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FinTechs belonging to this category provide identification services, which are required for most banking services.
Introduction
Attitude of the country towards identification services
Nafath is the primary digital identity platform in Saudi Arabia, launched by the National Information Center, a government agency. It serves as a unified gateway for both citizens and residents to access various government and private services securely and reliably. Nafath allows for the approval of login requests, activation of biometric features, and centralized access to all banking service providers. Its purpose is to simplify and streamline online transactions, while ensuring data privacy and security through compliance with Saudi Arabia's laws and regulations.
Legal affairs
Obligations and requirements to provide identification services
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Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area
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Economic conditions
Market size for identification services and biggest companies in this business area
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Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area
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