Unstoppable Starts Here: Localisation and Speed in the GCC, with Jeff Parker and Ahmed Gaber

Quick Summary

The transition from global aspirations to local success requires more than just a scalable platform. In this episode of the FF Presents series, Unstoppable Starts Here, Jeff Parker of Paymentology and Ahmed Gaber of CoorB explore the nuances of operating within the GCC. They discuss how Saudi Arabia has moved beyond basic digital transformation into a phase of maturity, where the ability to navigate local regulations and integrate with domestic switches like mada defines the leaders in the space.

Why is localisation critical for payment success in the GCC?

While Paymentology operates in 70 markets, Jeff Parker explains that being global is only an advantage if it is paired with deep local understanding. Localisation involves having people on the ground who understand specific regulations, operate in the correct time zones, and speak the language. In Saudi Arabia, this extends to technical requirements, such as specific regulations regarding where data is hosted and how transactions are processed. A fundamental requirement for any provider in the Kingdom is the ability to integrate into mada, the local payment switch. Without these local layers, global technology remains ineffective.

How fast can payment infrastructure be implemented in the region?

Implementation speed is often a primary concern for banks and fintechs. Jeff Parker notes that Paymentology recently completed a full end to end bank implementation in the GCC in just under six months, which Mastercard cited as the fastest ever in the region. While extreme examples with narrower use cases could potentially be completed in six weeks, the typical timeline is influenced by the orchestration of various partners, including schemes and local ecosystems. Once the core infrastructure is established in the region, the technical deployment should not be more difficult than in any other market, provided the orchestration between all parties is seamless.

What is the current state of digital maturity in Saudi Arabia?

Ahmed Gaber highlights that Saudi Arabia has moved past the initial transformation mode. With over 90 percent of payments now being digital and 95 percent of government services digitised, the market is now in a stage of refinement and maturity. For CoorB, the focus is no longer just on finding the best technology in the world, but rather the most suitable technology for the region. As a startup that has reached a stable five year milestone, CoorB relies on agility and trust to compete with multi billion dollar legacy providers. Ahmed Gaber suggests that the market now favours players who have physical offices and people in the region, rather than those attempting to serve the market from afar.

How do providers meet evolving customer expectations without creating legacy?

Meeting expectations requires a shift from pushing pre made solutions to understanding specific customer needs. Jeff Parker explains that Paymentology follows a SaaS model that prioritises configuration over customisation. By avoiding bespoke solutions for individual clients, the company ensures that any new feature built for one customer becomes available to the entire platform. This approach requires more thought and investment upfront but prevents the platform from falling into the trap of becoming a legacy system. Ahmed Gaber agrees, noting that the agility of modern providers is what allows them to take market share from older, less flexible software providers.

FF NEWS TAKE:

The conversation between Paymentology and CoorB underscores a vital shift in the fintech power dynamic. Global scale is no longer a sufficient barrier to entry; the real moat is the ability to wrap sophisticated technology in local regulatory compliance and service excellence. As Saudi Arabia enters its maturity phase, the winners will be those who can balance the standardisation of SaaS with the high touch demands of the GCC market. By focusing on configuration rather than bespoke builds, providers can maintain the agility needed to keep pace with a region that is digitising faster than almost any other in the world.