Riyadh-based fintech startup Amwal Tech has achieved a significant milestone by securing a United States patent for its innovative biometric authentication technology. This achievement underscores the growing influence of MENA-based companies on the global technology stage and sets a new benchmark for security and identity solutions originating from the region.
A Global Benchmark in Security Innovation
The patent, titled “Security registration and authentication systems and methods for extending OpenID security standards for passkey authentication,” places Amwal Tech in the esteemed company of global technology leaders such as Apple, Okta, and Sony. This official recognition validates the company’s cutting-edge approach to creating secure, frictionless identity and authentication systems, proving that world-class innovation can be engineered and scaled from within the MENA ecosystem. The patent highlights the startup’s deep technical expertise and its commitment to advancing global security standards.
Redefining MENA’s Fintech Infrastructure
As a seed-stage company founded in 2022, Amwal Tech is focused on redefining fintech infrastructure by providing solutions for banking-powered Buy Now, Pay Later (BNPL), frictionless payments, and identity orchestration. This patent is not just a technical victory but a symbolic one, demonstrating the capability of young regional startups to compete and lead in highly competitive global sectors. The achievement has been celebrated by its investors, including Shorooq Partners, as a breakthrough moment for MENA-born innovation.
About Amwal Tech
Founded in 2022 by Mohamed Zaghoo, Sameh Galal, and Reda Reda, Amwal Tech is an emerging leader in embedded software products headquartered in Riyadh, Saudi Arabia. The company helps customers, merchants, and banks make purchases more affordable and secure through its patented solutions in identity orchestration and frictionless payments. In addition to its US patent, Amwal Tech is a VISA Everywhere Innovative regional winner and has been recognized for having the most innovative authentication-based checkout solution in the region.
Source: Shorooq Partners
