STC Bank has been awarded the Fast Track Growth award at the annual Temenos Forward Awards in Madrid, Spain, in acknowledgment of its remarkable growth in users since its launch as a full-fledged digital bank just three months ago.
STC Bank is one of the leading digital banks in the Kingdom. It began its journey as a digital wallet before transitioning into a fully licensed digital bank under the supervision of the Saudi Central Bank.
The bank’s rapid growth is attributed to its ease of use and innovative features, such as instant money transfers via mobile number, competitive rates on international remittances, bill payments, and more.
Existing wallet users can seamlessly migrate to the bank’s platform, while new customers can open a bank account in less than two minutes.
Temenos, a global leader in banking software for more than 32 years, has been instrumental in supporting the banking sector through its core banking platform, Temenos Core.
This platform empowers users with access to modern digital lending and deposit solutions.
With Temenos Core, the bank has successfully launched a microservice and data-driven architecture and is expanding into innovative lending and digital deposit solutions, reinforcing its strategy of modular, data-driven offerings.
This collaboration supports STC Bank’s commitment to adopting advanced technology to redefine banking standards in the Kingdom and the broader GCC region.
