Fintechs to drive M&A in Saudi banking sector — KPMG
Published 24 Jul,2021 via Arab News - Economy RIYADH - The rise of financial technology companies in Saudi Arabia will stimulate merger and acquisition activity in the coming years, according to global management consultancy KPMG.
The fintech boom in the Kingdom has the potential to put pressure on traditional banks as the new companies appeal to its young, digital savvy population, the KPMG report said, according to Al-Sharq Al-Awsat.
Fintech startups have increased the prevalence of flexible digital transactions, helped ease regulatory barriers, and led to greater cooperation between financial technology companies and traditional financial institutions, KPMG said.
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