Four-party collaboration will result in the region\u2019s first-of-its-kind AI-driven credit assessment model in the Kingdom, leveraging open banking data to drive financial inclusion<\/strong><\/li>\n
The enhancement to Tamam\u2019s microlending platform will revolutionize the consumer finance landscape, providing personalized, secure and data-driven financial solutions<\/strong><\/li>\n<\/ul>\n
Tamam<\/strong><\/a>, a Zain fintech and leader in Saudi Arabia\u2019s microlending sector, is collaborating with ZainTECH<\/strong><\/a>, FICO<\/strong><\/a>, and Lean<\/strong> Technologies<\/strong><\/a> to develop cutting-edge, AI-driven data solutions specifically tailored to the Saudi consumer finance market. The alliance will result in the region\u2019s first-of-its-kind AI-driven credit assessment model in the Kingdom, leveraging open banking data to drive financial inclusion, underscoring the Kingdom\u2019s ambitious Vision 2030, aimed at positioning Saudi Arabia as a global leader in fintech innovation, and aligns with the regulatory framework set by the Saudi Central Bank.<\/p>\n
$\"\"$ <\/p>\n
The strategic partnership brings together four key players to explore and integrate advanced AI applications and open banking technologies to enhance Tamam\u2019s platform. Through this collaboration, Tamam aims to revolutionize the consumer finance landscape, providing personalized, data-driven financial solutions that cater to the evolving needs of Saudi customers.<\/p>\n
Tamam is a leading one-stop shop for financial services in Saudi Arabia, providing individuals with the opportunity to receive Shari\u2019a-compliant loans without physically visiting a bank location. The platform\u2019s end-to-end application and award process takes just minutes from the time of downloading the app to the loan amount being paid out. Loans are provided to Saudi nationals and residents, without the requirement of a salary transfer or guarantor, with a finance amount up to SAR 50,000 available for a 24-month tenure.<\/p>\n
Yousef Al Musaileem<\/strong>, CEO of Tamam, commented, \u201cThis strategic partnership marks a significant milestone in Tamam\u2019s journey toward becoming a leader in AI-powered financial services in the Kingdom. By leveraging the expertise of leading-edge technology partners, we will deliver innovative, secure, and customer-centric solutions that meet the needs of our customers as well as contribute to Saudi Arabia\u2019s 2030 vision of becoming a regional fintech hub.<\/em>\u201d<\/p>\n
Andrew Hanna, CEO of ZainTECH said, <\/strong>\u201cThe importance of digital data and AI in driving significant predictive capabilities that fintech pioneers like Tamam can utilize to improve customer experiences is significant. This four-party collaboration to accelerate the delivery of new innovative fintech propositions, reinforces our ambitions to drive digital transformation and empower growth of enterprises in Saudi Arabia, further substantiated by ZainTECH\u2019s recent opening of offices in Riyadh.\u201d<\/em><\/p>\n
Combined, the partnership leverages:\u00a0<\/strong><\/p>\n
\u2013 Tamam<\/strong> (Tamam.life) will define key business requirements and use cases, ensuring the solutions developed are practical, relevant, and secure for its customer base. Tamam will also prioritize stringent data protection and anti-fraud measures to maintain customer trust and comply with the Saudi Central Bank\u2019s regulatory framework.<\/p>\n
\u2013 ZainTECH<\/strong> (ZainTECH.com) the integrated digital solutions provider of Zain Group and lead technology provider, will oversee the deployment of AI-driven solutions across Tamam\u2019s platform, ensuring compatibility and scalability while enhancing system efficiency and security.<\/p>\n
\u2013 FICO<\/strong> (FICO.com) a global analytics software leader, will deliver AI use cases focused on predictive credit scoring, risk assessment, and customer behavior analytics, driving value through personalized financial insights.<\/p>\n
\u2013 Lean<\/strong> (Leantech.me) will facilitate secure, compliant data connectivity through its open banking technology, ensuring seamless real-time data integration while adhering to the strict regulations set forth by the Saudi Central Bank.<\/p>\n
Collaborative Innovation for Vision 2030<\/strong><\/p>\n
This partnership represents a significant step forward in the Kingdom\u2019s efforts to lead the region in fintech innovation. The advanced AI-driven solutions being developed will enable Tamam to offer its customers a more personalized, secure, and seamless financial experience. This collaboration directly supports Vision 2030, under the supervision and regulation of the Saudi Central Bank.<\/p>\n
Data Security and Protection<\/strong><\/p>\n
A key focus of the partnership is ensuring the highest standards of data protection and security. The parties have committed to strict protocols for secure data sharing and confidentiality, utilizing Lean\u2019s open banking technology to facilitate compliant data exchanges. These measures will bring cutting-edge technology to the Saudi financial market, enhancing transparency, trust, and customer privacy.<\/p>\n
All four organizations (Tamam; ZainTECH; FICO and Lean) reaffirmed their commitment to driving innovation in the Saudi fintech landscape by enhancing Tamam\u2019s offerings and contributing to the broader objectives of Saudi Arabia\u2019s Vision 2030.<\/p>\n<\/div>\n<\/div>\n
Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact contact@binarynewsnetwork.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Four-party collaboration will result in the region\u2019s first-of-its-kind AI-driven credit assessment model in the Kingdom, leveraging open banking data to drive financial inclusion The enhancement to Tamam\u2019s microlending platform will revolutionize the consumer finance landscape, providing personalized, secure and data-driven financial solutions Tamam, a Zain fintech and leader in Saudi Arabia\u2019s microlending sector, is collaborating […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-10613","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-news"},"_links":{"self":[{"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/posts\/10613"}],"collection":[{"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/comments?post=10613"}],"version-history":[{"count":0,"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/posts\/10613\/revisions"}],"wp:attachment":[{"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/media?parent=10613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/categories?post=10613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seoulchronicle.com\/wp-json\/wp\/v2\/tags?post=10613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}