Sarmad Launches Thamar to Simplify Saudi Investor Services
▼ Summary
– Saudi fintech firm Sarmad has launched “thamar,” a digital platform designed to transform the investor experience for asset management firms in the local market.
– The platform streamlines operations by digitizing customer-facing and internal employee activities and acts as a bridge between asset managers and distributors.
– Thamar ensures adherence to local regulatory standards and supports compliance, aligning with Saudi Arabia’s Vision 2030 financial sector goals.
– Built to replace fragmented systems, it offers a unified, cloud-native solution with pre-integrated services like omnibus bank accounts and KYC compliance.
– Sarmad plans to expand thamar across the GCC with Generative AI features, enhancing regional distribution and financial inclusion.
Saudi fintech company Sarmad has introduced thamar, a groundbreaking digital platform engineered to modernize investor services for asset management firms. This innovative solution directly tackles the unique requirements of the regional market by delivering a unified system that simplifies operational processes, improves distribution channels, and guarantees adherence to local regulations. Its launch represents a significant stride forward for the Kingdom’s financial digitization efforts in line with Vision 2030.
The platform functions as a comprehensive digital bridge, seamlessly connecting asset managers with distributors while digitizing both client interactions and internal staff workflows. It is specifically constructed to eliminate operational bottlenecks within investment companies, replacing outdated, disjointed systems and manual procedures with a cohesive, cloud-native environment that supports a fluid and expandable investor experience.
Developed in alignment with Saudi Arabia’s Financial Sector Development Program, thamar serves as a strategic tool to advance national objectives for greater financial inclusion and improved investment awareness. Already adopted by several major institutions, the platform is proving its value by boosting operational effectiveness and widening investor accessibility.
Thamar arrives pre-integrated with essential financial infrastructure, including omnibus bank accounts, payment gateways, and automated KYC compliance services. Its modular design allows companies to easily expand their capabilities as their business grows. The platform provides a complete set of digital channels for investors, an internal employee portal for daily operations, and a centralized record-keeping system for portfolios, transactions, client documentation, and accounting.
Furthermore, thamar enables complete operational transparency and supports extended market outreach by integrating with distributors, robo-advisors, and banking partners.
Ali Alomran, CEO and founder of Sarmad, emphasized the platform’s local relevance, stating, “The Kingdom of Saudi Arabia is rapidly emerging as a leading global investment hub. With thamar, we are providing local capital market institutions with sophisticated technology specifically designed for our market, which directly furthers the transformational aims of Vision 2030.”
He added, “As the first platform of its kind in the Middle East, developed collaboratively with Saudi asset managers, thamar makes operations more straightforward, reinforces compliance, and unlocks new avenues for growth by linking asset managers directly with investors and distributors.”
Looking to the future, Sarmad intends to roll out Generative AI-powered functionalities and broaden thamar’s footprint across the GCC region. This expansion aims to establish a regional distribution network that connects investment products with a wider investor community and more diverse sources of liquidity. Through thamar, Sarmad is not just upgrading the asset management landscape in Saudi Arabia but is also playing a vital role in speeding up the nation’s shift toward a digitally advanced and inclusive economic framework.
(Source: Economy Middle East)
