SNB Launches New SME Financing platform with Tarabut and Geidea

(BUSINESS WIRE)--Saudi National Bank (SNB), the Kingdom’s largest financial institution, today announced plans to launch a first-of-its-kind Point-of-Sale (POS) lending solution for small and medium enterprises (SMEs). The solution is powered by Tarabut, MENA’s leading regulated financial technology platform, and delivered through Geidea, one of Saudi Arabia’s leading payment solutions providers. This initiative remains subject to all necessary approvals from the Saudi Central Bank (SAMA).

SNB partnership with Tarabut and Geidea directly supports Vision 2030 and the Financial Sector Development Program, by creating faster, simpler, and more inclusive access to working capital for SMEs, the backbone of Saudi Arabia’s economy.

Mr Saud Abdulaziz Bajbair, Retail Business Group Head at SNB said: “As the Kingdom’s national bank, SNB is committed to providing innovative solutions that empower SMEs. By integrating lending directly into the platforms that SMEs already use every day, we are making access to finance faster, simpler, and more inclusive. This initiative is a milestone in the Saudi financial sector and a significant step towards realising Vision 2030.”

Tarabut provides the intelligence layer that powers open banking in the Kingdom, enabling banks like SNB to move beyond traditional lending and deliver instant, tailored credit experiences directly within the platforms SMEs already rely on. Abdulla Almoayed, Founder and CEO of Tarabut, said: “We are proud to be SNB’s technology partner in this landmark initiative. By bringing financing closer to the point of need, Tarabut enables digital lending for SMEs. Together with SNB and Geidea, we are delivering innovation at national scale, transforming SME finance in the Kingdom and directly advancing Vision 2030’s goals of financial inclusion and economic growth.”

With Geidea’s regional merchant network spanning nearly one million PoS terminals, this initiative will bring financing directly to the merchants’ payment ecosystem over Point of Sale and eCommerce channels. Geidea Group CEO, Mr. Omar Yassine, said: “Geidea’s mission has always been to empower merchants with integrated payment solutions. With this partnership, we are bringing financing directly into the same platform our SME customers already use to manage and grow their businesses. This marks a natural evolution in our journey to drive SME growth and economic transformation across the Kingdom.”

The first rollout will soon launch, giving SMEs direct access to SNB-powered financing enabled by Tarabut’s technology without leaving their PoS environment. By removing barriers and reducing waiting times, the partners aim to bridge the Kingdom’s credit gap and strengthen entrepreneurship.

About Saudi National Bank (SNB):

Saudi National Bank (SNB) is one of the largest financial institutions in the region and plays a pivotal role in supporting the national economy and enabling digital transformation in the banking sector. The Bank is committed to offering innovative products and services that meet the aspirations of the digital generation, through smart solutions and advanced banking experiences that align with customers’ lifestyles and interests.

About Geidea:

Geidea is a leading technology firm operating in the fintech space by offering digital banking technology, smart payment terminals and business management solutions for the retail and digital commerce sectors, currently serving over 650,000 merchants worldwide. The company is expanding internationally with operations in the UAE and Egypt.

Geidea believes that the latest payments and commerce technology should be accessible, affordable, and intuitive for everyone. The company continues to focus on its mission of empowering merchants with the tools to start, manage and grow their businesses, which is at the heart of what Geidea does. The group received an official certification as a Great Place to Work® (GPTW®) in all of its offices in Saudi Arabia, UAE, Egypt and India where it employs more than 2300 team members.

For more information, visit us at www.geidea.net

About Tarabut

Tarabut is MENA’s leading regulated financial technology platform, regulated in Saudi Arabia, the UAE, and Bahrain. The company provides secure, compliant API infrastructure that enables financial institutions and digital platforms to deliver seamless, personalised financial experiences, advancing financial inclusion across the region.

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