Why the STC bank news is a significant milestone for banking and fintech in Saudi...plus, Hans Zimmer!

In Episode 43 of the TWENTY30 Podcast, co-hosts Lucien and Hanaa discuss a major milestone in the Saudi banking sector with the launch of the Kingdom's first all-digital bank, STC Bank. In Lucien's DEEPDIVE, he shares the journey of the bank from a small and unknown entity to acquisition by STC to approval by the Saudi Central Bank (aka SAMA) roughly 8 years later, and why it is a watershed moment for the banking sector and fintech in Saudi Arabia. The approval by SAMA opens the doors to more operators in this space - but it was done with caution, putting consumer protection above speed - a contrast with the rapid digitization of other sectors and services in Saudi Arabia.

Before the DEEPDIVE, the hosts catch up with Lucien boasting at Riyadh's beautiful weather this time of year in comparison to Hanaa's London, before teasing some upcoming live and in-person interviews the TWENTY30 will be conducting in just a few weeks from Riyadh. 

After the DEEPDIVE, the hosts catch up on some of the latest news, including Saudi Arabia's IPO boom and why that's not translating to wider market performance, INTERPOL's Riyadh HQ, art in Jeddah, and last but certainly not least, Hans Zimmer and the reported plans for a Hans Zimmer treatment of the Saudi National Anthem. 

About The TWENTY30 Podcast

New futuristic cities built from scratch. Giga-projects. Major sports investments. Trillions in spending. An economy and society changing so quickly even locals sometimes can’t believe their eyes. Saudi Arabia is on a mission to change itself from a conservative society with an oil-dominated economy to a modern and open society with a diversified economy - and to become a global tourism destination. Such a transformation has never before been attempted, and the stakes for the Middle East - and the world - are high. The TWENTY30 is a new media network and podcast that explores the seemingly endless dimensions of the social and economic transformations in Saudi Arabia, which few living outside the Kingdom can truly grasp. From the creator and co-host of The 966 Podcast comes a new platform that tackles the news, issues, challenges, and opportunities in Saudi Arabia and the Middle East region as it continues forward in a full-throttle effort to remake itself while the world watches. Featuring exclusive interviews, frank conversations, and in-depth topic exploration, The TWENTY30 is the first bi-weekly English program of its kind dedicated to uncovering and highlighting the road ahead for Saudi Arabia and the region and why it matters.

 

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