Fueling growth in the private sector
From rapid technological developments and climate change issues to geopolitical and economic instability, the world has become increasingly challenging to navigate.
“Business as usual" is no longer an option - organizations must embrace innovative strategies more than ever to stay ahead. At Deloitte Middle East, we take pride in providing our clients with effective solutions. Over the past year, we have focused on driving meaningful progress, working diligently to ensure our clients are equipped to overcome challenges and seize new opportunities for a prosperous future.
At Deloitte Middle East, innovation remains at the core of our strategy. We are continuously evolving to meet the dynamic needs of our clients, transforming industries with innovative solutions, and building strong, long-term partnerships that position us as key allies in driving success.
The Saudi Central Bank (SAMA) and the Capital Market Authority (CMA) have launched a new financial technology program called Makken, aimed at supporting and developing the country’s fintech sector. The program, which means "empower," is designed to assist entrepreneurs and startups in the Saudi fintech industry by providing financial support, along with a comprehensive suite of advisory and coaching services.
Deloitte has been selected as the key partner for this game-changing initiative, leveraging its cloud-managed services model, OpenCloud, to host the participating fintech startups. By doing so, Deloitte provides these fintechs with automation, cloud optimization, and robust cybersecurity services for multi-cloud workloads. This collaboration allows startups to deliver faster time to market and focus on building innovative products and services.
Our partnership with the fintech program not only empowers the growth of this crucial sector in the Saudi economy but also drives its transformation. Deloitte’s OpenCloud platform will deliver fintechs with cloud infrastructure that enables swift delivery to support secure, compliant, scalable, and agile operations. This will empower startups to concentrate on building their pioneering products and services successfully.
This partnership is a unique collaboration, bringing together multiple leading global cloud service providers and managed service providers in the Kingdom, marking a significant step in the development of Saudi Arabia’s fintech landscape.
