Open Banking (Payment Initiation Services) Advisor

About Us:

Sanabil Venture Studio, a partnership between Sanabil Investments and Stryber, merges top-tier talent, seasoned founders, and robust funding to propel startups to unicorn status. Leveraging a blend of industry, technology, and startup expertise, we generate and evaluate visionary ideas, and take them from idea to building and launching MVPs. If an MVP we build proves to be successful, we provide targeted seed funding, ensuring each venture is equipped with the financial foundation to meet its ambitious goals. Beyond early stage development and funding, we provide ongoing support to our portfolio ventures and founders in their pursuit of scaling their startups.

Our latest endeavor is a Payment Initiation Service Provider (PISP) venture in Saudi Arabia. This company leverages the upcoming PISP framework under the Saudi Central Bank (SAMA) Open Banking initiative to transform how businesses and consumers initiate and manage payments. By enabling secure, real-time account-to-account (A2A) payments, we aim to provide seamless, cost-effective, and innovative payment solutions to businesses and consumers alike. Our vision is to become a leading player in the Kingdom’s rapidly evolving fintech ecosystem, empowering merchants and consumers with smarter, faster, and more efficient payment options.

As an Advisor for our PISP venture, you will play a pivotal role in guiding the venture’s strategic direction and operational execution. Leveraging your expertise in financial services, fintech, or payments, you will provide valuable insights to shape our product, market strategy, and partnerships. Your experience navigating regulatory frameworks and building scalable financial ventures will help us make informed decisions as we grow. If you are passionate about revolutionizing the payments landscape and want to contribute to the success of a groundbreaking fintech venture in Saudi Arabia, we want to hear from you! 

This role has the potential to evolve into a founding team position, offering a unique opportunity to shape the venture’s long-term vision and success.

As an Advisor for our company, you will play a key role in driving our success by:

• Assisting in testing and validating key hypotheses critical to launching and scaling the venture, ensuring that strategic decisions are data-driven and aligned with market needs.
• Providing strategic guidance on aligning our business model with SAMA’s Open Banking Framework and other regulatory requirements.
• Taking a hands-on approach to support key activities, including market research, product prototyping, and partnership negotiations, ensuring that strategic initiatives are implemented effectively.
• Offering insights into market trends, customer needs, and competitive landscapes within the Saudi fintech ecosystem.
• Advising on product development, ensuring alignment with market demands and regulatory compliance.
• Assisting in building partnerships with banks, fintechs, and key stakeholders to accelerate our growth.
• Helping refine our go-to-market strategy to optimize customer acquisition and transaction volume.
• Providing mentorship to the founding team, offering advice on scaling the business and navigating challenges.
• Ensuring risk management, compliance, and security measures are robust and in line with best practices.

 

About you:

• You have extensive experience in financial services, payments, or fintech, with a focus on open banking and payment systems.
• You are familiar with the regulatory landscape in Saudi Arabia, including SAMA’s Open Banking Framework.
• You have a proven track record of advising or leading financial ventures, startups, or major projects within the fintech ecosystem.
• You bring deep knowledge of A2A payments, consumer payment behavior, and emerging payment technologies.
• You possess exceptional analytical and problem-solving skills, offering actionable recommendations to drive success.
• You are a strategic thinker with a strong ability to navigate complex regulatory and operational environments.
• You thrive in collaborative settings, working closely with founders and key stakeholders to achieve ambitious goals.

Plus:

• You have experience working with international fintech companies and bringing best practices to local markets.
• You hold an advanced degree in finance, business, or a related field.
• You are passionate about driving financial inclusion and digital transformation in Saudi Arabia.

Join us as an Advisor and be part of a venture that will redefine the payment experience in Saudi Arabia, shaping the future of financial services in the region!