Middle East

Saudi Arabia’s banking sector is transforming with the rise of digital-only banks like D360, Vision Bank, and STC Bank. Driven by consumer demand for convenience and personalisation, the country is advancing fintech innovation through regulatory reforms and a growing fintech ecosystem.

The National Bank of Fujairah partners with Intellect Global Transaction Banking for cloud integration, leveraging Microsoft Azure. Ajman Bank collaborates with Magnati to offer Sharia-compliant embedded finance for SMEs, enhancing customer experience, as UAE banks invest in tech-driven innovation.

The MENA region is embracing fintech innovations to redefine its banking sector. With initiatives driving digitalisation, cashless payments, and blockchain solutions, countries like the UAE are leading efforts to establish the region as a global fintech hub.

Saudi Arabia's banking sector is undergoing a radical transformation driven by AI and fintech. With advances in compliance, fraud detection, and customer service. AI-powered platforms are enhancing efficiency, mitigating risks, and supporting Saudi Arabia's Vision 2030 goals.

A strategic investment corridor is emerging between Hong Kong, Saudi Arabia, and broader Middle Eastern and Asian markets. This collaboration aims to strengthen financial ties, support cross-border trade, and drive economic diversification through joint ventures, ETFs, and dual listings.

The global wealth management sector is transforming through digital innovation and ESG integration, with the Middle East emerging as a key player. This shift enhances sustainability, accessibility, and gamification, positioning the region to lead in inclusive and transparent financial practices.

The Central Bank of the UAE has introduced the Open Finance Regulation, mandating all supervised financial institutions to participate in the open finance framework. This new regulation aims to enhance consumer experience, enable seamless data sharing, and drive innovation in the financial sector.

In the dynamic Middle East landscape, open banking emerges as a transformative force driven by digitalisation and a young, tech-savvy population. Seamless data sharing and collaboration promises innovation, efficiency, and financial inclusion.