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Riyadh, Saudi Arabia \u2013 December 12, 2025 \u2013 Finastra, a global leader in financial services software, brought together regulators, banks, fintechs, and technology leaders at the Saudi Arabia Reimagine Banking Forum in Riyadh to examine how the Kingdom\u2019s financial sector can accelerate innovation while protecting trust, resilience, and customer value under Vision 2030.<\/p>\n
The forum featured perspectives from regional and global experts, including Rudy Kawmi, Vice President for Middle East, Africa and Asia Pacific, Universal Banking at Finastra, along with senior leaders such as Abdulkarim Alsowaygh, Head of Advisory Services at TechArch, and Aymen Belhedi, Digital and Technology Transformation Leader at KPMG Middle East.<\/p>\n
As the conversation turned to how banks can turn ideas into action, Finastra shared perspectives based on its long-standing work with financial institutions in the Kingdom., where it has supported banks since the early nineties through local expertise, established relationships and ongoing investment. The company referenced the role of modern core platforms like Essence, in supporting agility, compliance and customer-centric design. Finastra also noted its more than xx decades of experience in Saudi Arabia, where it continues to support banks through local expertise, established relationships and ongoing investment. Finastra Essence was also recognized as a Leader for the 2nd consecutive time in the Gartner\u00ae Magic Quadrant\u2122 for Retail Core Banking Systems, Europe.,<\/p>\n
Across three panel discussions \u2013 Banking Today: Delivering delight in a hyper competitive world, Banking Tomorrow: Innovation, agility and relevance, and Practical AI: Leveraging AI for profit, safely and securely \u2013 speakers shared practical strategies to balance regulatory expectations, customer needs, and technology adoption.<\/p>\n
Key insights from the Saudi Arabia Reimagine Banking Forum include:<\/p>\n
Innovation anchored in trust and compliance
\nPanelists agreed that innovation in Saudi banking must begin with trust. Cybersecurity, regulatory alignment and security maturity were described as non-negotiables, not afterthoughts. Speakers highlighted the role of the Saudi Central Bank (SAMA) in setting clear guardrails through initiatives such as API-driven banking frameworks and the Regulatory Sandbox, enabling banks and fintechs to experiment in controlled environments while protecting consumers and financial stability.<\/p>\n
From product proliferation to precision, lifestyle-integrated banking
\nThe discussion underlined a shift from launching more products to delivering precise, contextual experiences. Banks in Saudi Arabia are under pressure to evolve from traditional service providers into lifestyle platforms that integrate payments, credit and everyday services into the digital journeys customers already use. With the risk of banking drifting into a utility model, where providers are interchangeable, panelists called on institutions to differentiate through relevance, immediacy and purposeful design, not just scale.<\/p>\n
Ecosystem orchestration as the new competitive edge
\nSpeakers stressed that no institution can innovate in isolation. Banks that act as ecosystem orchestrators, curating fintech, technology and cybersecurity partners while owning the \u201ctrust layer\u201d, are better positioned to deliver new propositions quickly. Internal teams, advisors and partners form a single value chain. The conversation moved beyond capability lists toward how those capabilities are combined, governed and brought to market at speed.<\/p>\n
Data and AI turning trusted information into intelligence
\nData was described as a critical and often underused asset. Panelists highlighted that the real opportunity lies not in collecting more data but in converting trusted data into actionable intelligence. In this context, AI and generative AI can help banks move from reactive service models to proactive, personalized engagement, provided governance keeps pace. With the right tools and controls, small teams can now deliver improvements in productivity and customer experience that previously required much larger workforces.<\/p>\n
Practical, ethical AI with humans firmly in the loop
\nThe AI discussion focused heavily on ethics, explainability and human oversight. Panelists warned against black-box systems in areas such as credit decisions and collections, where AI outcomes directly affect people\u2019s lives. They emphasized the need to identify and address bias in training data and to keep humans accountable for final decisions. AI was positioned as a powerful tool to automate repetitive tasks, assist agents and accelerate analysis, while freeing people to concentrate on higher value work.<\/p>\n
Technology is available, but adoption remains gradual
\nSpeakers noted that while the technology to support next-generation services is already in place, adoption timelines can vary. Some innovations introduced in pilot phases have taken time to progress to full rollout, reflecting the sector\u2019s careful approach to implementation. The discussion highlighted opportunities for continued progress in areas such as real time, transparent cross-border payments and fully digital account opening that reduces the need for in-branch processes.<\/p>\n
Across all sessions, there was a consistent message: Saudi Arabia is setting a high bar for responsible innovation by combining a progressive regulator, a clear national agenda and banks that are re-architecting for trust, speed and inclusion. The future of banking in the Kingdom will belong to institutions that innovate boldly, design for resilience, and earn customer trust\u00a0every\u00a0day.<\/p>\n","protected":false},"excerpt":{"rendered":"
Riyadh, Saudi Arabia \u2013 December 12, 2025 \u2013 Finastra, a global leader in financial services software, brought together regulators, banks, fintechs, and technology leaders at the Saudi Arabia Reimagine Banking Forum in Riyadh to examine how the Kingdom\u2019s financial sector can accelerate innovation while protecting trust, resilience, and customer value under Vision 2030. The forum …<\/p>\n","protected":false},"author":2,"featured_media":125368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-125370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"\n