Saudi Arabia
Saudi Arabia: Fintech Momentum to Continue in 2023 Driven by Open Banking and Digital Banking
In Saudi Arabia, the fintech industry has risen significantly over the past year, a growth that’s evidenced by accelerated new business creation and soaring investment activity. In 2023, the momentum is expected to continue, building on new regulations, supportive initiatives
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Ta3meed Selects Moneythor’s Loyalty Solution for Its Purchase Order Financing Platform
Saudi purchase order financing platform Ta3meed has selected Moneythor’s personal finance management and loyalty solutions to enhance its platform with loyalty features. Under the partnership, Moneythor will provide Ta3meed’s loyalty programme with data-driven personalisation capabilities to strengthen its digital engagement
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Canada’s Salt Edge Expands Its Open Banking Offering to Saudi Arabia
Canadian open banking solutions provider Salt Edge is expanding to Saudi Arabia to enable financial institutions to share their transactional data, initiate payments, and meet compliance requirements. The company hopes to help Saudi banks comply with SAMA’s new open banking
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Report Details 11 Fintech Regulatory Sandboxes in MENA in 2022
The MENA Fintech Association’s (MFTA) Open Finance Working Group has published a new report on the rise of open banking and embedded finance in the Middle East and North Africa. The report found that regulators in the region have been
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Saudi Arabia’s Fintech Industry Saw US$400M in Investments in the Past Year
Saudi Arabia’s fintech industry has continued to grow at a rapid pace in the last 12 months according to the recently published Fintech Saudi Annual Report 2021/2022. According to the report, the number of active fintech companies in Saudi Arabia
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Saudi Arabia Issues the Open Banking Framework
Saudi Arabia’s central bank “SAMA” announced recently the issuance of the Open Banking Framework as one of the key outputs of the Open Banking Program, which includes a comprehensive set of legislation, regulatory guidelines and technical standards based on international
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Top 8 MENA Fintech Funding Rounds With Corporate VC Investment in H1 2022
Corporate venture capital (CVC) deals declined on the whole in terms of number and volume in the first half of 2022, though the average deal size increased to US$35 million in the second quarter of the year. This is according
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Five FS Launches in the UAE and Saudi Arabia After Closing US$3.5M Seed Round
Dubai-based financial services platform Five FS has launched in the UAE and Saudi Arabia, and raised US$3.5 million in seed funding led by Romanian vc firm Zeyshare Ventures at a US$30 million valuation. Five FS helps users get better offers
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6 Middle East Fintech Startups on CB Insights’ Fintech 250 Most Promising List
Six fintech startups from the Middle East made this year’s Fintech 250, CB Insights’ annual list of the 250 most promising private fintech companies in the world. The 250 winners were selected from a pool of over 12,500 eligible private
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Saudi Central Bank Adds 4 Open Banking Startups to Its Regulatory Sandbox
The Saudi Central Bank (SAMA) has added four open banking startups to its regulatory sandbox, bringing the number of companies currently operating under the sandbox to 27. 42 companies have been granted permits to operate under the regulatory sandbox to
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