Saudi Awwal Bank has entered into an agreement with Wise to provide Awwal customers with fast, secure and cost-effective solutions for sending and receiving money internationally.
This agreement will contribute to Awwal achieving the goals of the Kingdom’s Vision 2030 - a financial sector development program designed to stimulate investment. The partnership is also central to First Saudi Bank’s strategy of focusing on providing the latest innovative banking solutions.
Bandar Al-Ghashean, CEO of Wealth Management and Personal Banking at Awwal, said : “This partnership is part of Awwal’s efforts to enable customers to carry out smooth and effective international transfers, according to the highest standards of quality, speed, and security. We also look forward to continuing our contributions to the development of the financial sector in the Kingdom. And keeping pace with the digital transformation, by providing the best modern digital banking solutions, as we are interested in providing distinguished digital services, according to the best approved technologies that support the rapid development in the financial sector.”
Steve Naudé, Head of Wise Platform, said : “We are pleased to announce this partnership with SAB, which is one of the leading and distinguished banks in the region, through which we aim to make international payments fast and easy and allow Awwal customers to benefit from our innovative Wise technology. This integration will enable customers to track their transfers in real time, and benefit from competitive exchange rates and low fees. This partnership is a great example of the way we always strive to expand our partnerships with the world’s leading financial institutions.”
About Wise
Wise is a global technology company, building the best way to move and manage the world's money. With Wise Account and Wise Business, people and businesses can hold 40 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new network for the world's money.
One of the world’s fastest growing, profitable tech companies, Wise launched in 2011 and is listed on the London Stock Exchange under the ticker, WISE.
In fiscal year 2024, Wise supported around 12.8 million people and businesses, processing approximately £118.5 billion in cross-border transactions, and saving customers over £1.8 billion.
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