Saudi Credit Bureau (SIMAH) has entered into an agreement with Alhamrani Universal Company through its fintech aram, Ateon to set up the fintech solution for its B-2-C consumers . With the launch of the new solution, consumers will have the option to seamlessly and securely access SIMAH’s B-2-C mobile Apps using biometrics, without the need to enter conventional login methods.
Present at the signing ceremony were Mr. Swaied Alzahrani, CEO, Saudi Credit Bureau (SIMAH); Mr. Tariq Abdat, CEO of Alhamrani Universal, and other key members of the management from both organizations.
Mr. Swaied Alzahrani said on the occasion that the agreement aims at supporting the development of the fintech industry, raising growth of Fintech entrepreneurship and enhancing SMEs in Saudi Arabia in line with Saudi Vision 2030. “Our strategic relationship with Ateon comes to ease and provide more customized tools for individual consumers , contribute to diversifying the local economy, and creating new solutions throughout our robust database as the pioneer credit bureau with more than 15 year in the market and 342 members who provide all positive and negative information ” added Alzahrani.
Alhamrani Universal’s CEO, Mr. Tariq Abdat also expressed his views on the occasion. “We are excited and honored to be SIMAH’s solution providing partner for the strategic project. SIMAH enjoys a strategic position as one of the most trusted providers for secure information exchange to the financial , banking and non-banking financial sector in the Kingdom; therefore, we hope to leverage this milestone as an advantage and work even closer with SIMAH to offer innovative and scalable solutions to building a long-term and mutually beneficial business relationship”, he said.
Founded in 2002 and started operation in 2004, Saudi Credit Bureau (SIMAH) is the first credit bureau in Saudi Arabia supervised , regulated and licensed by Saudi Arabian Monetary Authority (SAMA) to provide both consumer and commercial world class products and services. Innovativity of SIMAH stems from its robust ability to meet stakeholders’ needs in both government and private sectors. SIMAH’s marketing concept is FINDATA while more than 342 key data providers contribute big data to SIMATI & SIMAT ( SIMAH consumer & commercial reporting systems) . More than 104 million credit reports were issued by SIMAH since 2004 till end of 2019 while total number of credit instruments in 2019 was more than 63 million. Total number of consumers reports stored in SIMAH database is more than 17 million which explains Saudi Arabia Depth of Credit Information Index being 8 out of 8 in 2020.
For more information, you may contact :
Adel Altwaijri, Chief Communications & Marketing Officer
Source: SIMAH Press Release