stc highlights fintech offerings at Seamless KSA

stc Group, a pivotal force in driving digital transformation across the region, made a significant presence felt at the Seamless Saudi Arabia 2023 exhibition and conference, which convened in Riyadh last week. This event saw the convergence of over 500 exhibiting companies, encompassing both domestic and international players, in addition to the participation of 2,000 company representatives and 300 distinguished speakers.

stc’s central focus during the conference revolved around its pivotal role as the engine of digital transformation for key sectors including fintech, e-commerce, retail, and payments. This status has been attained through the deployment of cutting-edge digital solutions.

At the heart of its showcase were stc’s array of digital and technical innovations, including the implementation of standard and soft point-of-sale (POS) systems through smart devices and payment platforms. Furthermore, stc showcased its expertise in ATM monitoring services and the strategic utilisation of virtual reality (VR) technologies within the metaverse. Notably, the company harnessed the potential of artificial intelligence (AI) technologies in diverse applications such as geographical analysis, fraud detection, anti-money laundering measures, and enhancing customer touchpoints.

Channels by stc, the company’s service division, embarked on a strategic expansion by capitalising on its logistics arm, dal, to offer comprehensive last-mile solutions. This expansion also involved forging strategic partnerships with key market players, including Jahez Company, Alinma Bank, and the Basalah e-commerce platform, solidifying stc’s market presence and ensuring long-term sustainability. The product and service offerings of myStore were also an integral part of this expansive strategy.

During the conference, stc Group entered into two significant Memoranda of Understanding (MoUs). The first was with Saudi Bright Ware, a specialised company excelling in software development, system integration, and payment solutions. This MoU is poised to facilitate the provision of financial and payment services to stc’s corporate clientele.

In addition, stc inked a second MoU with Paytabs, a company specialising in providing payment solutions for corporate transactions. The MoU encompasses the exploration of avenues for enhancing financial services and the development of a robust payments system. Furthermore, it seeks to foster innovation in fintech and deliver a bespoke payment gateway service expressly tailored for stc’s corporate sphere.

In a statement, stc Group underscored its unwavering commitment to redefining the landscape of fintech, e-commerce, retail, and payments. It emphasised its strategic allocation of resources to create pioneering payment solutions that optimise digital payment platforms, catering to both individuals and corporate entities across diverse industries. stc remains resolutely dedicated to driving digital empowerment across various sectors and advancing progress through the provision of state-of-the-art solutions.

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