Quant Data & Analytics partners with Satellogic to revolutionize property tech in KSA

Ahmed Bukhamseen, CEO of Quant Data and Analytics.
Short Url
Updated 28 August 2023
Follow

Quant Data & Analytics partners with Satellogic to revolutionize property tech in KSA

Quant Data and Analytics, a Saudi provider of data and artificial intelligence products and enterprise solutions focused on the real estate and retail sectors, has announced a transformative three-year agreement with Satellogic Inc., a leader in sub-meter resolution Earth observation data collection. This strategic agreement leverages Satellogic’s high-resolution satellite imagery to serve and evolve the ever-expanding property tech landscape across Saudi Arabia and the Gulf region.

Quant’s collaboration with Satellogic will lead to the development of derivative products, transforming and broadening the adoption of data science, AI and SaaS products for real estate and retail. Satellogic’s flexible and scalable business model will support Quant’s Suhail platform, an interactive real estate tool for agencies, developers and clients, and Fruits360’s location intelligence tool, a state-of-the-art tool designed to empower restaurants with insights for geographical expansion and strategic location selection.

Ahmed Bukhamseen, CEO of Quant Data and Analytics, said: “Our collaboration with Satellogic marks a momentous advancement in real estate analytics for our region. The integration of high-resolution satellite imagery with our AI and geospatial technologies elevates our interactive real estate platform Suhail, and location intelligence tool powered by Fruits360, to unprecedented levels. Through utilizing GIS, data analytics and machine learning, we are also looking to support Vision 2030 with a novel location intelligence tool powered by our product, Fruits360. The feature will support the advancement of the retail and hospitality sectors by providing actionable insights into market dynamics, customer behavior, competition and other essential factors that influence expansion decisions. This collaboration resonates with our vision of a data-driven global economy and fulfills our goal to spread, implement and automate data-led solutions.”

Caitlin Kontgis, Satellogic’s senior vice president of commercial and growth, added: “Quant is redefining the future of real estate, creating opportunities for evolving processes such as property valuations and insurance underwriting. They needed an EO data provider capable of delivering high-capacity, high-resolution and frequent revisits at an attainable price. This relationship illustrates the potential of Satellogic’s EO business model.”

The collaboration is timely, coinciding with increased Saudi government investment in infrastructure to stimulate tourism, residential and commercial real estate development. Leveraging Satellogic’s high-resolution EO satellite constellation, the agreement will enable monitoring of rapid urban development and compliance with environmental and zoning regulations, enhancing competitiveness in the high-growth market.

By harnessing the power of satellite imagery, Quant is laying the foundation for a futuristic approach to real estate development, monitoring and decision-making. This collaboration promises to be a game-changer in utilizing big data to make transformative impacts on real estate, retail and beyond.


Emirates NBD launches new branch in KAFD

Updated 05 August 2024
Follow

Emirates NBD launches new branch in KAFD

Emirates NBD, the leading banking group in the Middle East, North Africa, and Turkiye region, has opened a new branch in the King Abdullah Financial District. 

In line with Emirates NBD’s strategic expansion plan, the new branch consolidates the bank’s presence in the Kingdom, extending its diverse range of services to more consumers, communities, and entities across the country. 

KAFD stands as the largest LEED-certified mixed-use business district in the world. As a key driver of Riyadh’s economic ambitions, the district fosters a smart, sustainable environment conducive to innovation, collaboration, and business growth. The new Emirates NBD branch in KAFD is set to contribute to the achievement of the Kingdom’s Vision 2030 goals and drive the transformation of the country’s financial services industry.

The official opening bolsters Emirates NBD’s network, increasing its total number of branches in the Kingdom to 19. 

Aazar Ali Khwaja, group head, International & Group Strategy, Emirates NBD, said: “As the leading banking group in the Middle East, North Africa, and Turkiye region, we are committed to transforming the Saudi financial services sector, leveraging our expansive network, partnerships and innovative offerings to empower consumers in the Kingdom.”


stc Group provides unparalleled gaming experience at ESW

Updated 05 August 2024
Follow

stc Group provides unparalleled gaming experience at ESW

stc Group, an engine of digital transformation, is playing a key role in driving Saudi Arabia to become the world’s most connected and digitalized nation, in line with Vision 2030. Furthermore, the group is supporting the Kingdom to become the premier global hub for gaming and esports.

As an elite and founding partner of the inaugural Esports World Cup, stc Group is delivering seamless connectivity across all competition venues.  

stc Group is a naming partner for three key locations—stc Arena, stc Play Gaming Hall, and stc TV World Cup Studios—offering dynamic and immersive digital and gaming experiences. As part of its commitment to operational excellence, the group is providing a range of services designed to optimize network performance and enhance the gaming experience for gamers and audiences alike.

To ensure an exceptional gaming experience, stc Group established one of the first and largest operating centers dedicated to monitoring the gaming services infrastructure in real time, supported by high resolution 168-megapixel screens for continuous world-class service optimization.

stc Group’s service optimization and tracking capabilities are further enhancing the gaming experience. By monitoring over 25 online games and streaming IP addresses, stc Group guarantees a 100 percent optimal path for connectivity. Sophisticated software conducts forensic analysis on IPs, ensuring precise and efficient management
of network traffic.

 stc Group’s commitment to seamless connectivity includes achieving significant latency reduction across key gaming servers, ensuring a highly responsive and outstanding gaming experience. By optimizing link utilization to maintain less than 70 percent usage during peak times and implementing end-to-end quality of service configurations, stc Group guarantees smooth and uninterrupted gameplay.

The group’s extensive range of services and cutting-edge connectivity solutions are integral to this transformation, aligning with Vision 2030’s goal of establishing the Kingdom as a premier global gaming and esports destination.


PUMA ties up with KSA’s first women’s football club

Updated 04 August 2024
Follow

PUMA ties up with KSA’s first women’s football club

Global sports company PUMA proudly announces a groundbreaking three-year partnership with Eastern Flames FC, Saudi Arabia’s first and pioneering all-women’s football team. This three-year partnership represents PUMA’s commitment to empowering women and advancing football culture in the region.

Founded in 2006 in the Kingdom’s Eastern Province, Eastern Flames FC is where women’s football began in Saudi Arabia and continues to thrive. The club, owned and operated entirely by women, is currently one of ten clubs competing in the Women’s Premier League. As the first official private club for women in the region, Eastern Flames FC embodies the spirit of perseverance, progress, and breaking barriers.

As the official partner of Eastern Flames FC, PUMA will design the team’s athletic gear for home, away, and third kits, reflecting the club’s unique brand identity and cultural impact. 

This partnership underscores PUMA’s mission to push sports culture forward in the region and expand its football portfolio in collaboration with strategic partners who are trailblazers, pioneers, and disruptors.

Maram AlButairi, Eastern Flames chairwoman and CEO, said: “We are thrilled to share that we’ve teamed up with the world-famous sports brand PUMA to take women’s football to new heights. This exciting partnership is all about empowering women in football on a global scale. With PUMA’s incredible 76-year legacy and widespread presence in over 120 countries, it’s a perfect match for our club’s mission to elevate women’s football worldwide.”

Taner Seyis, managing director of PUMA Middle East, commented on the partnership: “We are excited to partner with Eastern Flames FC, Saudi’s trailblazing all-female team that embodies the spirit of perseverance and progress.”


KSA to take center stage in hyper-resilient cybersecurity

Updated 04 August 2024
Follow

KSA to take center stage in hyper-resilient cybersecurity

As Saudi Arabia continues its ambitious transformation under Vision 2030, the ability to adapt, overcome challenges, and thrive in the face of adversity has never been more crucial.

According to estimates from Statista’s Market Insights, the global cost of cybercrime is expected to surge in the next four years, rising from SR34.5 trillion in 2024 to SR51.82 trillion by 2028. 

Cybercrime is defined as the “damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems and reputational harm.” Increasingly cyberattacks have become more sophisticated, frequent, and damaging, targeting critical infrastructure, sensitive data, and organizational operations. Traditional cybersecurity measures, which primarily focus on defense, are no longer sufficient to combat these dynamic threats. 

Organizations are now facing challenges from digital transformation, the rise of interconnected devices, and complex cyberattacks. This has created a critical need for a hyper-resilient cybersecurity approach.

Hyper-resilient cybersecurity refers to the concept of building cyber systems and networks that are hyper-resilient — able not to just withstand and recover from attacks, but to actually grow stronger and more capable of responding to threats. 

With advancements in technologies like AI, IIoT and the hybrid cloud, Saudi Arabia faces new cybersecurity challenges, highlighting the critical need for hyper-resilient cybersecurity measures to protect the nation’s digital infrastructure and economic interests.

Saudi Arabia, through Vision 2030 and various cybersecurity initiatives such as the establishment of the National Cybersecurity Authority, is at the forefront of this movement, enhancing its cybersecurity and digital preparedness to protect its growing digital economy and infrastructure. 

The Kingdom ranked first globally in the Cybersecurity Index and second globally in both the Digital Transformation Index and the Technology Development and Application Index according to the Global Competitiveness Yearbook 2024 report issued by IMD. 

The use of convenient digital platforms such as Absher, Qiwa, Nusuk, and many more, for governmental services are among the factors responsible for the Kingdom’s global recognition on the cyber front. Additionally, Saudi Arabia aims to increase the contribution of its digital economy to 19 percent of its GDP by 2030, up from 5.48 percent in 2021.

“In the face of ever-evolving cyber threats, true resilience requires more than just robust defenses. It demands a proactive, adaptable mindset — one that embraces innovation, anticipates the unexpected, and empowers our people to be the first line of defense. Join us as we explore the frontiers of hyper-resilient cyber, where cybersecurity is not just a safeguard, but a strategic advantage that propels Saudi Arabia’s digital future,” said Samir Omar, chief security strategy adviser/CEO at Virtuport.

Virtuport’s MENA Information Security Conference 2024 emerges as a crucial platform for addressing the evolving cybersecurity landscape. Now in its 12th edition, MENA ISC 2024 will bring together top industry leaders such as Salam, CyberKnight, and Cyber Polygon, visionaries, market innovators and experts to discuss the latest cybersecurity challenges and share groundbreaking solutions.

“MENA ISC plays a pivotal role in Saudi Arabia’s cybersecurity capacity building, serving as a cornerstone for fostering collaboration and innovation among industry leaders. For CyberKnight, this event is an invaluable platform to demonstrate our commitment to enhancing cybersecurity in the region. It allows us to engage with local enterprise and government entities, showcase cutting-edge solutions and contribute to the Kingdom’s Vision 2030 of a secure digital future. Our participation underscores the importance of such gatherings in facilitating knowledge exchange, networking, and the collective strengthening of our cyber defenses, ultimately driving regional cyber resilience forward.” said Avinash Advani, CEO at CyberKnight.


24 Fintech to host govt officials, global finance leaders

Updated 03 August 2024
Follow

24 Fintech to host govt officials, global finance leaders

As a new era of fintech advancement and adoption unfolds across Saudi Arabia, the inaugural edition of 24 Fintech — the country’s new financial services-focused summit and exhibition — will offer a stage to senior government officials and global leaders in the finance sector to address critical topics impacting transformation of the Kingdom’s finance industry.
Taking place from Sept.3-5 at Riyadh Front Exhibition & Conference Center, the landmark debut of 24 Fintech aims to solidify Saudi Arabia’s position as a global fintech leader.
The event will be hosted by the Financial Sector Development Program, Saudi Central Bank, Capital Market Authority, Insurance Authority, and is co-organized by Fintech Saudi and Tahaluf, a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones, and the Events Investment Fund.
With less than six weeks until the debut event, several high-level speakers are confirmed to discuss trending themes influencing the industry.
Mohammed Al-Jadaan, chairman of FSDP, has been confirmed as a speaker at 24 Fintech.
Throughout the three-day summit, attendees will hear from high-ranking government officials, including Mohammed ElKuwaiz, chairman of the Capital Market Authority; Abdulaziz AlBoug, chairman of the Insurance Authority; Eng. Naij Al-Faisal Al-Tamimi, CEO, Insurance Authority; Yazeed Alnafjan, deputy governor of financial innovation at the Saudi Central Bank; Yazeed AlDemaigi, deputy of strategy, research & international affairs, Capital Market Authority; and Nezar AlHaidar, CEO of Fintech Saudi.
Expected to attract over 26,000 attendees, 300 exhibitors, and 200 investors, 24 Fintech will feature 175 hours of expert-led content, positioning itself as one of the world’s leading fintech conferences.
Key topics include governance, risk and policy, cybersecurity, global interoperability, and innovation in payments.
24 Fintech will feature four stages hosting an array of keynotes, panel discussions, and industry announcements exploring investment opportunities, startups, technology, and academia.
The Futures Forum Stage will be a hub for academic and interactive discussions on blue-sky thinking, while the Fintech Fusion Stage will converge investment and innovation, providing a platform for founders and investors to share experiences.
The 24° Trends Stage will explore the latest trends and technologies reshaping finance.
Elsewhere, Startup Zone is a dynamic space for networking, pitching sessions, competitions, and demo showcases that will run parallel to the Investor Program — a venue for unearthing opportunities and making connections with visionary entrepreneurs.
“Fintech Saudi is thrilled to co-organize 24 Fintech, a pivotal event aimed at cementing Saudi Arabia’s position at the forefront of global financial services discussions. 24 Fintech is an important milestone in advancing the Saudi fintech industry and is consistent with our vision to position the Kingdom as a leading global Fintech hub,” said Alhaidar.
A major driving force in Saudi Arabia’s non-oil and digital-first economy, the fintech sector now accounts for nearly 20 percent of all venture investments into the Kingdom, explained Annabelle Mander, senior vice president of Tahaluf.