Saudi Arabia

Banque Saudi Fransi Taps Backbase to Elevate Its Customers’ Digital Experience

Banque Saudi Fransi (BSF) has announced a new partnership with Backbase, an engagement banking platform provider, to transform its digital customer experiences. The bank said in a statement that the Backbase platform will enable a superior customer experience for its

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Amazon Payment Services Appoints Country Head For Strategy and Growth in Saudi Arabia

Amazon Payment Services, a payment service provider operating across the Middle East and North Africa (MENA) region, has announced the appointment of Mona Alsemayen as the Country Head, Strategy and Growth for Amazon Payment Services in Saudi Arabia. Peter George,

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2022, a Breakout Year for Open Banking in Saudi Arabia

In Saudi Arabia, open banking is taking off, driven by a conducive regulatory landscape, increased competition in the financial sector, and rising investors’ interest. A new report by fintech research firm WhiteSight in partnership with homegrown fintech company Mod5r takes

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Saudi Central Bank Permits 3 New Open Banking Solution Provider Through Its Regulatory Sandbox

The Saudi Central Bank (SAMA) announced granting “Bwatech”, “Rabet”, and “Mala’a”, the permit to operate under its Regulatory Sandbox, bringing the total number of its permitted FinTech companies to 35. The announcement came during the Global Entrepreneurship Congress sponsored by

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Saudi Central Bank Licenses 3 New Payment Fintech Companies

The Saudi Central Bank (SAMA) announced the licensing of three new companies specialized in finance and electronic payments, during the Global Entrepreneurship Congress sponsored by His Royal Highness Mohammad bin Salman, the Crown Prince, Deputy Prime Minister and Minister of

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Saudi Arabia: Rising E-Commerce Activity Fuels BNPL Usage

Buy now, pay later (BNPL) arrangements are becoming increasingly popular in Saudi Arabia, a trend that has been fueled by the e-commerce boom and embraced by the country’s youth, tech-savvy population eager to adopt what they feel is a more

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Entrepreneurship Arm of Saudi Aramco to Launch Fintech Accelerator Program

Wa’ed, the entrepreneurship arm of Saudi Aramco, has collaborated with Fintech Saudi as a strategic partner, along with regional seed and early-stage venture capital firm Flat6Labs, to launch a 12-week Fintech Accelerator to expedite the growth and development of promising

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Saudi’s Social Trading Platform Dawul Raises $5 Million in Seed Round

Riyad-based social trading platform Dawul announced last week it has raised $5 million in a seed round led by RAED Ventures with participation from Impact46, Seedra Ventures, Derayah Venture and Sukna Ventures. The deal, which places Dawul on the global

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Arab National Bank to Build Open Hybrid Cloud Capabilities With Red Hat

Saudi Arabia-based Arab National Bank has signed on US-based open source solutions provider Red Hat, Inc., for the latter’s open hybrid cloud technologies. Arab National Bank will be looking to boost its capabilities in digital banking, open finance and customer

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Saudi Arabia Startups See Best Ever Funding Quarter in Q3

Saudi Arabia startups raised US$205 million across 34 deals in Q3, their best ever quarter in terms of funding, according to a new report. VC funding for Saudi Arabia startups grew over 4x in the quarter, compared to the same

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