In a bid to support small and medium enterprises and fintech companies, the cutting-edge cybersecurity company sirar by stc and Fintech Saudi, a catalyst for the development of the financial services technology industry in Saudi Arabia, signed an agreement for the provision of a discounted digital signature service package.
The agreement was signed by Fahad Al-Jutaily, CEO of sirar by stc, and Nezar Al-Haidar, general manager of Fintech Saudi. The signing ceremony took place under the patronage of Governor of the Digital Government Authority Ahmed bin Mohammed Alsuwaiyan, and in the presence of Ibrahim Al-Nasser, undersecretary at the Ministry of Communications and Information Technology for the technology sector; Raed Al-Fayez, deputy governor at the Communications and Information Technology Commission for the information and emerging technologies’ sector; Ziad Al-Yousef, deputy governor for development and technology at Saudi Central Bank; and Yazeed Al-Demaigi; deputy, strategy and international affairs at Capital Market Authority.
The agreement solidifies the integration between the Digital Government Authority and the Saudi Central Bank, to support SMEs, fintech companies and entrepreneurs, to boost innovation and diversity of products and services through digital platforms, and increase the contribution of digital government services to the national economy, in line with the goals of Saudi Vision 2030.
Under the agreement, sirar by stc will offer a digital signature service package at a discount of 60 percent, which will benefit SMEs, fintech companies and entrepreneurs. The digital signature service allows users to digitally sign documents from anywhere and at any time, while ensuring reliability, authenticity and security.
The partnership is in line with the efforts of the authority and all stakeholders to improve the regulatory environment for digital services, facilitate businesses, and strengthen strategic partnerships between government agencies and the private sector, in order to develop the digital ecosystem.
Faris Al-Rabadi, deputy governor for regulation and digital trust at the Digital Government Authority, said the agreement aims to promote digital trust services, which contributes to improving the user experience, ensures that electronic transactions are conducted with high reliability and promotes digital transformation in the Kingdom.
Al-Yousef from the Saudi Central Bank said the agreement will contribute to the development of the fintech sector in the Kingdom, facilitate business in the financial sectors, enhance cooperation and coordination, and keep pace with global developments to achieve the aspirations of Saudi Vision 2030.
Al-Haidar, general manager of Fintech Saudi, said the agreement will support the empowerment of fintech companies by reducing their operating costs.
sirar by stc CEO Al-Jutaily, meanwhile, said: “The agreement comes within the framework of the company’s efforts to support and enable the fintech sector in the Kingdom, which serves the purpose and plans of Saudi Arabia’s digital transformation.”