logo
UK's NayaOne Launches Saudi's First Fully Hosted Fintech Infrastructure Platform

UK's NayaOne Launches Saudi's First Fully Hosted Fintech Infrastructure Platform

Fintech News ME6 hours ago

UK-based fintech infrastructure provider NayaOne has launched Saudi Arabia's first fully Saudi-hosted Vendor Delivery Infrastructure (VDI) platform, supported by regional business expansion specialist AstroLabs.
The launch marks NayaOne's official entry into the Saudi market and is designed to support financial institutions, including banks, insurers, and fintechs, in developing, testing, and deploying products within weeks.
Backed by the UK's Department for Business and Trade (DBT), the Saudi-hosted platform connects local institutions to both the domestic technology ecosystem and NayaOne's global network.
The platform provides access to synthetic data assets and modular testing environments aimed at reducing proof-of-concept cycles from months to days, while maintaining compliance and security standards.
NayaOne, which recently partnered with the UK's Financial Conduct Authority (FCA) and Nvidia to provide infrastructure for a new AI sandbox, is now expanding its presence in the Gulf.
The company sees this development as a key milestone in strengthening UK-Saudi ties in fintech.
'Hosting our platform inside the Kingdom removes data-sovereignty friction and lets institutions move from idea to execution in weeks,'
said Karan Jain, NayaOne's Founder and CEO.
'We are grateful to have flagship clients, partners like AstroLabs, support from the KSA ecosystem, and encouragement from the UK Government to grow our impact globally. At NayaOne, we look forward to helping other UK businesses who are interested in operating in KSA.'
Several Saudi financial institutions and fintech firms are already using the sandbox to test applications in areas such as embedded finance, SME lending, cybersecurity, remittances, and AI.
Additional participants are expected to join, further embedding the VDI platform as part of the country's financial innovation infrastructure.
UK Minister for Investment Baroness Gustafsson CBE said:
'The UK is home to some of the best tech businesses in the world, so I'm delighted that NayaOne will help boost financial innovation in KSA, reflecting the strength of UK-Saudi collaboration in digital and financial innovation. Our upcoming modern Industrial Strategy will be international from the start, working and deepening our partnerships with countries like Saudi Arabia to support our economic growth.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE strengthens its position as a hub for advanced manufacturing
UAE strengthens its position as a hub for advanced manufacturing

Gulf Today

time43 minutes ago

  • Gulf Today

UAE strengthens its position as a hub for advanced manufacturing

The Ministry of Investment hosted the signing of a landmark joint venture agreement to establish Tellus Power Mena, a new UAE-based electric vehicle (EV) infrastructure manufacturer and technology partner. The Ministry played a pivotal role in facilitating this greenfield investment, reiterating its commitment to attracting future-enabling investment into the UAE while also supporting and promoting the growth of family businesses in the UAE's markets and strengthening the country's position as a regional hub for advanced manufacturing and sustainable technologies, two priority sectors under the National Investment Strategy. The Ministry of Investment was involved from the deal's inception to its conclusion. Its role included introducing business partners, conducting thorough due diligence, and actively supporting the joint venture negotiations. Furthermore, the ministry provided strategic investment guidance and served as a crucial connector, linking the involved parties with relevant government entities and free zones to ensure a smooth and efficient setup. The agreement was signed at the Ministry's headquarters by Mike Calise, CEO of Tellus Power Globe Holding Limited (Tellus Power), and Marius Ciavola, CEO of Sing Family Enterprise Middle East. The event was witnessed by Hessa Al Ghurair, Acting Assistant Undersecretary of the UAE Ministry of Investment, Hamdan Zakaria Doleh, Chairman of China Innovation Centre in UAE, Yansong Li, Co-Founder of Tellus Power, and Mohammad BinHendi, Group CEO of BinHendi Holding. The newly formed entity brings together BinHendi Holding, a forward-looking Emirati investment company, focused on enabling national capabilities across mobility energy, and industrial innovation; Sing Family Enterprise Group, a China-based family office and entrepreneurial conglomerate; and Tellus Power, an electric vehicle (EV) infrastructure manufacturer headquartered in California with a focus on charging stations, serving clients across the US, Europe, India, China, South America, and the GCC countries. The joint venture will enable the enhancement of local manufacturing of advanced EV charging solutions in the UAE, supporting regional demand and accelerating the adoption of bidirectional vehicle-to-grid technologies across the GCC. Mohammad Abdulrahman Alhawi, Undersecretary at the Ministry of Investment, said, 'This agreement showcases the Ministry of Investment's ongoing dedication to being a strategic partner for international investors, local investors, and family businesses. It directly aligns with our mission to strengthen the UAE's position in attracting future-focused investments that match our national priorities. By supporting partnerships like this, the Ministry continues to drive high-value investment into high-growth sectors, fostering innovation and sustainable economic prosperity.' Mike Calise, Chief Executive Officer of Tellus Power, said, 'We're honoured to join this strategic alliance, which we believe marks a significant milestone in expanding Tellus Power's global footprint. The UAE is rapidly emerging as a hub for clean tech and smart mobility, and we anticipate that this joint venture, supported by the Ministry of Investment, positions us to meet growing demand across the GCC.' Marius Ciavola, Chief Executive Officer of Sing Family Enterprise Middle East, stated, 'Through this collaboration, we aim to make the UAE a centre of excellence for EV charging - not only producing the most advanced chargers in the UAE, but exporting them to the world. We thank the Ministry of Investment for its leadership and continued support. We look forward to working hand-in-hand with Tellus and all of our partners to deliver on this exciting vision.' Mohammad BinHendi, Group Chief Executive Officer of BinHendi Holding, commented, 'This venture reflects our commitment to investing in long-term industrial transformation. By bringing advanced manufacturing to the UAE and broader region, we're building a foundation for scalable innovation in the region's energy and mobility future.' The deal supports the objectives of the National Investment Strategy, which aims to boost foreign direct investment in priority sectors such as renewable energy and advanced manufacturing. It also aligns with the UAE's National Electric Vehicles Policy, which targets a 50 per cent EV adoption rate by 2050. The Ministry of Energy and Infrastructure (MoEI) and Siemens Energy have signed a Memorandum of Understanding to collaborate on driving the future of green and clean energy in the UAE. The two sides will collaborate on mitigating future challenges related to grid infrastructure, enhancing sustainable development and climate action, and exploring potential tech opportunities for robust energy transition and reliable grid operation. WAM

Arab Bank 'Best Bank in the Middle East 2025'
Arab Bank 'Best Bank in the Middle East 2025'

Web Release

timean hour ago

  • Web Release

Arab Bank 'Best Bank in the Middle East 2025'

Arab Bank recently received the 'Best Bank in the Middle East 2025' award from New York-based Global Finance magazine, a testament to its leading position in the regional banking sector. This global recognition was made by the editors of Global Finance after extensive consultations with corporate financial executives, banking consultants, and analysts throughout the world. Global Finance considered several factors when selecting top banks, including asset growth, profitability, geographical coverage, strategic alliances, product innovation, and market expansion endeavors. The evaluation criteria also included the opinions of equity analysts, credit rating analysts, banking consultants, and industry participants. Global Finance Awards cover more than 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Commenting on this recognition, Ms. Randa Sadik, Arab Bank's Chief Executive Officer, said: 'This global recognition affirms the vision and commitments embedded in our refreshed brand identity—where each milestone drives us toward even greater aspirations. It reflects our unwavering commitment to customer-centricity, innovation, and agility, all underpinned by our core philosophy which revolves around building lasting connections. She added: 'This award not only highlights the bank's leading position in the financial sector, locally and regionally, but also reinforces our constant dedication to delivering excellence. As we continue to evolve, we remain focused on empowering our customers and communities to thrive in an increasingly dynamic world.' It is worth mentioning that The Banker Magazine, owned by the Financial Times and based in London, has also named Arab Bank as Bank of the Year in the Middle East for 2024. Arab Bank, headquartered in Amman – Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches. Arab Bank's extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Sydney, Dubai, and Manama.

Asia Cup's Future in Flux as UAE Emerges as Neutral Host Amid India–Pakistan Strain
Asia Cup's Future in Flux as UAE Emerges as Neutral Host Amid India–Pakistan Strain

Arabian Post

time2 hours ago

  • Arabian Post

Asia Cup's Future in Flux as UAE Emerges as Neutral Host Amid India–Pakistan Strain

Asian Cricket Council officials are accelerating preparations to shift the 2025 Asia Cup to the United Arab Emirates, prompted by escalating diplomatic tensions and logistical barriers between India and Pakistan. Originally awarded to India, the tournament, scheduled for September, will adopt a neutral venue in a bid to preserve participation from all eight qualifying teams. Sources within ACC and Pakistan Cricket Board suggest that holding the entire tournament in UAE offers the only viable path forward, ensuring both cricketing integrity and commercial viability. Accruing nearly US$170 million in media rights, the Asia Cup commands considerable financial stakes. With India and Pakistan at the centre of its appeal, organisers are unwilling to jeopardise the competition. Forbes reports confirm that ACC officials have concluded that relocating the tournament is more feasible than attempting a hybrid model involving split venues. The UAE becomes the default choice, replicating approaches from previous tournaments when political dynamics between South Asian nations hindered full-fledged hosting arrangements. PCB figures confirm that Pakistan will participate in the UAE-hosted event, despite its reluctance to travel to India. Pakistan also plans a preparatory tri-series in August in Dubai involving Afghanistan and the UAE team—effectively replacing previously scheduled fixtures and maintaining match readiness should the Asia Cup shift occur. With the PCB's Mohsin Naqvi doubling as ACC president, such parallel initiatives underscore Pakistan's active role in preserving the tournament's continuity. ADVERTISEMENT Yet India has maintained a discreet stance. The Board of Control for Cricket in India has neither confirmed nor denied its capacity to host or participate, with internal caution dominating its external posture. BCCI secretary Devajit Saikia recently refuted reports that India would withdraw from all ACC events. Still, precedent indicates India's avoidance of Pakistan-hosted events: The team did not travel to Pakistan for the Champions Trophy in February–March, instead participating in Dubai under a hybrid format. Recalling historical context affirms the ACC's decision. In 2018, the tournament was relocated from India to UAE amid similar political friction. Such precedent sets a framework for crisis management within the sport, suggesting that regional hostilities do not necessarily derail cricketing schedules. Observers also note that India has consistently leveraged a hybrid model since 2022, notably playing Asia Cup matches in UAE and Sri Lanka rather than Pakistan. Operationally, staging the Asia Cup in UAE will require careful planning, balancing weather conditions in September, broadcast scheduling for global audiences, and coordination with the tri-series. The PCB's tri-series proposal is advancing, reflecting a proactive stance. Meanwhile, ACC is likely to convene soon, under Naqvi's leadership, to finalise the tournament's relocation, format adjustments, and confirmation of venues in Dubai and Abu Dhabi. No official announcement has yet been made, but reports from ET and ProPakistani align in describing the move as imminent. Stakeholders are weighing broader implications. Indian broadcasters and advertisers depend heavily on premium fixtures, particularly India–Pakistan matches that attract unparalleled viewership. A full UAE tournament may retain this commercial allure while circumventing diplomatic entanglements. For smaller teams such as Hong Kong, Oman and UAE—each having qualified through ACC's Premier Cup—the neutral format ensures on-field exposure without political fallout. However, dissenting voices warn against complacency. Some Pakistani conspirators question whether a UAE relocation diminishes Pakistan's role as host, contrary to its status as 2025 Champions Trophy host and an ACC full member. Conversely, BCCI's insistence on a hybrid model has previously delayed Pakistan-based hosting, but this time the initial hosting rights belong to India. Any pivot could attract scrutiny over ACC governance and fairness, adding dimension to an already complex political backdrop. ADVERTISEMENT Supporters of the hybrid model note that India's hybrid strategy for the Champions Trophy earlier this year preserved integrity but exposed limitations. Attendance at Dubai was lukewarm; Australia–India clashes lacked the vibrancy typical of full-capacity Pakistan venues. UAE's smaller suburban stadiums and shorter pitches may limit spectator buzz, but logistical expediency and political neutrality weigh heavily. Athletes themselves face uncertainty. India and Pakistan players have not toured regularly since 2008 in bilateral series, and momentum often arises through ICC events. The Asia Cup in UAE represents another opportunity for competitive engagement before the T20 World Cup in 2026. With eight teams and nineteen matches planned, this Asia Cup holds relevance for Qatar 2026 preparations. Still, fragmented venues and political overtones could overshadow performance, causing players and fans to question cricket's autonomy from geopolitics. As the ACC readies its final call, timing remains critical. A decision made before July is necessary to confirm bilateral arrangements, tickets, broadcasting contracts, and tri-series scheduling. ACC's resolution will reverberate across regional cricket administration, testing confidence in neutral venues as a template for coping with diplomatic disruptions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store