Latest news with #STCBank
Arab News
2 days ago
- Business
- Arab News
STC Bank wins Temenos' ‘Fast Track Growth' award
STC Bank has been awarded the Fast Track Growth award at the annual Temenos Forward Awards in Madrid, Spain, in acknowledgment of its remarkable growth in users since its launch as a full-fledged digital bank just three months ago. STC Bank is one of the leading digital banks in the Kingdom. It began its journey as a digital wallet before transitioning into a fully licensed digital bank under the supervision of the Saudi Central Bank. The bank's rapid growth is attributed to its ease of use and innovative features, such as instant money transfers via mobile number, competitive rates on international remittances, bill payments, and more. Existing wallet users can seamlessly migrate to the bank's platform, while new customers can open a bank account in less than two minutes. Temenos, a global leader in banking software for more than 32 years, has been instrumental in supporting the banking sector through its core banking platform, Temenos Core. This platform empowers users with access to modern digital lending and deposit solutions. With Temenos Core, the bank has successfully launched a microservice and data-driven architecture and is expanding into innovative lending and digital deposit solutions, reinforcing its strategy of modular, data-driven offerings. This collaboration supports STC Bank's commitment to adopting advanced technology to redefine banking standards in the Kingdom and the broader GCC region.
Zawya
5 days ago
- Business
- Zawya
STC Bank wins Temenos' Fast Track Growth Award
Riyadh, Saudi Arabia: STC Bank has been awarded the Fast Track Growth award at the annual Temenos Forward Awards, in acknowledgment of its remarkable growth in users since its launch as a full-fledged digital bank just three months ago. STC Bank is one of the leading digital banks in the Kingdom of Saudi Arabia. It began its journey as a digital wallet before transitioning into a fully licensed digital bank under the supervision of the Saudi Central Bank (SAMA). The bank's rapid growth is attributed to its ease of use and innovative features, such as instant money transfers via mobile number, competitive rates on international remittances, bill payments, and more. Existing wallet users can seamlessly migrate to the bank's platform, while new customers can open a bank account in less than two minutes. Temenos, a global leader in banking software for over 32 years, has been instrumental in supporting the banking sector through its core banking platform, Temenos Core. This platform empowers users with access to modern digital lending and deposit solutions. The collaboration with Temenos supports STC Bank's commitment to adopting advanced technology and innovation to redefine banking standards in the Kingdom and the broader GCC region. For more information or to explore STC Bank's features, download the app on the Apple App Store or Google Play, or visit For more information about STC Bank, please visit:
Zawya
15-05-2025
- Business
- Zawya
Saudi: STC Bank partners with Arthur Lawrence
Saudi Arabia - STC Bank has announced on Monday, on the sidelines of the Saudi-U.S. Investment Forum 2025, an agreement with Arthur Lawrence to deliver operational outsourcing and job description development services to the bank. As part of the agreement, STC Bank will now be supported by Arthur Lawrence in developing and aligning job descriptions for roles across the company to ensure alignment with STC Bank's vision. Arthur Lawrence will also be responsible for delivering required outsourced human resources to the bank. By leveraging its proven methodologies and sector expertise, Arthur Lawrence will help ensure that every role at STC Bank is aligned with the bank's evolving business goals, enhancing operational clarity and enabling smarter workforce planning across all departments. Arthur Lawrence is a U.S.-headquartered professional services firm specializing in technology, talent, and business transformation. With a presence in the Kingdom through its subsidiary Arthur Lawrence Arabia, the firm delivers high-impact consulting and outsourcing solutions tailored to organizational growth and operational efficiency. STC Bank is a licensed digital bank in Saudi Arabia, driven by the growing demand for convenient, accessible, and digital-first banking solutions from the Kingdom's tech-savvy population. The bank was launched as a wallet in 2018 and became a fully licensed digital bank under the Saudi Central Bank (SAMA) in early 2025, and it has steadily grown into a trusted financial partner for a diverse range of users, retail and corporate. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
14-05-2025
- Business
- Saudi Gazette
STC Bank partners with Arthur Lawrence for operational outsourcing, job description development services
STC Bank has announced on Monday, on the sidelines of the Saudi-U.S. Investment Forum 2025, an agreement with Arthur Lawrence to deliver operational outsourcing and job description development services to the bank. As part of the agreement, STC Bank will now be supported by Arthur Lawrence in developing and aligning job descriptions for roles across the company to ensure alignment with STC Bank's vision. Arthur Lawrence will also be responsible for delivering required outsourced human resources to the bank. By leveraging its proven methodologies and sector expertise, Arthur Lawrence will help ensure that every role at STC Bank is aligned with the bank's evolving business goals, enhancing operational clarity and enabling smarter workforce planning across all departments. Arthur Lawrence is a U.S.-headquartered professional services firm specializing in technology, talent, and business transformation. With a presence in the Kingdom through its subsidiary Arthur Lawrence Arabia, the firm delivers high-impact consulting and outsourcing solutions tailored to organizational growth and operational efficiency. STC Bank is a licensed digital bank in Saudi Arabia, driven by the growing demand for convenient, accessible, and digital-first banking solutions from the Kingdom's tech-savvy population. The bank was launched as a wallet in 2018 and became a fully licensed digital bank under the Saudi Central Bank (SAMA) in early 2025, and it has steadily grown into a trusted financial partner for a diverse range of users, retail and corporate.
Leaders
25-04-2025
- Business
- Leaders
Saudi STC Launches Major Lending Push Backed by Western Union
Saudi Arabia's largest telecom firm, STC, is entering corporate lending through its digital banking unit, STC Bank, backed by Western Union. The unit, launched earlier this year, targets large firms, SMEs, and retail clients with loans and investment products. CEO Nizar Altwaijri stated the bank aims to roll out full services by late 2025, following an $800 million capital boost from STC. Strategic Moves and Growth STC Bank already serves 1.5 million customers, growing rapidly. Altwaijri emphasized leveraging STC's vast customer base to expand across market segments. The venture could ease Saudi Arabia's liquidity crunch amid low oil prices, supporting economic diversification projects. STC's stock has surged 16% this year, reflecting investor confidence. Western Union acquired a minority stake in STC Bank for $200 million in 2021, becoming a key stakeholder. STC Bank reported SAR 345 million ($92 million) in gross profit for 2024. Meanwhile, STC has diversified into internet services, acquired Telefonica shares, and sold tower assets to Saudi Arabia's Public Investment Fund (PIF). After nearly a decade in digital payments, STC secured regulatory approval for full banking operations in 2024. The firm declined to comment on potential Western Union reinvestment. The launch of STC Bank is a testament to STC's commitment to innovation and growth. As Saudi Arabia continues to diversify its economy, STC Bank is poised to play a crucial role in the Kingdom's digital transformation. Short link : Post Views: 17
