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New digital bank JB to launch in Saudi Arabia | Fintech InShorts: Latest fintech news, analysis by experts

New digital bank JB to launch in Saudi Arabia

BankingBusinessPayments

Less than 1 min.Read

New digital bank JB to launch in Saudi Arabia

September 14, 2023

Mike Cunningham announces the launch of JB, a new digital bank, in Saudi Arabia, promising a user-friendly experience.

Facts

JB, described as a “digital leasing and lending platform,” is set to launch in the Kingdom of Saudi Arabia (KSA).
Mike Cunningham, the former chief strategy and digital officer of Banque Saudi Fransi (BSF), confirmed JB’s launch via LinkedIn.
JB originated as BSF’s digital challenger and aims to provide a clear and quick banking experience.
The bank’s name, JB, is derived from the Arabic ‘جيبي’ (jybi), meaning ‘my pocket.’
A countdown clock on JB’s landing page suggests an imminent launch.
Cunningham’s tenure at BSF ended in January, and he stepped down from his role at 77 Ventures in June 2021.
Cunningham previously established the digital banking service Clearly in 2016 and was involved in BSF’s Project AVA.
Project AVA aimed for “hyper localisation” and support “by Saudis, for Saudis.”
JB’s connection to Project AVA and the involvement of 77 Ventures and BSF remain unclear, as Cunningham has not responded to inquiries from Fintech Futures.

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