Qashio taps Alinma Bank for Saudi launch

Qashio, a spend management start-up based in Dubai, has teamed up with Alinma Bank to provide its services to corporate banking customers in Saudi Arabia. The partnership marks the first collaboration between a bank and a fintech company in Saudi Arabia.

The aim of the collaboration is to offer small and medium-sized enterprise (SME) and enterprise-grade spend management platforms to the customers in the country.

This includes Alinma Bank’s corporate customers, who will be able to issue virtual and physical corporate cards for employees in Saudi Arabia without depending on Bahrain-issued cards. The cards will come with features such as spending controls and limits, accounting integrations, and workflows.

Qashio’s CEO and co-founder, Armin Moradi, stated that the partnership is in line with Saudi Arabia’s Vision 2030 initiative, which promotes the adoption of fintech-friendly approaches and encourages the growth of fintech firms in its market.