The Saudi Central Bank (SAMA) and the Capital Market Authority (CMA) released the results of the 'national fintech adoption survey', designed to measure the level of the people's interest in embracing fintech solutions and developing a clear understanding of how the fintech industry supports individuals and companies while streamlining their daily financial operations and activities. The survey focused on five key areas: cash usage, fintech activities, banking relationship, open banking, and environmental, social and governance goals.

Regarding cash usage, the survey revealed that despite the overall decline in the average number of cash payments, 60% of individuals still use cash at least once a week. Also, while only 18% of individuals between ages 16 and 22 use cash every day, 46% of those aged 60 and above have this habit. As for fintech activity, 74% of individuals (3 out of 4) have used at least one fintech solution with an adoption rate similar among both men (75%) and women (73%). For companies, 47% of companies search for solutions to improve/automate business operations, while 43% of companies search for solutions to raise capital, and 42% of them focus on improving business security.