News

MALY Is Helping To Fuel Saudi Arabia’s Fintech Revolution

The KSA is rapidly becoming a MENA fintech leader, and next-gen digital savings platform and money mentor app MALY is one of its key players.

Published

2 years ago

October 10, 2023

Nour Nasir

MALY

Despite nearly 100% smartphone penetration and a growing awareness of digital platforms, Saudi Arabian officials are concerned by the lack of financial education and the accessibility of financial wellness advice.

Founded in 2022, fintech startup MALY aims to plug this gap, providing users with a financial wellness platform that helps cultivate better money habits, plugging crucial gaps in Saudi Arabia’s struggling consumer savings sector. Mo Ibrahim, MALY’s co-founder and CEO, described the current climate in the KSA:

“Various estimates cite up to 70% of the Saudi population as having no savings […] despite the reality of immense economic challenges. People need help in building healthier relationships with their finances, and fintechs can provide the necessary tools and platforms to enable individual financial wellness”.

Ibrahim says fintech growth in Saudi Arabia will also be aided by the country’s National Fintech Strategy (SNFS). The initiative aims to drive fintech innovation, increase the number of startups in the Kingdom to 230, and grow digital transactions by 70% by 2025.

Also Read: A Guide To Digital Payment Methods In The Middle East

MALY is uniquely positioned to help the KSA achieve its fintech vision. The company’s cutting-edge platform leverages data science and machine learning. According to CEO Mo Ibrahim, MALY is an essential toolbox that helps to automate and manage personal savings and investments while offering debt management tools and investment techniques.

As well as its current suite of financial tools, MALY is also planning an AI-powered Financial Stress Tracker, which will leverage Open Banking to identify patterns indicating financial stress while providing customers with personalized advice and education programs to help them manage their finances.

Related Topics:FinTech MALY Saudi Arabia

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News

Google Pay Launches In Lebanon With Support From Multiple Banks

Bank Audi, Neo Digital Bank, and Whish Money are all offering support for Mastercard and Visa cardholders.

Published

2 weeks ago

June 25, 2025

Nour Nasir

google pay launches in lebanon with support from multiple banks

neo Bank Audi

Google Pay has officially launched in Lebanon, allowing Android users to make secure, contactless payments via their smartphones. The rollout has been quickly supported by BLOM, BLF, Whish Money, Bank Audi, and its digital banking offshoot Neo Digital Bank. Customers of all three services can now add eligible Mastercard and Visa payment cards to their Google Wallets.

The integration enables in-store tap-to-pay transactions, as well as online and in-app purchases, using the same cards users already carry. For Bank Audi and Neo Digital Bank, the launch covers Mastercard products; for Whish Money, BLOM, and BLF it includes Visa cards. Payments are processed through the Google Pay platform, which maintains cardholder privacy while extending standard card protections.

To begin using the service, customers can download the Google Wallet app from Google Play, select “Add to Wallet,” and follow a short verification process. Once set up, payments can be made with a single tap — eliminating the need to carry physical cards or cash.

Also Read: Oakley And Meta Reveal Performance-Focused AI Smart Glasses

“This launch represents a significant milestone in our commitment to digital innovation and customer convenience,” said Toufic Koussa, CEO at Whish Money. “By making Whish Visa Card available on Google Pay, we’re enabling our customers to make everyday transactions faster, more secure, and more inclusive. It’s about giving them the tools they need to transact seamlessly, wherever they are”.

The move follows the official activation of Google Pay in Lebanon on June 24, 2025, and marks a notable expansion of mobile payment options in a market where Apple Pay has yet to gain traction. Google’s entry is expected to increase digital wallet adoption among Android users and pave the way for further collaborations with regional financial institutions.