KSA Fintech Report

Fintech has been one of the hottest sectors in the Kingdom of Saudi Arabia (KSA), as reflected by deal volume during 2018 and 2019. The increase in deal activity is not only due to innovative financial solutions but is also a result of customer demand for simpler products and services.

Despite the immense demand in the market, the Saudi Fintech industry is still at a nascent stage with regard to infrastructure and regulatory framework. Regulatory authorities SAMA and CMA are working rigorously to provide opportunities for Fintech startups to commercialize and expand. KSA’s Vision 2030, aimed at diversifying the economy from oil to advanced technologies, has increased awareness and the drive for digitalization.