Spire Tech, a leading Open Banking service provider, expands to Saudi
• The opening of the new Riyadh Office, in partnership with Revival Lab, is aligned with Spire’s expansion plan for the MENA region
Spire, the Bahrain headquartered Open Banking service provider, has expanded to a new office in the Kingdom of Saudi Arabia. Spire was founded in 2020 and graduated from the Central Bank of Bahrain’s regulatory sandbox in 2021 to offer Open Banking services. KSA is the biggest market in the region. It is at the forefront of bringing Open Banking regularity developments to the MENA region. As such, opening a second office in Saudi was a natural move and is in line with Spire’s expansion plan.
Spire provides services like Open Banking compliance, infrastructure, and strategic financial management solutions for banks and small businesses. As well as working on revolutionizing financial data sharing and making money movement simple, secure, and fast. The latest launch from Spire is its customer engagement platform, Spire Ingage, an AI-backed, Open Banking enabled solution that helps banks to offer personalized financial services and insights to their customers to better manage their financial lives.
Syed Aqdas Ahmad, Chief Executive Officer, states: “Open Banking is changing the way we do banking. It’s a global phenomenon; however, the GCC region is gaining a lot of traction, and countries like Bahrain and Saudi Arabia are leading it from the front. The opening of our new office in KSA, the biggest market in the region, is indicative of our long-term ambition and commitment to drive innovation, improve financial inclusion, increase competition, and deliver more financial choices to consumers. We are excited to move into our new office and to continue our strong growth-driven journey in the region”.