Saudi Arabia grants first open banking license to Lean Technologies
The Kingdom of Saudi Arabia has taken a new step towards enhancing digital transformation in the financial sector, as the Saudi Central Bank (SAMA) announced the granting of the first license to the financial technology company "Lean Technologies" to provide open banking services in the Kingdom.
This step is considered an important achievement within the Kingdom's Vision 2030, which aims to develop the financial technology sector and make Saudi Arabia a regional hub for financial innovation. Open banking services allow customers to securely share their financial data with financial technology companies, making it easier for them to access faster and more diverse banking services.
Lean Technologies, which is headquartered in Saudi Arabia, is considered one of the leading companies in this field. Through this license, the company will be able to provide innovative technical solutions that help individuals and companies manage their finances and conduct electronic payment operations in a more efficient and transparent manner.
This decision comes within the framework of the Saudi Central Bank's ongoing efforts to develop the financial sector's infrastructure, encourage fair competition, and support emerging companies. It is expected that this step will contribute to attracting more investments to the Kingdom and enhancing consumer confidence in modern digital services.