Open Banking in Saudi Arabia: From Data Access to Real Business Value

Saudi Arabia's Open Banking ecosystem is moving from regulatory development and experimentation toward licensed commercial operation. This working paper examines that transition from a business and product perspective rather than a purely technical or regulatory one. It explores how Account Information Services (AIS) and Payment Initiation Services (PIS) can be transformed into products that improve financial visibility, payment journeys, SME financing, verification, reconciliation, and embedded financial experiences. The paper argues that the real value of Open Banking does not come from opening APIs, but from what businesses build on top of them. Particular attention is given to B2B and SME opportunities in Saudi Arabia, product strategy, monetization models, and the evolution from Open Banking toward Open Finance and Embedded Finance.