Saudi fintech Lean Technologies secures $67.5m Series B funding
The new round of funding follows Lean’s $33 million Series A in 2022.
Saudi Arabia
The latest fintech news, resources and expert analysis in Saudi Arabia by the leading intelligence provider for the worldwide fintech community.
ICYMI fintech funding round-up: Brightwave, Mala, UnitPlus, Parachute, and more
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Ziraat Bank KSA in major core banking system upgrade with Temenos and DevisersTech
Ziraat Bank KSA has moved from Temenos’ T24 R17 to the R24 version.
Saudi Awwal Bank partners Singapore’s PayerMax for digital payment enhancement
PayerMax claims to support over 600 different payment methods for digital merchants.
Vision Bank launches digital banking app in Saudi Arabia
The Vision Bank app is currently available to customers on an invite-only basis.
BNPL fintech Tabby buys Saudi digital wallet start-up Tweeq
Following the acquisition, Tweeq will continue to operate as an independent entity.
New digital banking brand launched in Saudi Arabia, NEO
NEO has been launched by Saudi National Bank, with the digital front-end underpinned by Backbase.
New fintech Barq led by former STC Pay CEO launches in Saudi Arabia
Barq claims to have onboarded over 1 million users just three weeks after its debut.
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Citi extends USD Clearing service to Middle East in partnership with Emirates NBD
Emirates NBD plans to extend the service to all its 853 branches across the world.
Arab National Bank in major upgrade of core banking system with Infosys Finacle
The successful upgrade has launched “a new chapter in banking at Arab National Bank”, says CIO Naif Alharbi.
Saudi Arabian paytech Geidea names Abdulrahman Almutairi as new group CTO
Almutairi previously served as CTO at STC Pay for nearly five years.
BML Istisharat gains new core banking system clients in Saudi Arabia and Lebanon
Bank of Jordan, Corporate Private Investment and MedSecurities Investment implement the ICBS core banking platform.
SAMA greenlights beta launch of STC Bank
The approval by the Saudi Central Bank will see the company transition from STC Pay to STC Bank.
Mobile banking app for kids and teens, Cashee, to launch in Saudi Arabia
Cashee will provide a free banking app and a prepaid Visa card, issued by Arab National Bank (ANB).
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Saudi fintech start-up Tameed raises $15m Series A
The firm says it will use the funding to “meet the increasing demand” for its digital lending products.
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BNPL fintech Tabby lands $700m debt facility from JP Morgan
Tabby has also extended its Series D funding round by $50 million to a total of $250 million.
Demystify Podcast: Demystifying Saudi fintech with Naif AbuSaida, founder & CEO of Hakbah
Dave and Dharm welcome Naif AbuSaida, CEO and founder of Hakbah, a Saudi Arabian fintech focused on group savings.
Saudi BNPL fintech Tamara lands $340m Series C funding at $1bn valuation
Tamara says the Series C is “among the largest investments in a fintech company in the region”.
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Saudi business lending marketplace Lendo gears up for IPO with $28m Series B
Lendo has announced it plans to pursue an IPO “within the next few years”.
Saudi BNPL start-up Tamara expands lending capacity to $400m with Goldman Sachs
The company has secured an additional $250 million in debt financing to support its lending operations.
Saudi Awwal Bank taps Mastercard to fight financial crime with AI
The bank is adopting Mastercard’s transaction risk management technology to tackle payment fraud.
BNPL fintech Tabby lands $200m Series D at $1.5bn valuation ahead of planned IPO
Tabby claims it has become the Middle East’s first fintech unicorn ahead of its planned IPO in Saudi Arabia.
Saudi fintech Hala names former Revolut exec Saleem Arshad as CTO
Hala says Arshad’s experience will be “pivotal” to its expansion efforts in the UK and Europe.
Al Rajhi Bank Malaysia CEO Arsalaan Ahmed departs to pursue “personal ambitions” in fintech
Ahmed played a pivotal role in the launch of ARBM’s digital banking offering Rize last year.
New digital bank JB to launch in Saudi Arabia
The new venture is described as a “digital leasing and lending platform”.
Saudi Awwal Bank taps Wise for international money transfers
The bank is leveraging Wise’s technology to deliver “smooth and effective international transfers”.
Banque Saudi Fransi completes payment processing upgrades with TCS
The Saudi bank selected TCS BaNCS to digitise its IT landscape across deposits, lending and payments.
Saudi Arabia’s HyperPay acquires fintech start-up Sanad Cash
HyperPay is aiming to expand its product offerings in order to become an “all-in-one” digital payments platform.
Tarabut Gateway names Tariq Sanad as new CFO
Tarabut Gateway says Sanad excels “particularly in scaling growth start-ups post-Series A”.
Mastercard and Bankiom to launch virtual prepaid cards across the GCC
With the partnership, Mastercard aims to drive digitalisation in the GCC payments landscape.
Saudi Arabia’s D360 Bank taps Thunes to power cross-border payments
With the partnership, D360 mobile app users will be able to transfer funds to Europe, US and the Middle East.
Tarabut Gateway lands $32m in Series A funding
With the new funding, the Dubai-based firm plans to expand its footprint in Saudi Arabia.
Capital Bank taps Finastra for corporate digital banking platform
The corporate digital banking platform unifies trade, supply chain finance, lending and treasury services.
Saudi EXIM Bank goes live on Temenos core
The implementation process and the go-live took place over six months, both firms say.
Qashio taps Alinma Bank to launch operations in Saudi Arabia
According to both firms, the partnership is the first between a bank and a fintech in Saudi Arabia.
Saudi National Bank chairman resigns following Credit Suisse losses
Saudi National Bank was the largest shareholder in Credit Suisse before it was taken over by UBS.
