STC Bank has received the Fast Track Growth award at the annual Temenos Forward Awards, recognizing its remarkable user growth since its inception as a fully operational digital bank just three months ago.
STC Bank is one of the premier digital banks in the Kingdom of Saudi Arabia. Initially starting as a digital wallet, it evolved into a fully licensed digital bank under the oversight of the Saudi Central Bank (SAMA). The bank’s swift expansion can be attributed to its user-friendly interface and innovative features, including instant money transfers via mobile number, competitive rates on international remittances, bill payments, and more. Existing wallet users can easily transition to the bank’s platform, while new customers can set up a bank account in under two minutes.
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Temenos, a global frontrunner in banking software for over 32 years, has played a crucial role in enhancing the banking sector through its core banking platform, Temenos Core. This platform enables users to access modern digital lending and deposit solutions. The partnership with Temenos reinforces STC Bank’s dedication to embracing cutting-edge technology and innovation to transform banking standards in the Kingdom and the wider GCC region.
