In a defining moment for the Kingdom’s financial infrastructure, Lean Technologies has become the first company granted a Major Payment Institution license by the Saudi Central Bank (SAMA) to provide Open Banking services.
This inaugural license marks a critical inflection point for the Saudi financial sector, signaling that Open Banking has officially graduated from the testing phase of SAMA’s re...
This development signifies a critical inflection point for the Saudi financial sector, as Open Banking graduates from SAMA's regulatory sandbox into a fully licensed commercial activity. The success of Lean Technologies in the sandbox demonstrates the potential for Open Banking to revolutionize financial services in the Kingdom by enabling enhanced KYC, improved risk assessment models, and data-driven products across various sectors. One of the most significant impacts is broadening financial ac...