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KSA Fintech Market is in its growing stage, Driven By accelerated digitalization, Government initiatives, and, High Fintech Adoption: Ken Research

A strong indicator of growth in the fintech market is, growth in certain industry verticals like payments and currency exchange driven by an increase in digital payments in KSA and lending and finance owing to high requirement of funds in market both for personal and business use.

Covid Led Growth: The accelerated digitalization as a result of the COVID-19 pandemic has led to a surge in demand for fintech solutions and subsequent growth in both their market share and enterprise value. In particular, the pandemic has resulted in a growth in demand for easier-to-use financial tools in areas such as buy-now, pay later and investment brokering solutions.

Rising Government Support: Government initiatives including the easing of foreign direct investment regulations and the launch of Saudi Venture Capital Company and Jada Fund of Funds has increased venture capital liquidity in the Kingdom.

Fund Allocation by Investment Community: SAMA’s Regulatory Sandbox and CMA’s FinTech Lab and the release of regulations for a number of different fintech activities has proved the investment community with the confidence and clarity to allocate more funds towards fintech companies. 

Highest Levels of Fintech Adoption: Saudi Arabia has one of the highest levels of fintech adoption in the region. In a recent announcement by SAMA, Saudi Arabia was shown to have the highest adoption of NFC contactless payments in MENA.  As per Fintech Saudi’s National Fintech Adoption Survey, 74% of individuals have had experience in using at least one fintech solution.  With a population of nearly 35m people and a high rate of fintech adoption, fintech companies have a significant runway for growth which contributes to the attraction of the sector for venture capital investors. 

Access to Customers: It is difficult for FinTech’s to gain access to customers and conduct customer testing. Thus, it becomes important to take steps regarding financial literacy and inclusion in the KSA. The launch of Open Banking will in this aspect as it will drive healthy competition in the market allowing firms to compete at much lower prices leading to higher customer satisfaction. As such, these services will be available to a wide range of customers enhancing the financial inclusion in KSA. 

KSA Fintech Market

Analysts at Ken Research in their latest publication- “KSA Fintech Market Outlook to 2027- Driven by the government regulations and initiatives and the growing adoption of technology among the residents by Ken Research provides a comprehensive analysis of the potential of the fintech market in KSA. Rising Investment Activity and Increasing Convergence in The Fintech Industry are expected to contribute to the market growth over the forecast period. KSA Fintech Market is expected to grow at a robust CAGR over the forecasted period 2022P-2027F.

Key Segments Covered

  • Segmentation by service vertical:
  • Payments and Currency Exchange
  • Lending and Finance
  • Business tools
  • Personal financing
  • Private fundraising
  • Capital market
  • Infrastructure
  • Segmentation by Region:
  • Riyadh
  • Khobar
  • Dammam
  • Jeddah
  • Segmentation by Investment Stage:
  • Series A
  • Series B and above
  • Early (Pre-seed, Seed)
  • Undisclosed
  • Segmentation by Company Stage:
  • Testing License
  • Active
  • Idea stage
  • Pre-commercial

Key Target Audience

  • Banks and Financial Institutions
  • Cash Reconciliation Companies
  • Payment Aggregators
  • Payment Network Companies
  • Payment Interface Companies
  • M-Wallet Companies
  • Young First-Generation Entrepreneurs
  • Payment Gateway Companies
  • PoS Terminal Companies
  • M-PoS Terminal Companies

Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MjE0

Time Period Captured in the Report:

  • Historical Period: 2017-2022P
  • Base Year: 2022P
  • Forecast Period: 2023F–2027F

Companies Covered:

Payments and Currency Exchange-

  • stc pay
  • Tweeq
  • CLICK PAY
  • geidea
  • NearPay
  • neo leap
  • Surepay
  • PayTabs
  • FOODICS
  • noon payments
  • CASHIN
  • HYPER PAY

Lending and finances-

  • Tamara
  • tabby
  • tamam
  • FORUS
  • Lendo

Private Fundraising-

  • FALCOM TOJÁ
  • Buthoor
  • OSOOL & BAKHEET FUND
  • Manafa

Business Tools & Information Provision­-

  • Foodics
  • Flexxpay
  • Penny
  • wosul

Payment System Operators –

  • Visa
  • Apple pay
  • American Express
  • Google pay

Key Topics Covered in the Report

  • Executive Summary
  • Global Fintech Market Overview
  • MENA Fintech Market Overview
  • Overview of KSA Fintech Industry (Number of Fintechs and Fintech Ecosystem Enterprise Value, 2022)
  • Market Size of KSA Fintech Market on the basis of GTV and Volume of Transactions, 2022
  • Market Size of different Service Verticals of KSA Fintech Market on the basis of Volume of Transactions, 2022
  • Market Segmentation (by service vertical, by region, by Company Stage and Investment Stage)
  • Industry analysis
  • SWOT Analysis of KSA Fintech Market
  • Growth Drivers of KSA Fintech Market
  • Trends and Developments in KSA Fintech Market
  • Value Chain Analysis
  • Market Segmentations; Competition; Future Market Size, 2027)
  • Competition Landscspe
  • Future Trends and the Way Forward
  • Analyst Recommendations
  • Case study
  • Covid impact
  • Research methodology                                                                                                                     

For more information on the research report, refer to below link:

KSA Fintech Market: Ken Research

Related Reports

Global Fintech Technologies Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

KSA Personal Finance Market Outlook to 2026F

UAE Auto Finance Market Outlook to 2026F

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