The Saudi Central Bank (SAMA) has granted its first Major Payment Institution license for open banking services to Lean Technologies.
The MENA payments infrastructure firm was previously part of SAMA’s Regulatory Sandbox, signalling a transition from open banking trials to real-world deployment.
According to Finextra, during the sandbox phase, Lean Technologies partnered with regional fintechs including Tabby, Tamasa, and Abdul Latif Jameel.
The company’s objectives align with Saudi Arabia’s Vision 2030 plans to expand open banking infrastructure.
CEO of Lean Technologies, Hisham Al-Falih, said:
“With this license, we have the platform, the partnerships, and the regulatory standing to extend the reach of our infrastructure to thousands of merchants, tens of thousands of SMEs, and millions of end users across the Kingdom.”
In July 2025, Lean Technologies received regulatory approval under the UAE’s Open Finance Framework.
The company raised US$67.5 million in a Series B funding round in 2024.
Featured image credit: Edited by Fintech News UAE, based on image by thanyakij-12 via Freepik
