The regulator announced that it plans to go live with Open Banking during the first half of 2022. The decision is set to present opportunities for fintech companies and Saudis themselves.
As investors from the kingdom see it, the central bank’s move ‘is set to revolutionise how customers, merchants and financial institutions augment the value they reap from accessing financial data’, as well as ‘open up opportunities beyond financial inclusion by placing greater emphasis on Saudis to become more financially literate and in command of their finances.’
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