The Saudi Central Bank (SAMA) has announced the issuance of new “E-Wallets Rules” to strengthen the regulatory framework governing Electronic Money Institutions (EMIs) and foster the development of the financial sector. The guidelines, now formally implemented, underscore SAMA’s commitment to enhancing the stability and security of the electronic money ecosystem, enabling EMIs to operate under […]
PayerMax, a leading global provider of payment solutions, has been named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony hosted on November 12 in Dubai. The award is a testament of PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa, as well […]
RIYADH, Saudi Arabia—500 Global and Sanabil Investments Launch Eighth Cohort of Sanabil Accelerator to Boost MENA Innovation 500 Global, a leading multi-stage venture capital firm, in collaboration with Sanabil Investments—a financial investment company wholly owned by Saudi Arabia’s Public Investment Fund (PIF)—has announced the launch of the eighth cohort of the Sanabil Accelerator. This batch […]
RIYADH – November 11th, 2024 – Lean Technologies, a Riyadh-based fintech infrastructure platform, has secured $67.5 million in Series B funding led by General Catalyst, a renowned Silicon Valley-based venture capital group. The round also saw participation from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, among others. This brings Lean’s total […]
RIYADH, November 6, 2024 — Jeel, the digital innovation arm of Riyad Bank, and audax Financial Technology (audax), a pioneering provider of digital banking technology solutions backed by Standard Chartered, have announced a strategic partnership to transform the digital banking ecosystem in Saudi Arabia. This collaboration brings together Jeel’s forward-looking digital expertise and audax’s established […]
Ziraat Bank KSA, a subsidiary of Turkey’s Ziraat Banking Group, has successfully completed a major upgrade to its core banking system, Upgrading TAFC R17 to the TAFJ R24. This strategic upgrade was executed with the expertise of DevisersTech, a key player in delivering cutting-edge banking solutions in the region. DevisersTech played a pivotal role in […]
Riyadh, Saudi Arabia – October 23, 2024 – Mastercard has announced the launch of a world-class technology infrastructure in Saudi Arabia, designed to enhance the processing of e-commerce transactions locally. This significant development promises to deliver a seamless and secure payment experience for Mastercard partners and consumers, supporting the Kingdom’s digital commerce acceleration. Under the […]
Riyadh, Saudi Arabia – HALA Payments, a fintech leader in SME banking, has been inducted into the prestigious Saudi Unicorns Programme. Founded in 2018 by Esam Alnahdi and Maher Loubieh, HALA is on a mission to empower micro, small, and medium enterprises (MSMEs) and freelancers, enabling them to start, manage, and grow their businesses seamlessly. […]
Riyadh, Saudi Arabia — The Saudi Central Bank (SAMA) has announced the release of updated regulations for debt-based crowdfunding, marking a significant step forward in the Kingdom’s efforts to enhance its financial ecosystem and foster the growth of the FinTech industry. This latest move reflects SAMA’s commitment to regulating debt-based crowdfunding platforms while continuing to […]
Riyadh, Saudi Arabia – In a strategic move to foster the development of national talent in the securities sector, the Financial Academy has signed a Memorandum of Understanding (MoU) with Al Rajhi Capital. This partnership aims to promote continuous professional training, develop leaders and professionals, and qualify fresh graduates in the industry. Through this collaboration, […]