In a strategic move to drive digital transformation in the Middle East, ACI Worldwide, a global leader in real-time payments and digital banking solutions, has announced the expansion of its partnership with iNet, a prominent payment solutions provider in the GCC region. The collaboration is aimed at boosting fintech innovation and financial inclusion in Saudi Arabia, a market that’s rapidly embracing digital finance under the Kingdom’s Vision 2030.
A Shared Vision for a Cashless Saudi Arabia
The Kingdom of Saudi Arabia has set ambitious goals to transform itself into a cashless, digitally empowered economy. With increasing demand for real-time payments, secure digital transactions, and mobile-first banking experiences, this partnership arrives at a crucial time.
By extending their alliance, ACI and iNet aim to deliver:
- Next-gen payment technologies
- Real-time fraud detection and risk management
- Scalable digital banking infrastructure
- Cloud-based fintech solutions tailored for banks and financial institutions
iNet’s leadership echoed similar sentiments, highlighting their shared commitment to local market customization, regulatory compliance, and technology-first solutions that align with Saudi Arabia’s digital agenda.
Why This Partnership Matters
The extended alliance will help local banks, payment processors, and fintech startups:
- Accelerate digital adoption and reduce dependency on legacy systems
- Meet the Saudi Central Bank (SAMA) regulations and digital payment targets
- Drive financial inclusion by bringing underserved populations into the digital economy
- Foster innovation in real-time payments, digital wallets, and cross-border remittances
Fintech Momentum in the Region
Saudi Arabia’s fintech sector has witnessed explosive growth, with over 200 licensed fintech firms operating in the market as of 2024. Initiatives like SAMA’s open banking policy, the instant payment system (Sarie), and major IPOs in the fintech space reflect the country’s push toward becoming a regional fintech hub.
ACI and iNet are well-positioned to support this momentum by offering end-to-end, cloud-enabled solutions that are secure, compliant, and scalable.
Ahead
The extended partnership between ACI Worldwide and iNet is a major win for the region’s digital economy. As Saudi Arabia races toward its Vision 2030 goals, collaborations like this will play a pivotal role in shaping the next generation of financial services—faster, smarter, and more inclusive.
