TPS Worldwide, a global provider of digital banking and payment technology, has announced the expansion of its operations to Saudi Arabia with the support of AstroLabs, a leading business expansion platform. 

 

With over 28 years of experience and a presence in more than 30 countries, TPS empowers banks, fintechs, corporates, government and financial institutions with secure, scalable, and innovative systems. TPS’s solutions include wallet management, card issuance, digital banking applications, instant payments, open banking, and merchant acquiring, bundled with various digital transformation services, serving 100+ clients globally.

 

Saudi Arabia now becomes the latest market for TPS’s direct on-the-ground presence. This expansion allows TPS to deliver localised, custom-tailored solutions, while enhancing its ability to serve a diverse client base across the Middle East, South Asia, Africa, and Europe.

 

Unique services

Alex Nicholls, AstroLabs’ head of expansion, said: “We are joining forces with TPS Worldwide to bring its unique services that are bound to unleash the new wave of banking and financial services nationwide, aligning perfectly with the goals of the Financial Sector Development Programme (FSDP) and Vision 2030. It marks a key milestone in its continued growth and a commitment to empowering companies in Saudi Arabia with the right tools and technologies that help them mitigate risks, streamline payment processes, and stay ahead of the curve of digital advances.”

 

Group CEO of TPS Worldwide, Shahzad Shahid, said: “TPS’ expansion of operations in Saudi Arabia reflects our commitment to the kingdom, driven by the growing demand for information technology and professional services in alignment with Vision 2030.”

 

“As we expand our presence in the kingdom, we are focused on delivering innovative solutions that empower government entities, financial institutions, corporates, fintechs, and SMEs. From digital transformation to specialised IT services, payments, and open banking to cybersecurity and AI, our goal is to drive growth, efficiency, and transformation across sectors,” Shahid added.

 

Localised solutions

As part of its expansion strategy, TPS is focused on providing localised solutions that align with the nation’s Vision 2030 initiative. In addition to its core offerings, TPS is committed to introducing a suite of advanced services to further empower banks, fintechs, government entities, and SMEs in the region, including:

●Banking-as-a-Service (BaaS): Offering fully integrated digital banking services, from seamless onboarding to account management, payments and lending. 

 

●Digital Lending Solutions: Enabling SMEs to access capital more easily through efficient digital loan application and approval processes. 

 

●Managed Services and Tech Operations: Providing comprehensive IT infrastructure management to ensure operational efficiency and system reliability for financial institutions and businesses.

 

●Skill Augmentation: Offering specialised talent in software development, cloud management, cybersecurity, AI and digital transformation, enabling organisations to scale their IT operations.

 

●Cybersecurity and Risk Management: Delivering end-to-end cybersecurity solutions to safeguard critical financial data, enhance compliance, and mitigate risks.

 

●AI Driven Digital Transformation Services: Helping organisations modernise their operations by integrating AI, cloud, and automation technologies to increase efficiency and improve customer experiences

 

●Supply Chain Digitisation: Digitising traditional supply chains, embedding digital payments and financial services within the value chain of corporations, manufacturers, distributors, and retailers. By leveraging ERP integration, workflow automation, and contextual data insights, TPS helps businesses streamline their operations, improve cash flow management, payment reconciliation, and drive greater efficiency across their supply chains.

 

Global expertise

As Saudi Arabia rapidly transitions towards a digital-first economy under Vision 2030, TPS is poised to play a pivotal role in supporting this transformation. By establishing a direct presence in the kingdom, TPS aims to leverage its global expertise and innovative solutions to empower local businesses, fintechs, and financial institutions. 

 

The combination of Saudi Arabia's robust financial infrastructure, coupled with TPS’s advanced technology stack and commitment to innovation, creates a strategic synergy that will drive payments innovation, enhance financial inclusion, and accelerate the country’s shift towards a cashless economy.

--TradeArabia News Service