A deep dive into the region, consumer trends, an overview of the fintech landscape, some 'Product White Space' analysis, and the biggest fintech opportunity areas
Dear Jas, you build a colorful canvass of KSA's fintech space awesome. It cleared my thoughts on some of the opportunities I missed but now know the reasons as well as providing home work to align with whitespaces.
Few queries :
1. Reconciliation is always challenge in any region wanted to know more about it's challenges as Recon solutions can be aligned.
2. How is the Credit rating works in SME lending in KSA?
3. With locals prefer saving over loans or credit card usage so, Securities trading can be area where they can invest as I observe 233 scripts are traded at present. What is the scope for outside stock trading company to enter into KSA?
Great questions Hitesh and a slightly delayed response from me:
1. As you said, it's a challenge everywhere and especially in areas with accelerated innovation. SAMA has got as part of its agenda, a push for more regtech solutions which rec tools should be part of so we'll see more regtech focussed fintechs trying to solve this problem and in the sandbox over time. I have seen any uniquely Saudi challenges though.
2. SIMAH is the SAMA backed agency that provides credit scoring in KSA. There are some more modern fintechs CRAs but SIMAH has some transparency on what it uses to create a credit score.
3. A great point and I think the scope is huge. One of the areas I outlined in the article is around wealthtech and the reason it's such a big opportunity is for the reasons outlined and the lack of a) technical connectivity to other markets, b) customer facing digital solutions to enable investment, and c) the acceleration of digital investment platforms like Robinhood, Freetrade and others providing access to a broader market at customers fingertips. The big initial opportunity is in building infrastructure to connect to additional markets and power investment firms digital solutions though. Customer facing digital tools would be 2nd
Insightful read by Jas Shah on Saudi Arabia’s booming fintech landscape. A must-read for anyone interested in the future of finance in the region.
Thank you my friend. If anyone can give feedback on what's happening in the region, it's you!
Wow Jas, this is very in-depth and looks very on the money! I will need to allocate time to read this properly, the main takeaways are fire! 🔥🔥
Thanks buddy. The product whitespace analysis is particularly eye opening if I do say so myself
Dear Jas, you build a colorful canvass of KSA's fintech space awesome. It cleared my thoughts on some of the opportunities I missed but now know the reasons as well as providing home work to align with whitespaces.
Few queries :
1. Reconciliation is always challenge in any region wanted to know more about it's challenges as Recon solutions can be aligned.
2. How is the Credit rating works in SME lending in KSA?
3. With locals prefer saving over loans or credit card usage so, Securities trading can be area where they can invest as I observe 233 scripts are traded at present. What is the scope for outside stock trading company to enter into KSA?
Great questions Hitesh and a slightly delayed response from me:
1. As you said, it's a challenge everywhere and especially in areas with accelerated innovation. SAMA has got as part of its agenda, a push for more regtech solutions which rec tools should be part of so we'll see more regtech focussed fintechs trying to solve this problem and in the sandbox over time. I have seen any uniquely Saudi challenges though.
2. SIMAH is the SAMA backed agency that provides credit scoring in KSA. There are some more modern fintechs CRAs but SIMAH has some transparency on what it uses to create a credit score.
3. A great point and I think the scope is huge. One of the areas I outlined in the article is around wealthtech and the reason it's such a big opportunity is for the reasons outlined and the lack of a) technical connectivity to other markets, b) customer facing digital solutions to enable investment, and c) the acceleration of digital investment platforms like Robinhood, Freetrade and others providing access to a broader market at customers fingertips. The big initial opportunity is in building infrastructure to connect to additional markets and power investment firms digital solutions though. Customer facing digital tools would be 2nd