Saudi-based fintech provider Sarmad has officially launched thamar, a comprehensive digital platform designed to revolutionise the customer experience for asset management firms across the Kingdom. The new solution aims to streamline operations by digitising activities for both clients and employees, enhancing regulatory compliance, and creating new growth channels.
A Unified Solution for Asset Management
The thamar platform was developed to address the fragmented systems and manual processes prevalent in the asset management industry. By integrating international business practices with modern technology, it provides a unified, cloud-native solution tailored to local market needs and regulatory requirements. It serves as a central system of record for portfolios, transactions, client documentation, and accounting, giving firms complete visibility and control over their operations. According to the company, the platform has already been adopted by several leading institutions in Saudi Arabia.
Supporting Vision 2030’s Financial Goals
Thamar’s launch is directly aligned with the objectives of the Financial Sector Development Program under Saudi Arabia’s Vision 2030. The platform supports the national effort to improve investment literacy and advance a more inclusive, digital-first economy. By connecting asset managers with a wider network of distributors and investors, thamar aims to enhance distribution capabilities and provide a seamless, accessible investor experience for a broader audience.
Built for The Modern Saudi Market
Engineered with scalability in mind, thamar features a modular architecture that connects directly with government services for seamless electronic Know Your Customer (eKYC) verification. A key feature is its ability to allow each asset management firm to maintain its distinct institutional identity, avoiding a standardised, one-size-fits-all approach. The platform comes pre-integrated with essential services including omnibus bank accounts, payment gateways, and KYC compliance solutions, significantly reducing the operational burden on firms.
Ali Alomran, CEO and Founder of Sarmad, stated, “thamar is the first platform of its kind in the Middle East. Built hand in hand with Saudi asset managers, thamar simplifies operations, strengthens compliance, and opens new growth opportunities by connecting asset managers with investors and distributors.” Looking ahead, Sarmad plans to introduce expanded integrations with distributors, robo-advisors, banks, and additional government services, along with the introduction of generative AI-powered tools.
About Sarmad
Sarmad is a Saudi Arabia-based financial technology company focused on developing innovative solutions for the asset management sector. Its flagship platform, thamar, provides a digital infrastructure to help firms streamline operations, ensure compliance, and enhance the investor experience in line with the goals of Vision 2030.
Source: Fintech News Middle East
