Morocco advances fintech ecosystem through AI and financial inclusion focus

The second edition of Visa FinTech Day brought together government leaders and financial technology experts to explore the transformative potential of artificial intelligence in Morocco's digital finance landscape. Minister of Digital Transition and Administration Reform Amal Al-Falah Al-Saghrouchni joined U.S. Consul General Marissa Scott and Visa's North Africa regional director Leila Sarhan for strategic discussions under the theme "Artificial Intelligence and Financial Inclusion: Fintech Transformation." 

The minister outlined Morocco's comprehensive approach to building an innovative financial ecosystem, highlighting two flagship initiatives: the Morocco FinTech Center and the "Offre Startup Maroc" program. These platforms provide structured support for fintech entrepreneurs through tailored development stages, from ideation to scaling. She also stressed how AI integration presents unprecedented opportunities to expand financial access while maintaining robust consumer protections. 

"Morocco's fintech vision requires collaborative synergy between government, private sector innovators, and academic researchers," stated Al-Saghrouchni during her address. This tripartite approach aims to position Morocco as a regional fintech leader by nurturing homegrown solutions that address local financial inclusion challenges through cutting-edge technology. 

The event showcased Morocco's progress in creating an enabling environment for digital finance, building on recent regulatory reforms and infrastructure investments. Visa's participation underscored growing international interest in Morocco's fintech potential, with the payments giant highlighting opportunities for public-private partnerships in AI-powered financial services. 

Discussions at the forum explored practical applications of machine learning in credit scoring, fraud prevention, and personalized financial services – all critical areas for Morocco's ambition to reduce financial exclusion currently affecting nearly 44% of the adult population. The Minister reiterated her department's commitment to balancing innovation with responsible governance as AI becomes increasingly embedded in financial systems. 

By:  Nana Appiah Acquaye