Open Banking Business Lead

The Open Banking Business Lead will drive the bank’s Open Banking strategy, partnerships, and commercial model in Saudi Arabia, ensuring alignment with SAMA regulations, market trends, and the bank’s digital transformation objectives. The role will act as the primary business owner for Open Banking initiatives, working closely with Technology, Compliance, Legal, Risk, Product, and Partnerships teams to deliver scalable and secure Open Banking propositions.

 

Key Responsibilities

1) Strategy & Vision
    •    Define and own the bank’s Open Banking strategy in KSA in alignment with SAMA regulations and market evolution.
    •    Develop a clear roadmap covering:
    •    Account Information Services (AIS)
    •    Payment Initiation Services (PIS)
    •    Data sharing use cases
    •    Third-party provider (TPP) ecosystem strategy
    •    Identify new business models and revenue opportunities enabled by Open Banking (APIs, partnerships, data monetization, embedded finance)

2) Regulatory & Market Leadership (KSA Context)
    •    Act as the primary business representative with:
    •    SAMA
    •    Local Open Banking players (e.g., Tarabut, Lean, Mojaz, Saudi Fintechs)
    •    Industry working groups and committees
    •    Ensure business compliance with:
    •    SAMA Open Banking Framework
    •    Data privacy and consent management requirements
    •    Cybersecurity and risk standards
    •    Stay updated on KSA regulatory changes and market developments related to Open Banking.

3) Product & Use Case Development
    •    Lead definition of Open Banking use cases, including but not limited to:
    •    Personal finance management (PFM) integrations
    •    Merchant payments via Open Banking
    •    Lending & credit decisioning via bank data
    •    Wealth & investment data sharing
    •    Cross-bank account aggregation
    •    Work with Digital Banking, Payments, and Retail Banking teams to embed Open Banking into customer journeys.

4) Partnerships & Ecosystem Management
    •    Build and manage relationships with:
    •    Fintechs
    •    TPPs (Third-Party Providers)
    •    API aggregators (e.g., Tarabut, Lean)
    •    Big tech and payment players
    •    Negotiate commercial terms for API usage, data access, and revenue sharing models.
    •    Define partner onboarding framework, including technical, legal, and risk requirements.

5) Commercial Model & Business Performance
    •    Develop and manage the Open Banking commercial model, including:
    •    API pricing strategy
    •    Partner revenue models
    •    Cost vs. value analysis
    •    Define KPIs such as:
    •    Number of active TPPs
    •    API call volumes
    •    Revenue from Open Banking
    •    Customer adoption metrics
    •    Track and report business performance to senior leadership.

6) Cross-Functional Leadership

Work closely with:
    •    Technology – API design, performance, and reliability
    •    Risk & Compliance – consent management, fraud prevention, and regulatory adherence
    •    Legal – contracts and data-sharing agreements
    •    Digital Banking & Payments – integration into customer journeys
    •    Cybersecurity – security controls and data protection

Act as the bridge between business and technology.