KnowledgeNet gets SAMA’s nod to offer open banking services

Logo of KnowledgeNet Co.

 

KnowledgeNet Co., which is newly listed on Nomu-Parallel Market, obtained a technical compliance certificate, as per the Saudi Central Bank’s (SAMA) requirements, enabling it to provide open banking services to banks.

 

KnowledgeNet marked the first Saudi and Arab company to obtain such a certificate, according to a Tadawul statement today, June 6.

 

CEO Mohammad Attiya said, under the move, KnowledgeNet will cater to banks and similar financial institutions.

 

This will enable the company to unleash its open banking potential to maximize the ability of banks to increase financial inclusion for various users in the Kingdom.

 

He added that this will also contribute to expansion plans in other sectors seeking to benefit from open banking.

 

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