Alinma Bank and FOODICS sign strategic FinTech partnership

Alinma Bank and FOODICS sign strategic FinTech partnership

- Alinma Bank has one of the most advanced banking infrastructures in Saudi Arabia

- Partnership to benefit SMBs and Micro-Businesses in the Kingdom with twice daily settlements.

Riyadh, Saudi Arabia., Alinma Bank, one of Saudi Arabia's largest financial institutions - one of leaders in digital payments, has announced today that it has signed a strategic Fintech partnership with FOODICS, the leading cloud-based technology and payments platform for restaurants in the MENA region. The partnership, combining Alinma’s cutting edge Fintech offering and FOODICS’ pioneering tech ecosystem, is set to specifically benefit Small Business Owners (“SMBs”) and Micro-Businesses in the Kingdom.

This announcement comes in direct support of Saudi Arabia’s goal to raise the contribution of SMBs to the economy, and its launch of several accelerator programs. A key driver of economic development and diversification, SMB’s strength rests on their ability to stay lean, and to adapt to changing consumer behavior and market conditions.

Under this partnership, the two brands have come together to launch new products to enable small business owners to have full autonomy over their business decisions, allowing them to sell from anywhere at any time and accept payments on the go. This will allow them to maximize their sales and their