Fintech Saudi is a catalyst for the development of the financial services technology industry in Saudi Arabia. They aim to transform the Kingdom into an innovative fintech hub with a thriving ecosystem driven by local and international stakeholders.Fintech Saudi have recently released The Fintech Access Guide (version 2.0) to support fintech entrepreneurs at every stage of their development. It has been updated from version 1.1 to reflect the development of the fintech industry in order to continue supporting these entrepreneurs in moving forward.
They play a role in supporting local and international fintechs in areas such as navigating the regulations, developing their fintech solution, or entering the Saudi market.
"Our aim is to support the agenda of regulators, government entities, and entrepreneurs with respect to the Kingdom’s Vision 2030. We see ourselves as an advocate for fintech companies to support their agenda with regulators and government entities and we hope that this is reflected in the Fintech Access Guide. Since the launch of Fintech Saudi, we are pleased to have seen the fintech industry in Saudi Arabia advance forward." says the Fintech Saudi team.
The Fintech Access Guide includes:
- Part 1: Regulation Clarity for Conducting Fintech Activities in Saudi Arabia
- Part 2: Framework for Local Entrepreneurs to Launch a Fintech Idea
- Part 3: Options for International Fintechs Interested in Entering the Saudi Market
Version 2.0 includes everything from version 1.1 and provides a more detailed overview of the regulatory environment and a more detailed framework for local entrepreneurs that want to launch a fintech idea.
The goal of the Fintech Access Guide is to support fintech companies' enquiries to initiate their fintech in Saudi. As the market continues to develop, the Fintech Access Guide will be developed to support the industry.
Fintech continues to grow exponentially in Saudi Arabia, with the Kingdom's market expected to reach transaction values of over USD 33 billion by 2023! Access more trends and data in the recently launched Fintech Saudi Annual Report 2019-2020.