Under the MoU, both companies plan to enhance customer convenience and financial inclusion by enabling faster, more reliable international remittances, transparent digital transactions, and improved access to MoneyGram services via D360 Bank’s infrastructure.
D360 Bank is Saudi Arabia’s first fully-digital bank licensed by the Saudi Central Bank and operating under Sharia compliance. Its investor base includes the Public Investment Fund and Derayah Financial. Established with the goal of serving individuals and small to medium enterprises through technology-driven, user-friendly banking, the bank uses data-driven strategies to align with broader economic reform initiatives.
Recent company metrics show that D360 has onboarded over one million customers within its first four months of operation, facilitating more than 51 million transactions across over 100 countries, with a total volume exceeding SAR 50 billion. This performance is seen as evidence of strong demand for digital financial services in Saudi Arabia.
MoneyGram, which has a global retail footprint of hundreds of thousands of locations in more than 200 countries and territories, views the deal with D360 as a strategic move to deepen its reach in the Middle East. Its goal is to make remittances smoother and to leverage D360’s digital touchpoints to broaden customer access.
D360 is also preparing for a Series A funding round, targeting new international investors and aiming to support its expansion into SME services and individual lending. Future plans include growing its customer base to four million accounts, enhancing regulatory compliance, and expanding product offerings.
Derayah Financial has recently completed a technical integration with D360 to enable cash transactions exceeding SAR 100 billion over the next five years. The move is intended to unify platforms and broaden the financial ecosystem by combining Derayah’s asset management and brokerage services with D360’s digital banking capabilities.
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Saudi Arabia