Title: Fintech up-coming in Saudi Arabia: study, analysis, and recommendations

Authors: Haifa Frad; Ahmed Jedidi

Addresses: Community College, Imam Abdulrahman Bin Faisal University, Dammam, Saudi Arabia ' College of Engineering, Ahlia University, Bahrain; National Engineering School of Sfax, University of Sfax, Tunisia

Abstract: Fintech is the new IT solution for the financial sector which it uses artificial intelligence, machine learning, security, etc. Moreover, different governments encourage the implementation of Fintech to improve their economics in the future. However, the crisis of the oil sector busts the GCC governments to change the types of their economic sectors to be more varied. Fintech is one of the major players in new GCC economics. Therefore, Fintech is one of the promote solutions that lines with the vision 2030 in Saudi Arabia. In this fact, this paper proposes a study of the Fintech implementation in Saudi Arabia, in which it analyses the different metrics involve in the process of implementation. Precisely, it focuses on three levels of implementation: Fintech initiative, Fintech regulation and Fintech in society. Finally, the paper presents a strategy recommendation to improve the implementation of Fintech in Saudi Arabia.

Keywords: Fintech; GCC countries; Saudi Arabia; ecosystem; Fintech regulation.

DOI: 10.1504/IJBIS.2023.128302

International Journal of Business Information Systems, 2023 Vol.42 No.1, pp.72 - 84

Received: 17 Dec 2019
Accepted: 11 Apr 2020
Published online: 17 Jan 2023 *