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Saudi Arabia

Mastercard Launches Cyber Resilience Centre in Riyadh

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Mastercard has launched its Cyber Resilience Centre in Riyadh, an initiative aimed at fostering collaboration within the financial sector to strengthen the Kingdom’s commerce and payment security framework. This marks Mastercard’s first such initiative in the Middle East, extending its network of cyber resilience centres already established in Europe and the United States. Riyad Bank […]

The post Mastercard Launches Cyber Resilience Centre in Riyadh appeared first on Fintechnews Middle East.

Egypt’s Thndr Raises $15.7M to Expand Investment Platform in MENA

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Thndr, a Cairo-based digital investment platform, has raised US$15.7 million in new funding to support its regional expansion across the Middle East and North Africa. The round was led by Prosus Ventures, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, as well as a major US university endowment. This […]

The post Egypt’s Thndr Raises $15.7M to Expand Investment Platform in MENA appeared first on Fintechnews Middle East.

Saudi Arabia Launches HUMAIN to Lead AI Development

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Saudi Arabia has launched HUMAIN, a new company owned by the Public Investment Fund (PIF), which will operate and invest across the AI value chain as a unified operating company. HUMAIN will provide a broad range of AI services, products, and tools, including next-generation data centres, AI infrastructure and cloud capabilities, and advanced AI models […]

The post Saudi Arabia Launches HUMAIN to Lead AI Development appeared first on Fintechnews Middle East.

Banque Saudi Fransi Launches Next-Gen Digital Banking Platform with Backbase

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Backbase, a global provider of AI-driven banking technology, has announced the launch of Banque Saudi Fransi’s (BSF) new digital banking platform. The platform, now available via BSF’s mobile and online channels, marks a significant stage in the bank’s ongoing digital transformation efforts. The updated ecosystem supports BSF’s objective of advancing its digital banking capabilities, introducing […]

The post Banque Saudi Fransi Launches Next-Gen Digital Banking Platform with Backbase appeared first on Fintechnews Middle East.

UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus

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Venture capital (VC) investment in the Middle East and North Africa (MENA) continues to rebound this year, driven by a rise in smaller funding rounds, strong investor focus on Saudi Arabia and the United Arab Emirates (UAE), and sustained support for fintech. According to new data from Magnitt, a financial data platform focused on emerging […]

The post UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus appeared first on Fintechnews Middle East.

Saudi Central Bank Licenses Nayla Finance for Microfinance Operations

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The Saudi Central Bank (SAMA) has granted a license to Nayla Finance to operate in microfinance activities. According to a press release issued by SAMA, this brings the total number of finance companies licensed by the central bank in Saudi Arabia to 66. The statement highlighted SAMA’s commitment to supporting the finance sector, enhancing the […]

The post Saudi Central Bank Licenses Nayla Finance for Microfinance Operations appeared first on Fintechnews Middle East.

erad Raises $16 Million to Expand SME Financing Platform

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erad, an alternative financing platform for SMEs based in Riyadh, has raised US$16 million in a Pre-Series A funding round. The investment will support the company’s growth and expansion within Saudi Arabia and other regions. The round saw backing from a range of global and regional funds, including YCombinator, Nuwa Capital, Khwarizmi Ventures, Aljazira Capital, […]

The post erad Raises $16 Million to Expand SME Financing Platform appeared first on Fintechnews Middle East.

Saudi Central Bank Grants License to Tamawal for Finance Aggregation

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The Saudi Central Bank (SAMA) licensed Tamawal company to provide finance aggregation services. With Tamawal, six licensed companies now provide finance aggregation services in Saudi Arabia. In a press release issued by the SAMA, this decision reflects SAMA’s endeavor to support the financial sector, increase the efficiency of financial transactions, and promote innovative financial solutions […]

The post Saudi Central Bank Grants License to Tamawal for Finance Aggregation appeared first on Fintechnews Middle East.

Pemo Expands to Saudi Arabia, Partners with neoleap

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Pemo, a Dubai-based spend management platform, has officially entered the Saudi Arabian market. Backed by US$19 million in funding from international investors, the company is introducing its suite of financial tools aimed at businesses of all sizes. These include smart corporate and virtual cards, automated receipt collection, and AI-powered accounting to support expense tracking and […]

The post Pemo Expands to Saudi Arabia, Partners with neoleap appeared first on Fintechnews Middle East.

Standard Chartered Launches Direct Custody Services in Saudi Arabia

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Standard Chartered has expanded its product offering in the Middle East with the launch of direct custody services in Saudi Arabia. The service will be provided through Standard Chartered Capital Saudi Arabia, a wholly owned subsidiary of the group, licensed by the Capital Market Authority of Saudi Arabia. The new service allows clients to safekeep […]

The post Standard Chartered Launches Direct Custody Services in Saudi Arabia appeared first on Fintechnews Middle East.

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