Open Banking Ecosystem

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Technology & Telecom

Technical infrastructure enabling secure banking-data exchange between banks and licensed firms.

About the Company

This ecosystem aims to enable secure exchange of customers' banking data (with their consent) between banks and licensed fintech companies, enabling new financial products and boosting competition in banking services in the Kingdom.

The project requires unified API infrastructure and strict security standards to protect customer data, and represents a major step-change for the Saudi banking sector in line with global best practices, with strong demand for API development and security services.

15+

participating banks and fintech firms

Unified

API standards applied

2027

target date for full ecosystem rollout

Open bankingAPIsData securityBanking innovation

Qualification Requirements

Vendor qualification conditions

Banking API development services
Building secure connections between different banking systems.
Cybersecurity services protecting customer data
Securing exchange of sensitive data to the highest standards.
Regulatory-compliance advisory services
Helping banks and firms comply with the new ecosystem's standards.

How It Works

From first file to approval

An orderly process — each step builds on the last and unlocks the next.

Assess company readiness

We review your company's current standing and identify the right entities for its activity before any next step.

Review documentation

We verify your documents are complete and valid against the latest requirements.

Prepare requirements

We prepare each entity's requirements precisely, in line with the latest approved conditions.

Submit the application

We submit the application through each target entity's official portal.

Follow up with the entity

We follow up continuously until every requirement is met.

Obtain approval

We confirm activation and continue managing and renewing your file automatically.

Want to become an approved vendor to Open Banking Ecosystem?

We help you with registration and qualification procedures for this company, from the first file to full approval.