Saudi National Bank (SNB), in collaboration with the Ministry of Hajj and Umrah, has launched the world's first international digital wallet of its kind, Nusuk Wallet by NEO, after obtaining the trial approval from the Saudi Central Bank. This digital wallet provides a convenient and secure way to store and manage the funds and expenses of pilgrims and Umrah performers within the Nusuk application. Supported by advanced banking infrastructure and operated by SNB through its subsidiary brand NEO, this digital wallet is considered a convenient and secure means to manage the funds of pilgrims and Umrah performers.

Nusuk Wallet by NEO, available within the Nusuk application, utilizes the latest emerging technologies and encryption techniques to ensure the highest security standards for user financial transactions. This collaboration between SNB and Nusuk sets a new standard for innovation in the region, providing pilgrims and Umrah performers with a convenient, reliable, and secure means to manage their funds.

Saleh Al-Furaih, CEO of SNB’s Digital Ventures and Payments Co, an SNB subsidiary, expressed his pride in this collaboration with the Ministry of Hajj and Umrah, which resulted in the launch of Nusuk Wallet by NEO within the Nusuk app. He stated that this is a step towards achieving the Kingdom's Vision 2030 for digital transformation and providing a seamless and secure financial experience for pilgrims and Umrah performers.

He further explained that the launch of this digital wallet aims to provide an innovative solution that facilitates the safe and easy management of funds for pilgrims and Umrah performers without the need to carry cash. This represents a qualitative leap in the field of technological services, as the wallet combines modern technology with user needs and integrates the latest technologies such as artificial intelligence, encryption, and biometric identity verification. It is also the first embedded open-loop digital wallet within an application in the world, designed to enable pilgrims and Umrah performers to manage their funds during their stay and performance of their rituals, in compliance with the regulations set SAMA, ensuring the highest standards of financial security. This compliance confirms the commitment of both SNB and the Ministry of Hajj and Umrah to provide a trusted financial solution for pilgrims and Umrah performers.

Dr. Al-Furaih expressed his gratitude to the Saudi Central Bank for their support and approval of the trial launch of the Nusuk Wallet by NEO technology within Nusuk for the initial phase. He also appreciated their continuous support and collaboration in developing innovative financial solutions.

The Saudi National Bank, the largest financial institution in the Kingdom, continues to work on improving and developing its services and products to meet the needs of all customers and keep pace with the rapid growth in digital technology as part of its strategy to effectively contribute to achieving the goals of the Financial Sector Development Program, which is a fundamental pillar of the Kingdom's Vision 2030 to enhance the digital economy and support technological innovation in financial services.