Fintech Saudi Arabia & D360 Bank to develop financial technology sector

By Shilpa Annie Joseph, Official Reporter
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Fintech Saudi Arabia & D360 Bank Partnership
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Fintech Saudi Arabia has signed a memorandum of understanding (MoU) with D360 Bank in order to enhance cooperation and create opportunities to improve and facilitate banking services.

This MoU is in line with the goals of the Kingdom’s Vision 2023 and its aspirations to enable financial technology and the development of a digital economy. The memorandum of understanding was signed on the sidelines of the Seamless Saudi Arabia 2023 conference and exhibition, which was held in Riyadh.

D360 Bank, one of the first digital banks in the Kingdom, was established to provide Sharia-compliant banking services, innovate new services that suit various segments of society, and enable individuals, entrepreneurs, and SMEs to access their financial needs easily, quickly, and safely.

Commenting on the signing of the memorandum with Fintech Saudi Arabia, Mr. Mohammed Ghonaim, Acting CEO of D360 Bank, confirmed that the partnership comes as part of the bank’s efforts to develop cutting-edge financial technologies in the Kingdom.

Mr. Ghonaim further noted that it enables both parties to exchange knowledge and experience to provide new products and services that meet customer aspirations and establish a framework for investment and support for emerging financial technology companies.

Mr. Nizar Al-Haider, General Manager of Fintech Saudi Arabia, stressed the importance of the alliance in achieving common goals, exchanging knowledge, supporting the development and adoption of financial technology, and accelerating economic growth.

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