Latest news with #NayaOne
Fintech News ME
10 hours ago
- Business
- Fintech News ME
UK's NayaOne Launches Saudi's First Fully Hosted Fintech Infrastructure Platform
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.'
Zawya
12 hours ago
- Business
- Zawya
UK-based NayaOne enters Saudi fintech market
Riyadh – NayaOne, a UK-based vendor delivery infrastructure (VDI) platform, has marked its entry into Saudi Arabia with support from AstroLabs, according to a press release. NayaOne launched the Kingdom's first fully Saudi-hosted platform, allowing banks, insurers, and fintechs to design, test, and introduce products in weeks. This supports the Saudi Vision 2030's goal of creating a digitally advanced and inclusive financial ecosystem. Backed by the UK's Department for Business and Trade (DBT), this launch provides Saudi institutions access to the local tech ecosystem as well as the wider NayaOne ecosystem globally. This expansion marks a milestone in UK-Saudi fintech collaboration, bridging British innovation with Saudi market momentum. Karan Jain, Founder and CEO of NayaOne, commented: 'Hosting our platform inside the Kingdom removes data-sovereignty friction and lets institutions move from idea to execution in weeks.' Baroness Gustafsson, UK Minister for Investment, 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. Gustafsson added: '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.' Commenting on NayaOne's expansion, Alex Nicholls, Director of Expansion at AstroLabs, mentioned: 'NayaOne's expansion will accelerate the development of a new subset of products that meet the demands of a fast-moving market and support financial inclusion.' Nicholls noted: 'With its newly launched hub in Riyadh, NayaOne is uniquely positioned to deliver a greater impact by fostering closer partnerships with leading FIs and fintech innovators in Saudi Arabia, making it a powerful catalyst for innovation within the local financial services and banking sector.' Saudi Arabia's fintech market recorded remarkable growth over recent years, supported by government initiatives, regulatory support, and increasing needs for financial services. Hence, fintech is expected to reach a market value of $87 billion in 2029, up from $64 billion in 2024.
Zawya
29-01-2025
- Business
- Zawya
NayaOne powers World Economic Forum's groundbreaking tradetech regulatory sandbox
ABU DHABI, UAE /PRNewswire/ -- NayaOne is proud to power the World Economic Forum's TradeTech Regulatory Sandbox, delivered in collaboration with the UAE Ministry of Economy (MoE) and the Abu Dhabi Department of Economic Development (ADDED). This groundbreaking initiative is set to revolutionise global trade by leveraging cutting-edge technologies, streamlining trade processes, and fostering a more efficient, inclusive, and equitable trading ecosystem. The NayaOne platform is proud to enable the global trade initiative with its Digital Sandbox platform. By bringing together regulators, global enterprises, and innovative technology providers, the initiative fosters a dynamic ecosystem aimed at driving progress in the trade finance sector in a safe and secure manner. The initiative is supported by leading regulatory partners committed to driving digital trade innovation, including Abu Dhabi Global Market, the Central Bank of the UAE, the Ministry of Cabinet Affairs (UAE), and the Dubai Financial Services Authority. This inaugural cohort marks a significant milestone in shaping the future of global digital trade infrastructure through real-world regulatory collaboration. Selected pioneering companies from the UAE, Africa, Sweden, India, Germany, and Estonia will test and refine trade tech solutions to ensure compliance while accelerating the adoption of digital trade innovations. We are excited to see these pioneering companies pave the way for a more secure, inclusive, and efficient cross-border trade environment. About NayaOne NayaOne accelerates innovation by helping financial institutions and large enterprises discover, test, and adopt new technologies. Its agile platform offers pre-vetted technology vendors, synthetic data, and secure testing environments, cutting implementation timelines by up to 12 months. Trusted by financial institutions worldwide, NayaOne drives digital transformation and reduces procurement complexities. About WEF The World Economic Forum (WEF) unites global leaders to tackle challenges, foster innovation, and drive sustainable growth. By shaping policies and advancing technology, WEF acts as a catalyst for global change. About UAE Ministry of Economy The UAE Ministry of Economy (MoE) drives economic growth through innovation, competitiveness, and diversification, positioning the UAE as a hub for investment, trade, and innovation.
