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Open Banking is a new practice in the financial sector that enables customers of financial institutions to share their financial data securely with third-party providers (TPPs), which in turn provide new and innovative financial services and products for customers, after obtaining their explicit consent.

There are several open banking services and applications that provide customers with benefits in various areas, such as:
  • Consolidating all bank accounts into a single dashboard.
  • Personal Finance Management (PFM).
  • Enterprise Finance Management (EFM).
  • Credit Risk Assessment.
  • E-Statement as a Service.
  • Letter of Guarantee as a Service.

Open Banking Benefits

  • Strengthening partnerships between banks and FinTech companies.
  • Fostering opportunities to innovate and develop new financial products and services that meet customer needs.
  • Improving the financial sector's infrastructure
  • Increasing financial awareness.
  • Enhancing customer banking experience.
  • Empowering customers to leverage their financial transaction data to explore and adopt new methods of managing their money effectively.

Open Banking Services offered by Riyad Bank in partnership with permitted third-party providers:

Riyad Bank continually seeks to offer innovative digital financial services and solutions to its customers, such as open banking, and to provide the necessary technological infrastructure and technical expertise that enable the bank to strengthen its position as a strong competitor in this field.

One of the open banking services currently offered by Riyad Bank to its customers through third-party providers (TPPs), is the "Account Information Service (AIS)”, which provides them with multiple benefits, including:
  • Comprehensive display of customer’s financial information from multiple bank accounts.
  • Enabling customers to monitor their financial behavior by viewing the transactions carried out on their bank accounts.
  • Providing a variety of new investment technological options.

How to use Open Banking:

  • You must have an active Riyad Bank account.
  • You must be onboarded through a permitted third-party provider.
  • You must give an explicit consent through the TPP to grant access to your account information.

Riyad Bank’s Open Banking Developer Portal (WSL)

WSL is to unlock a world of seamless financial integration for external customers and partners through our innovative API integration platform. Experience enhanced collaboration and effortless access to a wide range of banking services.
Open Banking Developer Portal (WSL)


Permitted Third Party Providers (TPPs):

They are the companies permitted by the Saudi Central Bank to offer Open Banking products or services under the full supervision of the Saudi Central Bank.

You can learn more about the Third-Party Providers (TPPs) currently permitted by SAMA through the below link:

List of Integrated Third-Party Providers (TPPs) with Riyad Bank:

  • Drahim
  • Malaa
  • Tarabut
  • Spare
  • Lean
  • Single View
  • Bwatech

Frequently Asked Questions

Is Open Banking Safe?
What data is shared?
What does Open Banking consent mean?
How can I consent to Open Banking services?
Are Open Banking services free?
Can I revoke the consent/permission provided to third-party providers to access my banking information?
How can I access the Consent Management Dashboard?
How can I submit an Open Banking related complaint?
How are my personal and financial information protected in Open Banking?
Do I have to use Open Banking?


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