In an interview with Founder and CEO Ahmed Al-Haqbani, Saudi-based fintech SiFi outlined its mission to overhaul how companies manage their financial operations. The startup is entering a market where many businesses still grapple with outdated expense management systems, struggling with everything from multiple transaction types and invoices to slow operational procedures and a lack of real-time spending visibility.
Al-Haqbani explained that as businesses scale, these challenges multiply, putting immense pressure on finance departments. Traditional systems often fail to provide the instant data and analytics needed for finance leaders to make quick, informed strategic decisions.
Quick Facts
- Founder: Ahmed Al-Haqbani, former professional at Microsoft and Cisco.
- Mission: To digitize and streamline corporate expense management.
- Market Focus: Saudi Arabian companies navigating digital transformation.
The Problem with Traditional Systems
Al-Haqbani highlighted a significant disconnect between the legacy tools used by many companies and the demands of a modern finance department. A heavy reliance on manual processes and old software complicates operations and slows down the entire business cycle.
This gap, he noted, has created a clear opportunity for specialized fintechs. SiFi was founded to directly address these issues by building an integrated digital platform that helps organizations automate financial processes, improve oversight on expenditures, and give finance teams better control over cash flow. The core goal is to simplify procedures and reduce administrative complexity.
A Founder’s Journey from Big Tech to Fintech
Before launching SiFi, Al-Haqbani built his career in government entities and global tech giants like Microsoft and Cisco. He described the transition from a large corporate environment to founding a startup as a completely different experience, defined by faster decision-making, broader responsibilities, and the inherent risks of building a tech company in a fast-moving market.
His time in the corporate world provided deep insights into how large-scale operational systems and tech infrastructures are managed. This experience directly informed the architecture and solutions that SiFi now offers its clients.
Saudi Arabia’s Fintech Expansion
SiFi’s launch comes amid a growing wave of Saudi fintech startups focused on B2B solutions. This trend aligns with the rapid expansion of the Kingdom’s digital finance sector, fueled by the objectives of Vision 2030 and increased investment in financial technology and digital infrastructure.
There is a rising demand for cloud-based systems and smart tools that offer businesses more agility in managing their financial and operational processes. As companies grow, so does the need for systems that provide an immediate and accurate view of financial performance and cash flow.
The CFO’s Evolving Role
According to Al-Haqbani, the role of the Chief Financial Officer is undergoing a fundamental shift. The focus is no longer limited to traditional accounting tasks but has expanded to rely heavily on real-time data and analytics to support operational and strategic planning.
Companies are now actively seeking tools that empower their finance departments with greater control over expenses and the ability to analyze data instantly. This shift is aimed at boosting operational efficiency, reducing waste, and accelerating decision-making. The current market dynamics in Saudi Arabia reflect a broader move towards homegrown software solutions designed to streamline business operations and solidify fintech as a key growth sector in the nation’s digital economy.
About SiFi
SiFi is a Saudi-based financial technology company that provides a comprehensive platform for corporate expense management. The company aims to help businesses digitize and automate their financial operations, offering tools for better control over spending, cash flow management, and real-time financial reporting.
Source: Jawlah
