Open Banking in Saudi Arabia

Summary #

tags

Open Banking, Saudi Arabia

refs

URL

Definitions #

AIS #

PIS #

FSDP #

Financial Sector Development Program (FSDP) is part of Saudi Vision 2030.

Announcement on 2 Nov, 2022 #

Guides and regulations were announced.

SAMA Regulatory Sandbox #

1. Permitted Fintects 16 Fintech companies are already permitted.
2. Contacted SAMA open banking
3. application guidance

Permitted Fintech Service providers #

Tarabut Gateway #

Leantech #

Buxfer #

ref

• Open Banking and PSD2 complaint

• Lot experience managing money

  

• Not just budgeting app, it is personal finance assistant/tool

• Providing APIs to give personal users more data and control

• Demo of their app

• In Saudi Arabia their partnership

  

Hakbah #

Other service provider #

• A law firm

Metting with Tarang Digital Payments

Permitted Open Banking Fintechs in KSA #

TODO #

Getting Open Banking information from Naveen, ANB Bank #

1. Interfaces of AIS and PIS APIs implemented in Saudi Arabia
2. Access to ANB open banking APIs through global connect
3. Whether loyalty points of Banks are going be in AIS APIs data
4. Any recommendations or suggestions by SAMA or Saudi open banking about the backend tech stack to use to connect open banking APIs.

SIMAH #

Currently, <2023-01-26 Thu>, this is org provides the credit card score of individual to individual users and corporate.

Ideas #

<2023-02-12 Sun>

• A good from Saeed Al Nahdi is to suggest franchise to create personalized offers including and considering the physical location of the customer.