STC Bank named Kingdom’s ‘best digital bank’

STC Bank receives the Best in Business Award in Riyadh.
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Updated 07 July 2025
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STC Bank named Kingdom’s ‘best digital bank’

STC Bank has been awarded the title of the “Best Digital Bank in Saudi Arabia” at the second edition of the Best in Business Awards, organized by Inc. Arabia Magazine in Riyadh.

STC Bank started off as a wallet in 2018 and serviced 14 million users before it launched as a full-fledged bank earlier this year. It saw 2 million users shift from its earlier wallet version to its banking version in just three months, witnessing unmatched customer loyalty.

STC Bank’s broader mission since its incorporation has been to build a banking experience that is not only digital and efficient, but also rooted in the behaviors, needs and expectations of Saudi society, and it is through such innovations that it continues to shape the future of financial interaction in Saudi Arabia for a large number of the Kingdom’s tech-savvy and young population.

Today, users across Saudi Arabia are used to the ease that STC Bank has brought about with it and the solutions innovated by the bank continue to see its popularity rise among corporate and retail banking customers across various segments of Saudi society.

The Best in Business awards saw its inaugural edition last year in Dubai before it moved to Riyadh this year. Organized by Inc. Arabia Magazine, a platform that is highly regarded by more than 150 million of its readers who are founders and entrepreneurs across the GCC, the awards highlight and recognize the most successful companies in each field.


Winners of Global Prize for Innovation in Water announced in Jeddah

Updated 09 December 2025
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Winners of Global Prize for Innovation in Water announced in Jeddah

The city of Jeddah witnessed a landmark global event with the announcement of the winners of the Global Prize for Innovation in Water in its third edition, marking the conclusion of a highly competitive showcase that drew the attention of the international water community. The winners were revealed during the opening ceremony held as part of the fourth edition of the Innovation Driven Water Sustainability Conference.

During the ceremony, the names of 14 winners were announced. Their pioneering solutions succeeded in meeting the rigorous criteria set by the international jury panel. With total prizes amounting to $10 million across all stages, the award recognizes exceptional efforts in transforming research ideas into practical, real-world water technologies.

The two grand prizes this year were awarded to HanQing Yu from China, who received the Grand Impact Award, and Guihua Yu from the US, who received the Grand Discovery Prize.

In addition, 12 winners were honored across the various award tracks. The honorees included Charlie Norton, Premlal Balakrishna Pillai, Omar Daoud, and Felipe Torres from the UK; Jianan Gao from Hong Kong, China; John Gradek, Hamidreza Samouei, and Andrew Schevets from the US; Elena Campos and Ines Larrea from Spain; Walid Soufi from Turkiye; and Abrar Zafar from Saudi Arabia.

The awards ceremony marked the culmination of a competitive selection phase that included 36 finalists from 22 countries, representing distinguished universities, advanced research centers, and leading technology companies. The winning innovations span six key tracks vital to the future of the water sector: Advanced Water Production Technologies, Water Quality Improvement and Reuse, Circular Treatment and Zero Liquid Discharge Technologies, Digital Models, Process Optimization, and Automation, Sustainable Water Production and Environmental Conservation, and Cost-Effective Wastewater Treatment Technologies.

The international jury, comprising 28 experts from 12 countries, praised the high caliber of submissions, noting that the winning solutions demonstrated strong economic feasibility, positive environmental impact, and the ability to address global challenges related to water scarcity and climate change.