SIMAH and modefinance international sign a strategic partnership in Saudi Arabia

modefinance 3 October 2022

The deal, officialized on September 15th, has been signed by SIMAH CEO Swaied Al Zahrani and modefinance international CEO Cristian Giacomini in Riyadh. One of a kind, it will involve the introduction of credit risk AI and advanced tech solutions for different players involved in analyzing corporates, SMEs and banks, in the entire financial ecosystem.
Thanks to the combined expertise, an effective added value in terms of credit risk underwriting and decision making support will be widely distributed among key players, making it applicable on different levels - from a single invoice/transaction analysis to more complex facility approval, leveraging the AI skills and big data science techniques internally developed. 
Founded in 2002 and started operation in 2004, Saudi Credit Bureau (SIMAH) is the first national credit bureau in Saudi Arabia licensed to provide both consumer and commercial world class products and services. Simah is considered the market leader in Saudi Arabia and offers data-related products to major Saudi banks, corporations, fintechs, institutions and investment funds.

"The partnership represents the biggest alliance within the credit industry risk services, evidence of the market's evolution: the traction and efficiency of an innovative and recognized Credit Bureau, and the capabilities of a Fintech Rating Agency, joining forces to face up the economy's challenge, serving the entire ecosystem with their integrated solutions." are Cristian Giacomini words.

Information and technologies have the power to shape all experiences where each figure has a value. To make this happen, the partnership dives into the pool of traditional financial information, alternative data and AI tech solutions. The final aim is to increase the consciousness on the lender and the investor sides, with trust and confidence, enabling all credit providers to form a clear image of prospective borrowers, buyers and risks.