighted Bahrain's leadership in fostering innovation and compliance through fintech. "Aman is Bahrain's first end-to-end digital financial crime platform. We are part of a national campaign supporting all commercial registrations, large or small, to access the latest AI systems and tools to meet their due diligence requirements," he said.
According to Bahrain News Agency, Johnstone explained that Aman's mission is to help firms automate compliance processes and ensure they meet local and international standards, protecting Bahrain's reputation as a safe and trusted financial centre. He also announced the launch of the Aman AI Investigator, Bahrain's first specialised large language model for combating financial crime, which enables companies to complete enhanced due diligence in minutes.
Barry O'Donohoe, CEO and Co-Founder of UK-based Raidiam, discussed the transformative role of data sharing and AI in financial technology. "We saw the challenges that existed, and we began that work in the UK about eight years ago. It hadn't been done before, and it's now become a blueprint for other markets globally," he said.
O'Donohoe highlighted that AI is driving more personalised experiences while expanding the use of data beyond financial services, creating powerful new opportunities for innovation. Offering advice to aspiring FinTech founders, he added: "Think deeply about what you're going to solve for. Be clear about your why, find the right partners, and persevere through all the ups and downs. Building a global brand from scratch and impacting hundreds of millions of consumers is possible if you stay focused."
Chris Michael, Co-Founder and Co-CEO of Ozone API, emphasised Bahrain's role in open banking and the potential to expand into open finance. "Bahrain was the first market in the GCC to implement open banking, which is exciting, but it hasn't yet reached its full potential," he said. Michael explained that Ozone API provides a platform that standardises APIs, simplifies connections for fintechs, and offers a low-cost software-as-a-service model. "Open banking allows fintechs to access reliable data, and the value they can generate from that using AI is really exciting," he added.
Alex Lola, CEO of atme, Bahrain's first tokenisation platform, highlighted the event's role in fostering collaboration and innovation. "It's a great opportunity for everyone from the market to meet each other and talk. Sometimes it's better to step out of the daily routine to connect with the market," he said.
Lola discussed atme's recent projects, including tokenising aircraft and launching the first Sharia-compliant token in the GCC, noting that half of their clients are Bahraini and the other half international. On the importance of staying ahead in fintech, he added: "You need to follow the change or you will be changed. Understanding the trends is key, even if you're not leading them."