Riyadh - Exclusive Sharikat Mubasher: Bwa for Information Technology (BwaTech), a leading Saudi fintech company, is gearing up to launch two new products this year, with plans to expand its cash management and letter of guarantee services within the upcoming period, Co-founder and CEO Hashem Alhekail revealed in an interview with Sharikat Mubasher on the sidelines of Seamless Saudi Arabia 2024.

He clarified that the first product targets easing point-of-sale (POS) reconciliation processes with banks, serving as an intermediate between the merchant and the bank that collects data, reconciles it, and provides final reports for both parties.

The second product is Bwa Invest, a platform offering a safe and transparent marketplace for Mutual Funds to investors, Alhekail noted.

The new platform, authorized by the Capital Market Authority (CMA), will serve as an alternative channel to reach new segments and different types of customers, facilitating the onboarding process and allowing asset managers to focus on their management details.

Alhekail further revealed that BwaTech will sign six different agreements with fund managers and other partners, in a move to upgrade its services.

BwaTech is permitted by the Saudi Central Bank (SAMA) to operate within SAMA’s Sandbox environment. It offers a wide range of innovative products and solutions catering to financial institutions, corporates, SMEs, fintech companies, and individuals.

Seamless Saudi Arabia 2024 takes place in Riyadh from 22 to 24 October, bringing together industry leaders, decision-makers, SMEs, startups, and government representatives from around the world.

the event provides in-depth discussions covering a wide range of subjects, from digital banking to the integration of technology in retail environments.