The Saudi Arabia fintech market size was valued at USD 45.38 Billion in 2025. The industry is expected to grow at a CAGR of 13.70% during the forecast period of 2026-2035 to reach a value of USD 163.86 Billion by 2035. The market is undergoing rapid growth through strategic consolidation, as established payments and financial players are acquiring niche startups to deepen their offerings for small and medium size enterprises (SMEs) and merchants.
The SME segment remains significantly underserved in terms of access to credit, payments, and finance automation, thus becoming a strategic battleground for the expansion of the Saudi Arabia fintech market. To close these gaps, leading players are actively investing in corporate and spend-management capabilities to both capture transaction volumes and secure high-value business customers. For instance, in July 2023, HyperPay purchased Sanad Cash, a Saudi spend-management fintech, to broaden its offering in expense management and corporate payments. This merging is an indication of a broader market effort where the range of the product has become the main competitive differentiator rather than the price alone.
By linking corporate cards, digital wallets, expense tracking, and embedded finance, market participants are turning themselves into full-stack financial platforms. They are innovating solutions that are capable of handling all the needs of a business, not just payments processors. As M&A keeps on adjusting to SME-centric demand, bundled financial services will likely become the main factor driving growth in the Saudi fintech market.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
13.7%
Value in USD Billion
2026-2035
*this image is indicative*
Authorities in kingdom have progressively dismantled regulatory barriers with a view to providing more room for fintech players to test and advance their services in the regulated environment of the Saudi Arabia fintech market. They are lessening the upfront regulatory burden and creating more possibilities for market players to join this segment. One such instance can be seen when SAMA allowed a total of four fintech startups comprising open-banking, P2P-lending and MSME-factoring firms to join its Regulatory Sandbox in February 2025. By giving access to such a sandbox, SAMA supports the experimentation that takes place in payments, lending, and SME finance, which in turn results in the broadening of the funnel for new fintech offerings.
The telecom wallet products are making use of their telecom parentage to quickly convert their existing users into fully regulated digital banks in the Saudi Arabia market. This opens opportunity for them to scale very fast and for the broader financial services to be embraced by the masses. In 2025, it was observed that most of the first wave of digital-only banks, spun off from major ecosystem players, have now launched and are rapidly gaining traction across the Kingdom. As a result, the evolution of wallets into full banking platforms is made possible. Hence, access to financial services is significantly broadened, which in turn leads to the uptake of digital finance among consumers and SMEs.
The fintech companies offering “buy now, pay later” (BNPL) service are purchasing licensed digital wallet providers with a view to expanding the full range of financial services which they can offer by combining lending, accounts, cards, and money-management tools. Citing an instance, Tabby took over Saudi digital-wallet firm Tweeq, which was licensed by SAMA, in September 2024, to facilitate Tabby's addition of spending accounts, cards, and digital-wallet services to its main BNPL offering. This merger reflects the Saudi Arabia fintech market’s pivot from single-product fintechs to more comprehensive banking-style platforms.
Large institutional investors and global asset managers are collaborating with financial platforms in the Saudi Arabia fintech market, which, in turn, allows the sector to go beyond mere payments and offer investment, wealth, and alternative financial services to their customers. An instance is the event that took place in October 2024 when Investcorp declared that it was entering into a commercial partnership with Awaed, the first commission-free Saudi trading platform, and as a result, Awaed users were given the opportunity to have access to the Investcorp Saudi Pre-IPO Growth Fund. These partnerships are the sources of capital, credibility, and product variety for fintech offerings. This accelerates the growth momentum of fintech-driven investment services in the Kingdom.
The relocation of their facilities to the Saudi Arabia fintech market is part of the efforts by foreign payment networks to upgrade their infrastructures to provide fast, safe, and law-abiding digital payment services locally, which happens to be the main reason for the rising popularity of fintech. Citing a notable instance, in October 2024, Mastercard inaugurated a local payments-processing infrastructure in Saudi Arabia, thus making easy and under-the-local-regulation payment of both e-commerce and other domestic transactions feasible. Such an investment acts as a catalyst to not only the backbone of the digital-payments ecosystem but also to reliable rails for fintechs, e-commerce players, and consumers across the Kingdom by providing the required infrastructure.
The EMR’s report titled “Saudi Arabia Fintech Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Mode
Key Insights: Financial service providers in Saudi Arabia fintech market are incorporating cloud and on-premises/hybrid deployments to different extents in order to maintain a balance between innovation, scalability, and regulatory compliance. The introduction of cloud platforms is leading to very fast product launches and analytics-driven services. For example, the first cloud-based market analytics platform in the Kingdom for institutional investors is expected to be launched in 2025. At the same time, banks are preserving hybrid architectures, which combine on-site infrastructure with cloud services, to ensure the security of their data and the continuity of their legacy systems. In sum, these deployment strategies are facilitating quick innovation while, at the same time, providing stability, compliance, and scalability across Saudi Arabia’s fintech ecosystem.
Market Breakup by Technology
Key Insights: The Saudi fintech market scope comprises several advanced technology solutions to bring about innovation and efficiency at a faster pace. One such technology is Application Programming Interface (API) layers, which allow easy connection between banks and fintechs and thus reduce the time needed for the launch of a new product. Artificial Intelligence (AI) is utilized for personalization, risk scoring, and operational automation. Meanwhile, blockchain, robotic process automation (RPA), and data analytics are helping promote secure payments, back-office automation, and generation of customer insights. As an illustration, in July 2025, Jeel, the digital innovation arm of Riyad Bank, entered into a partnership with zypl.ai to incorporate synthetic data and AI-powered risk analytics in their platform. This will allow them to detect fraud in real time and come up with credit scores that are more accurate.
Market Breakup by Application
Key Insights: The Saudi fintech market caters to a wide range of applications, including banking, trading, insurance, taxation, and other financial services. For instance, within the trading sector, Awaed initiated in February 2025 commission-free stock trading in the Saudi market, thus making equity investment easy and affordable for retail users and, as a result, increasing market participation. On the other hand, banking platforms are upgrading themselves by going for digital-first services, payments, and lending apps which are the main drivers of financial inclusion. Although insurance and taxation fintech initiatives are still at an early stage, they are slowly gaining traction as the regulatory frameworks become more stringent. Besides, ‘others’ which includes payments, remittances, treasury tech, are still progressing well under the national digital economy programs.
By deployment type, cloud category gains significant momentum
Cloud infrastructure uptake in Saudi Arabia is rising with global hyperscalers expanding their local capacity. Most firms operating in the Saudi Arabia fintech market landscape offer solutions that can be fully hosted on the cloud without the need to mix it with old on-premises systems. To illustrate, Oracle inaugurated its second public cloud region in Riyadh with a USD 1.5 billion investment in August 2024. This expansion provided ultra-fast, local/cloud data sovereignty services to the enterprises with a wide range of solutions, such as data analytics, AI, and disaster recovery, which is making fully cloud-based deployment a feasible and exciting choice for new fintech and data-driven applications, as well as for scalable digital services in banking, payments, and enterprise verticals.
On-premises deployments continue to record steady adoption in the Saudi Arabia fintech market, as many banks and fintechs are combining on-premises infrastructure with cloud capabilities. Their main purpose is to cohere with requirements from regulators and account for compliance and control while still reaping the benefits of agility and scalability. Alinma Bank, for example, collaborated with IBM in February 2025 to create a new API platform employing hybrid cloud and AI technologies while keeping the core banking systems on site. The modern APIs for fintech and SME integration that are exposed in this way make it feasible for old systems to be secure and compliant. At the same time, cloud-backed services support fintech-friendly initiatives, and thus, a pragmatic balance between stability and innovation is achieved in the financial infrastructure of the Kingdom.
By technology, Application Programming Interface (API) maintains noteworthy market interest
Application Programming Interface (API) platforms are witnessing high demand in the Saudi Arabia fintech market owing to the widespread deployment of hybrid cloud or cloud native back ends, banks, fintechs, and SMEs in Saudi Arabia are turning to these new channels of integration and product launching to gain speed and efficiency. NayaOne, for instance, collaborated with AstroLabs in June 2025 in order to provide the first completely Saudi-hosted fintech platform as a result. Local institutions were given modular environments through it, where they could rapidly build and test services. This kind of platform shortens lead times from months to only a few weeks, decreasing the setup costs and simultaneously providing the new fintech entrants the opportunity to scale up their operations.
Artificial Intelligence (AI) gaining notable traction in the Saudi Arabia fintech market growth used for smarter risk scoring, credit assessment, and lending decisions, most of all for SMEs, in a way that helps to open the financial market to more people and at the same time increase the operational efficiency. As an illustration of that, in November 2025, Abwab.ai joined forces with Arab National Bank (ANB) in order to use AI credit intelligence in the acceleration of SME financing in Saudi Arabia. The collaboration offers enables fast and accurate loan decisions and reduces the friction side of the credit application process. It also helps close gap in the underserved segments by providing access to finance across the Kingdom.
By application, banking & payments category amass substantial revenue
The banking and payments application accounts for a substantial share of the Saudi Arabia fintech market. Digital banking is breaking the traditional consumer and business money management in Saudi Arabia by introducing solely digital banks that are given licences and partnerships between fintechs and banks. This, in turn, drives mass adoption. For instance, in 2025, the digital-only banks, such as STC Bank, Vision Bank, and D360 Bank, were able to launch complete banking services that included accounts, payment cards, transfers, and business banking, and thus, customers were onboarded very quickly owing to the simplified digital-first services.
The insurance sector contributes significantly to the Saudi Arabia fintech market revenue via digital innovations through InsurTech platforms that mainly focus on the customers of the auto and leasing segments. To cite an instance, in August 2024, the subsidiary of Rasan Information Technology Company, Tameeni, received approval from the national insurance authority to directly offer comprehensive insurance for leased vehicles, thus, fully digitalizing the process which was broker-mediated earlier. The move is boosting insurance purchase by consumers and commercial fleets as simplifies the process, reduce the prices, and broaden the insurance penetration.
Major Saudi Arabia fintech market players are in line with the national growth agenda of the country. They are utilizing the regulatory framework and market demand to grow in a very speedy manner. To serve both retail users and SMEs, they are coming up with digital wallets and neobanks as well as payment platforms. Many firms are developing ‘all-in-one; financial offerings which combine payments, banking, lending, and expense management, instead of going for the limited point solutions. Such a move by these companies to diversify their product line is due to increased smartphone usage, rapid penetration of e-commerce, and consumer preference for cashless, on-the-go financial services.
The cooperation with regulators and institutions, however, is at the core of their activities as well. Many fintech companies in Saudi Arabia participate in regulatory sandboxes, adhere to the new open-banking and payment-service regulations, and become domestic banking infrastructure compatible. Ongoing tie-ups between banking-fintech, VC/backing, and partnerships with global network providers open significant growth opportunities in the Saudi Arabia fintech market. This combined strategy of innovation and compliance leads to trust-building and customer base expansion.
Raqamyah is a peer-to-peer lending and crowdfunding platform regulated by SAMA, established in 2017 and located in Riyadh, that connects SMEs with investors who are looking for Sharia-compliant financing. The company's main emphasis is on providing small businesses with quicker access to capital through a safe and regulated digital funding model. By expanding the investment participation throughout the Kingdom, the company's platform is still a major contributor to the development of Saudi Arabia's SME financing ecosystem.
Sure Global Tech, established in 2004 and situated in Riyadh, is a top-tier IT solutions company that provides software development, infrastructure, and managed services in the Saudi Arabia fintech market. It also ventures into fintech by launching digital payment-focused startups. The enterprise takes advantage of its solid technological base to help the financial institutions in improving their digital service delivery. The company's move to fintech is in line with the overall digitalization and modernization of the financial sector in Saudi Arabia.
SkyBand, established in 1994 and located in Riyadh, is a completely Saudi-owned technology company whose involvement in fintech reports points to the payments as well as the technology infrastructure for the financial services sector. As a company that has been engaged in digital connectivity for many years, it has the core capabilities to facilitate the development of fintech in the Kingdom.
Nakhla Information Systems Technology Company was established in 2020 and is based in Riyadh, Saudi Arabia. The company operates as Tamara Finance Company, a leading provider of "Buy Now, Pay Later" (BNPL) services. The company offers a service that allows users to divide their purchases into a certain number of instalments without any interest, both for online and physical store purchases, thus making payments more comfortable and giving easier access to them.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players in the market include Salfa, Saudi Digital Payment Company, HyperPay Inc., PayTabs Group, and Halalah Trading Company, among others.
Explore the latest trends shaping the Saudi Arabia Fintech Market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Download a free sample report or contact our team for customized consultation on Saudi Arabia fintech market trends 2026.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the Saudi Arabia fintech market reached an approximate value of USD 45.38 Billion.
The market is projected to grow at a CAGR of 13.70% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about USD 163.86 Billion by 2035.
Key strategies driving the market include expanding digital payments, BNPL, and neobanking offerings, forming partnerships with banks and telcos, leveraging regulatory sandboxes, and targeting both retail and SME segments.
The key trends aiding the market are the surging demand for enhanced convenience and accessibility among consumers and technological advancements and innovations.
The major applications of fintech are banking, trading, taxation, and insurance, among others.
The significant deployment modes of fintech are on-premises and cloud.
The key players in the market include Raqamyah Crowdfunding, Sure Global Tech, Salfa, SkyBand, Nakhla Information Systems Technology Company (Tamara), Saudi Digital Payment Company, HyperPay Inc., PayTabs Group, Halalah Trading Company, and others.
Major challenges that the Saudi Arabia fintech market faces include regulatory compliance, cybersecurity risks, limited consumer awareness, intense competition, and infrastructure or data-residency constraints.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Deployment Mode |
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| Breakup by Technology |
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| Breakup by Application |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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