D360 Bank has secured approval from the Saudi Central Bank (SAMA) to launch its digital banking operations, marking a key milestone for the bank’s vision to become the leading digital financial platform in Saudi Arabia by 2030.
The bank’s mission is to provide Shariah-compliant financial services, enabling access to credit to a wider segment of the Saudi population by applying modern technologies to serve clients and process data in compliance with regulations and guidelines.
Backed by Saudi Arabia’s sovereign fund Public Investment and Derayah Financial, D360 Bank contributes to the digital transformation of the Saudi financial services sector.
“The launch of D360 Bank marks a new chapter in providing innovative and comprehensive digital banking services to all segments, aligned with global digital standards, supporting financial inclusion in Saudi Arabia and aligning with the objectives of the Financial Sector Development Program, contributing to the ambitious goals of Vision 2030 and reinforcing Saudi financial sector leadership in the region and globally,” said Taha A. AlKuwaiz, the Chairman of D360 Bank.
Customers can now open their digital bank account in only a few steps taking approximately two minutes. Through the D360 app, customers have access to an array of exclusive services, such as the best travel experience, using the D360 Bank card without any foreign currency exchange, the lowest fees and the fastest international transfers, paired with competitive exchange rates and no-cost local transfers.
From the app, customers can also pay bills and securely send money. By leveraging data insights in compliance with regulations, D360 Bank delivers personalised financial services tailored to each customer’s needs, ensuring a forward-thinking, accessible banking experience that is available 24/7 from anywhere.
“SAMA’s relentless support and supervision has been instrumental in our journey, and made us a better bank. Now, we are ready to begin opening accounts for our waitlisted customers. During our pre-launch phase, D360 Bank witnessed a high demand, demonstrating the remarkable progress and leadership of the Saudi banking sector regionally and globally,” said Eze Szafir, the CEO of D360 Bank.
D360 Bank focuses on digital innovation to support financial inclusion in the kingdom and to drive digital transformation within the banking sector.
D360 Bank has no physical branches, meaning that all banking services – from account opening to daily transactions – are conveniently, swiftly and securely handled via the bank’s mobile app.
