Arab National Bank (ANB) Launches Fintech Accelerator Program to Boost Growth of Emerging Fintech Companies

• ANB launches its first fintech accelerator in partnership with global VC firm Plug and Play, targeting early-stage fintech startups in Saudi Arabia.

• Selected startups receive investment, mentorship, and global expansion opportunities through the dedicated “Goal Program.”

• The program aligns with Saudi Vision 2030, supporting the Financial Sector Development Program to position Saudi Arabia as a global fintech hub.

The Arab National Bank (ANB), as part of its ongoing efforts to promote the fintech sector in the Kingdom, has launched the first edition of its fintech business accelerator program in partnership with Plug and Play. Plug and Play is a leading global company and the largest early-stage investor in startups operating in the financial technology sector.

The program aims to accelerate the growth of promising fintech startups and entrepreneurs in the Kingdom by offering a diverse range of expertise and benefits on how to manage and scale their businesses. Participants will have the opportunity to secure investment for their projects, enhancing their ability to develop and expand their financial technology solutions

The  top performing company in the program will have the chance to expand further into global markets, track the development stages of its business, and connect with a wide network of partners in the tech and investment sectors through a dedicated program named the “Goal Program.”  

Omar Al-Aqeel, CEO of ANB Digital Office, noted that the launch of the fintech  accelerator program under the ANB Innovate umbrella will contribute to empowering and inspiring innovation among fintech startups. The bank will provide support and advice to entrepreneurs in this sector, leveraging its technologies, expertise, and human resources as one of the leading enablers of fintechs in the Kingdom and the region. This aligns with the objectives of the Financial Sector Development Program, which is part of Saudi Arabia’s Vision 2030.

From his part, a representative from Plug and Play expressed his appreciation in the partnership with ANB, recognizing it as one of the most prominent and advanced financial institutions in the Kingdom’s fintech ecosystem, contributing significantly to supporting this vital sector, which is a priority under Vision 2030. He emphasized that the program’s goal is to offer opportunities to discover the latest innovations in the fintech sector for entrepreneurs and startups, thereby enhancing their potential and capabilities for business growth and achieving their objectives.

Furthermore, the Financial Sector Development Program, launched in 2018, is one of the leading executive projects of Vision 2030. It aims to support fintech startups in partnership with financial institutions, aligning with global developments to create a more innovative and advanced financial system. This supports entrepreneurship and private sector opportunities, striving to make the Kingdom a global hub for fintech companies and transforming the Saudi fintech ecosystem into a powerhouse for economic growth and diversification.