- November 2, 2022
- Posted by: Bastion team
- Category: World News
Lean Technologies onboards the personal finance management platform Wally as its first live client in the Kingdom of Saudi Arabia (KSA).
The open banking platform welcomed its first KSA client after both received permits from Saudi Central Bank (SAMA) to carry out their services.
Lean became the first Saudi technical service provider to receive a letter of approval to operate open banking-related services within the Central Bank’s regulatory sandbox in August of this year.
Following this, its UAE client Wally tested with the company to then also receive SAMA’s regulatory approval to officially launch in the Kingdom a month later.
“As we lay down the infrastructure to enable financial innovation in the Kingdom with support from SAMA, we are thrilled to have Wally as one of our first key clients,” said Lean’s CEO and co-founder, Hisham Al-Falih.
“After Lean’s success in the UAE, we will be working with numerous innovative businesses, like Wally, that share our commitment to deliver financial freedom in Saudi Arabia and the broader MENAP region.”
The integration between the two companies will see Wally enabling its Saudi users with accurate transaction categorisation features for tailored financial insights.
Lean hopes that its application of open banking APIs will make this task of delivering innovation and personalised customer experiences all the more efficient.
With a population of over 35 million people…