The Saudi Central Bank (SAMA) has announced that three new startups have joined its regulatory sandbox, bringing the total to 19.
Fintech startups XSquare” and NeotTek have been authorised to launch an Open Banking platform, SAMA said in a press release. Meanwhile, MoneyMoon has been approved to introduce a peer-to-peer lending platform.
Since its inception in 2018, SAMA’s Regulatory Sandbox has allowed 50 fintech companies to test and refine their offerings in a controlled environment.