SAMA licenses two firms to provide open banking services in Saudi Arabia

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  • SAMA licenses New Technology for Software Solutions and Lean Technologies Saudi to provide open banking services
  • The move supports innovation in secure and reliable financial services.

The Saudi Central Bank (SAMA) has granted licenses of New Tech Software ” NTS” and “Lean Technologies” to offer payment services and account information services as part of open banking.

The licenses come after both companies successfully completed the regulatory sandbox phase, in line with SAMA’s efforts to foster innovation in secure and reliable financial services.

This step aims to enhance the efficiency and flexibility of financial transactions, support financial inclusion, and expand access to financial services across the Kingdom.

SAMA also stressed the importance of dealing only with licensed or authorized financial institutions, which can be verified through its official website.

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