Qashio partners with Alinma Bank to roll out new solutions to KSA customers

By Leandra Monteiro

Spend management FinTech Qashio has entered an exclusive partnership with Alinma Bank to launch its operations in the Kingdom.

This is the first time that a KSA bank has joined hands with a FinTech company to provide solutions to its corporate banking customers, a massive milestone for the country’s tech space.

Commenting on the partnership, Abdullah Khalid Alsalloom, Deputy General Manager – Cards, Alinma Bank, said, “This partnership brings together Qashio’s leading expense management platform along with deep technology and domain experience together with Alinma Bank’s expertise in digital banking and local market knowledge of the wider banking ecosystem.”

With this partnership, Qashio can roll out both its SME and Enterprise-grade spend management platforms to its customers in the country. FinTech solutions are also available to Alinma Bank’s vast number of corporate customers, benefiting both the bank’s and Qashio’s KSA customers. Businesses can now issue KSA corporate cards to be used for their employees in KSA without running the risk of suspension and withholding tax Bahrain-issued SAR cards. These integrated corporations will come with advanced control/limits, accounting integrations, and enterprise-grade workflows.

Armin Moradi, CEO and co-founder of Qashio commented, “This partnership with Alinma Bank is a move to align with Saudi Arabia’s efforts to adopt fintech-friendly approaches and increase the presence of fintech firms in its market, in line with its Vision 2030 initiative. Qashio is dedicated to helping companies eliminate manual finance processes, offering a solution that is secure, safe, and ready for use by both large enterprises and SMEs.”