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Financial technology, or ‘fintech’, describes the use of new and disruptive technology in financial services.

You can apply to Fintech Saudi by sharing your CV to careers@fintechsaudi.com.

Fintech Saudi is an initiative under the Kingdom's Financial Sector Development Program (FSDP), which is part of Saudi Vision 2030. Fintech Saudi is governed by a committee consisting of the Saudi Central Bank (SAMA) and Capital Market Authority (CMA).

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Our
Story

FSD Program
FSD Program

Who Are We?

Fintech Saudi was launched by the Saudi Central Bank in partnership with the Capital Market Authority in April 2018, to act as a catalyst for the development of the financial services technology (fintech) industry in Saudi Arabia. Our ambition is to transform Saudi Arabia into an innovative fintech hub with a thriving and responsible fintech ecosystem.

We seek to achieve this through supporting the development of the infrastructure required for the growth of the fintech industry, building capabilities and talent required by fintech companies, and supporting fintech entrepreneurs at every stage of their development.

We Develop

Supporting the development of the infrastructure required by the fintech industry

We Build Capabilities

Building the skills and knowledge required for the growth of the fintech activity

We Support

Supporting fintech entrepreneurs at every stage of their development

Our Milestones

Here is a Timeline of Fintech Saudi’s Key Milestones

2018

  • Fintech Saudi was launched in April 2018 to support the Fintech ecosystem in Saudi Arabia and address pain-points to advance the Fintech sector Kingdom wide.
  • CMA, Saudi’s Capital Market’s Authority grants their first testing permits for their Fintech Lab.
  • 10 fintech companies started to actively operating in KSA by the end of the year. 7 Fintech companies acquired their testing licenses.

2019

  • Saudi Central Bank launched its first Regulatory Sandbox Cohort (April 2019).
  • Fintech Saudi launches the Kingdom’s first ‘Fintech Access Guide’ to help Fintech Entrepreneurs navigate KSA’s ecosystem.
  • Saudi Payments Company was officially launched to manage all the digital payments infrastructure.
  • 23 fintech companies started to actively operating in KSA by the end of the year. 14 Fintech companies acquired their testing licenses.

2020

  • 60 fintech companies started to actively operating in KSA by the end of the year. 11 Fintech companies acquired their testing licenses.
  • Fintech Saudi launches several programs and resources to support Fintech Entrepreneurs: Fintech Founders Network, Fintech Regulatory Assessment Tool (to help aspiring entrepreneurs determine which licenses they need), Fintech Data & Research Initiative (in partnership with universities for more Fintech Research), and Fintech Jobs Portal.

2021

  • 82 fintech companies started to actively operating in KSA at the half-way through 2021.
  • Saudi Payments launches an Instant Payment System (sarie).
  • SAMA launches the Open Banking initiative.
  • Fintech Saudi launches the First National Fintech Adoption Survey in Saudi Arabia.

2022

  • Fintech Saudi launches the First Fintech Hub center.

2023

  • Fintech Saudi with the support of the Saudi Central Bank and and the Capital Market Authority, launches Makken, fintech enablement program.

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