Arab National Bank Launches FinTech Accelerator in Partnership with Plug and Play

Editorial Team

Last updated 17-04-2025

3 min

Arab National Bank (anb) has launched its first FinTech accelerator programme in Saudi Arabia.

Partnering with Plug and Play, anb aims to nurture startups with mentorship and funding.

This aligns with Saudi Arabia’s Vision 2030 to enhance its financial technology sector.

The initiative supports start-ups, empowering them to scale up in a competitive global market.

Exciting success stories are anticipated from this accelerator, transforming the financial landscape.

In an exciting move geared towards boosting Saudi Arabia's growing FinTech (financial technology) sector, the Arab National Bank (anb) has launched its first-ever FinTech accelerator programme. Partnering with global innovation giant Plug and Play, the initiative aims to nurture ambitious startups—giving them a substantial leg-up with expert mentorship, targeted funding, and even potential global expansion opportunities through a dedicated initiative known as the "Goal Program".

With Saudi Arabia steadily progressing towards becoming a global hub for financial technology, programmes of this kind fall squarely within the Kingdom's Vision 2030 strategy, designed to diversify its economy and position itself as an international centre for tech and innovation. The scheme forms part of anb's broader mission under its "anb innovate" umbrella to create a buzzing environment where promising start-ups and entrepreneurs can thrive.

Speaking about this latest project, Omar Al-Aqeel, head of ANB's Digital Office, emphasised that empowering innovative startups remains at the heart of the bank's approach. He noted that the programme would offer tailored investment opportunities combined with specialised guidance, ensuring these promising ventures receive all the necessary tools to scale-up effectively and sustainably.

Plug and Play, a global frontrunner in supporting early-stage tech startups and one of the world's largest investors in this space, expressed pride in its collaboration with anb. The company described the partnership as an exciting opportunity to "uncover the latest FinTech innovation", strengthening the capabilities of new firms and helping them reach their potential in a fiercely competitive global marketplace.

Importantly, this initiative aligns very neatly with Saudi Arabia's Financial Sector Development Programme (launched back in 2018), one of the main drivers of Vision 2030. This programme actively promotes partnerships between the financial sector and pioneering startups, encouraging a dynamic innovation ecosystem to grow and mature within the Kingdom.

Having seen the FinTech wave dramatically reshape finances here in the UK—think Revolut, Monzo, and the rest—this latest push from anb in Saudi Arabia clearly demonstrates they're serious about transforming the financial lanscape in the region. And with Plug and Play on board, it's likely that we'll soon be seeing some compelling success stories coming out of this accelerator.

It's always refreshing to see banks take proactive steps to ensure that emerging startups don't just survive but actually flourish. And who knows—perhaps very soon, Arageek readers might be exploring some groundbreaking financial tools and apps emerging directly from ventures supported by this innovative collaboration. Keep your eyes peeled!

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