Saudi-based fintech provider Sarmad has launched thamar, a platform designed to digitalise customer experience for asset management firms.

The solution digitises both customer and employee activities, connects asset managers with distributors, and supports regulatory compliance to streamline operations.

It aims to provide a seamless investor experience while enhancing distribution capabilities.

Aligned with the Financial Sector Development Program under Vision 2030, thamar supports efforts to improve investment literacy and advance a more inclusive, digital economy.

The platform integrates international business practices with modern technology to replace fragmented systems and manual processes with a unified solution tailored to the local market and regulatory requirements.

It connects with government services for eKYC and allows each firm to maintain its own institutional identity rather than adopting a standardised approach.

The platform includes investor-facing investment channels and an internal employee portal.

It also comes pre-integrated with omnibus bank accounts, payment gateways, and KYC compliance services, built on a cloud-native, modular architecture that enables scalability.

Ali Alomran, CEO and Founder of Sarmad, said:

“thamar is the first platform of its kind in the Middle East. Built hand in hand with Saudi asset managers, thamar simplifies operations, strengthens compliance, and opens new growth opportunities by connecting asset managers with investors and distributors.”

Already adopted by leading institutions, thamar functions as a central system of record for portfolios, transactions, client documents, and accounting, providing organisations with visibility across their operations.

Future developments include expanded integrations with distributors, robo-advisors, banks, and government services, as well as the introduction of generative AI-powered tools.

Featured image credit: Sarmad