Riyadh – Sahm Capital Financial Company (previously known as VCFC), a leading Fintech firm based in Riyadh, has announced a strategic partnership with SCCC, a leader in cloud services in Saudi Arabia. This partnership aims to enhance the online trading experience for domestic investors by leveraging advanced cloud technologies, ensuring reliability and performance.

The signing of a Memorandum of Understanding between the firms took place at LEAP 2024, a premier technology conference in Riyadh. Through this partnership, Sahm Capital and SCCC will collaborate on developing innovative cloud solutions tailored to the needs of investors.

Cloud computing is increasingly critical for modernizing financial systems and powering the digital transformation of core business processes. By leveraging secure, scalable cloud infrastructure, financial firms can provide better services to customers through streamlined operations, higher performance, and lower costs.

Speaking at the signing ceremony, Hadeel Bedeeri, General Manager of Sahm Capital, said: "This partnership opens up exciting possibilities for Sahm Capital to deliver more reliable and advanced experiences to our users. Leveraging SCCC Alibaba Cloud's world-class infrastructure will help propel our growth as we continue expanding offerings to investors across Saudi Arabia.”

Launched in December 2023, Sahm Capital's all-in-one trading platform 'Sahm' supports both Arabic and English. The app incorporates robust market data, educational resources, and a user-friendly interface optimized for mobile. Through strategic collaborations with SCCC, Sahm Capital is demonstrating its leadership in powering the digital transformation of Saudi Arabia's financial services industry in line with Vision 2030.

About Sahm Capital:

Registered in Riyadh, Sahm Capital (previously known as VCFC) is a joint venture company of Valuable Capital Group Ltd and eWTP Arabia Capital. Sahm Capital is also a registered member of the Saudi Stock Exchange, Tadawul, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). The company is also a member of Mena Fintech Association and Middle East Africa and Asia Crypto and Blockchain Association (MEAACBA). or more information about Sahm platform, visit https://www.alsahm.com.

About SCCC:

Saudi Cloud Computing Company (SCCC) is a joint venture and a leading hyperscaler in Saudi Arabia, formed through strategic alliances with industry giants: stc Group, Alibaba Cloud, eWTP Arabia Capital, SCAI, and SITE. Specializing in IaaS, PaaS, and SaaS, SCCC is at the forefront of accelerating digital transformation throughout the Kingdom. By leveraging partnerships with global technology leaders, SCCC offers localized, advanced solutions that ensure data sovereignty and cater to the comprehensive digital infrastructure needs of both government and enterprise sectors. Committed to customer-centric cloud services, SCCC empowers businesses with the innovative tools necessary for operational efficiency and growth, solidifying its role as a critical enabler of technological advancement in the region.

For more information, visit alibabacloud.sa