STC Bank Crowned Best Digital Bank in Saudi by Inc. Arabia

Malaz Madani

Last updated 8-07-2025

3 min

STC Bank named "Best Digital Bank in Saudi Arabia" by Inc Arabia Magazine.

Initially launched as a digital wallet, STC Bank quickly transitioned to a full-service bank.

With 14 million users, STC Bank has aligned services with young Saudi digital users' needs.

The recognition underscores STC Bank's innovation and efficiency in the competitive financial sector.

Inc Arabia's honour adds prestige, reflecting STC Bank’s significant impact on Saudi fintech.

A bit of good news just in for Saudi Arabia’s thriving fintech scene, folks. STC Bank has bagged the title of "Best Digital Bank in Saudi Arabia" at the latest edition of Inc. Arabia Magazine’s Best in Business Awards held recently in Riyadh. It's certainly quite a feather in their cap, and well... I mean, after their impressive performance lately, it comes as no surprise, right?

If you’ve been following Arageek, you'd probably remember how STC Bank began its adventure back in 2018, initially just as a digital wallet. Fast forward to now, they've made the jump from wallet to full-service bank earlier this year—quite a stride, I'd say. Within only three months of transforming into a fully-fledged bank, they saw around 2 million users migrate over, demonstrating incredible customer loyalty.

The transition, I reckon, has been nothing short of remarkable, especially in the highly competitive financial services industry. With 14 million users already under their belt from the wallet days, STC Bank has made smart moves to keep their customer base satisfied and on board. I'd say they're spot on in aligning their innovative banking solutions with the expectations and needs of Saudi’s digitally-savvy younger population.

Nowadays, it's hard not to see STC Bank popping up frequently in conversations about fintech in Saudi Arabia. They've steadily expanded their reach, appealing to everyone from individual customers to businesses, both large and small, across the Kingdom. Their approach is clear: making banking effortless, efficient, and intelligent.

On the flip side, let's give credit where it's due as well—Inc. Arabia Magazine certainly picked a deserving winner. The magazine, trusted across the GCC by a whopping 150 million founders and entrepreneurs, has developed quite a knack for identifying standout performers in business. Recognising STC Bank at the ceremony, which moved to Riyadh from its Dubai debut last year, obviously adds another layer of presige to this blossoming financial institution.

These kinds of honors don't just look good on a shelf; they highlight genuine innovation and efficiency in an industry where user experience is king. I'll be keeping a close eye on how STC Bank continues from here—bet they'll be chuffed to bits with this recognition—as Saudi fintech keeps on gaining momentum.

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