In its Q3 2023 business sector report, the Ministry of Commerce highlighted a 21% surge in registered businesses within the FinTech solutions sector, marking substantial growth in this cutting-edge field.
By the close of Q3 2023, FinTech solutions registrations swelled to 2,831, a notable increase from 2,329 at the end of the same quarter in the previous year.
Riyadh leads the pack among the top five regions, boasting 1,707 businesses registered under FinTech solutions. Following are Makkah with 588 registrations, the Eastern Province with 297, Madinah with 84, and Qassim rounding out the list with 44.