United Financial Services Company: In-Depth Analysis of Growth and Innovation

United Financial Services Company was established in 2020 as one of the Saudi companies specialized in FinTech solutions, operating within the ecosystem of companies affiliated with the United International Holding Company. Since its inception, the company has focused on bridging the gap between traditional financial market needs and digital age requirements by developing electronic consumer financing services and customer verification platforms (KYC/AML).

The company's headquarters is located in Riyadh, and its executive management and board of directors comprise a selection of Saudi talents in finance, technology, and banking operations. The company has set a strategic goal of supporting the Kingdom's Vision 2030 by digitizing financing services and simplifying access to financial solutions for individuals and small and medium-sized enterprises. Since its establishment, the company has distinguished itself by focusing on technological innovation and relying on the latest financial analysis tools and artificial intelligence in customer assessment and electronic verification processes.

The company maintains a private ownership structure, with individual investors and Saudi investment entities participating in its capital, and operates under the supervision of regulatory authorities such as the Saudi Central Bank (SAMA) and the Capital Market Authority. As of the end of 2025, the company remained private and unlisted on the Saudi stock market, with future plans for a public offering.

The activities of United Financial Services Company revolve around providing digital consumer financing services, supported by innovative technologies in the FinTech sector. Its main services include:

- Consumer financing for individuals and small and medium-sized enterprises through advanced electronic platforms.
- Customer identity verification solutions and compliance with banking standards (KYC/AML), in collaboration with banks and financial companies.
- Development of mobile applications that allow customers to complete all financing steps electronically, from application to approval.
- Credit analysis tools that utilize artificial intelligence to improve assessment accuracy and reduce risks.

The company collaborates with government data providers such as Muqeem and the Zakat and Income Authority for digital connectivity and rapid verification. It also seeks to keep pace with changes in Saudi consumer behavior, which has become increasingly demanding for quick and secure digital solutions in financial transactions.

The company is characterized by providing a simplified customer experience, focusing on data security and rapid financing disbursement, enhancing its competitiveness in a rapidly digitizing market.

United Financial Services Company places great importance on governance and sound management as a fundamental pillar of its growth and sustainability. In October 2025, the company witnessed a restructuring of its board of directors, appointing Fawzan Al-Fawzan as chairman and Mohammed Jalal as vice chairman. These changes reflect the shareholders' commitment to maintaining effective leadership and enhancing governance.

The company also announced the formation of an independent technical review committee to monitor the development of technology projects and ensure quality performance. The company's management emphasizes its commitment to transparency in dealings with all stakeholders and the application of best practices in compliance with regulations and instructions issued by regulatory authorities.

The company relies on a team of specialists in digital finance, financial analysis, information security, and risk management. It provides training programs in collaboration with official entities to develop its employees' skills, contributing to an increase in the workforce to over 50 employees by the end of 2025.

Despite its recent establishment, United Financial Services Company has shown significant growth in revenues and profits during 2024 and 2025. The following are the key indicators:

- Operating revenues for 2024 reached approximately 15–20 million Saudi Riyals, compared to 10–12 million Riyals in 2023.
- Revenues are expected to exceed 30 million Riyals in 2025, supported by expanding the customer base and signing new contracts.
- Annual net profit in 2024 ranged between 2–3 million Riyals, with expectations of improved profitability in 2025 due to increased market share.
- Authorized capital rose from 100 to 150 million Riyals by the end of 2024, providing additional resources for technological expansion.

The company bases its profitability on the growing demand for digital financing services and financial technologies, in addition to benefiting from banks and financial institutions' trend towards technological partnerships. Currently, there is no available data on the stock price, market value, or price-to-earnings ratio as the company has not yet been listed on the financial market.

United Financial Services Company continued to establish strategic partnerships with banks and local technology companies in 2024–2025 to enhance its capabilities and expand its customer base. Among these partnerships are:

- A collaboration agreement with a major Saudi bank to develop electronic banking verification services linked to national data.
- Technological partnerships with Saudi financial software development companies to integrate digital platforms and improve user experience.
- A project for financing small and medium-sized enterprises through an integrated electronic platform.

Through these partnerships, the company aims to strengthen its position in the consumer financing market and open new avenues for future growth. These investments are a key lever to achieve its goals in digital transformation and financial innovation.

United Financial Services Company's activities fall within the financial and technological services sector in the Saudi market, which is experiencing increasing competition with the entry of traditional and emerging companies. Among the competitors are:

- Traditional consumer financing companies (such as mortgage and car rental companies).
- Emerging FinTech companies like "Tamara" and "Mada," which offer payment and electronic financing solutions.
- Major local banks that have entered into partnerships with technology companies to accelerate the provision of digital services.

United Financial Services Company enjoys a competitive advantage in its focus on integrating electronic verification and digital financing, in addition to its relationships with banks and software companies. However, competition requires continuous improvement and development to keep pace with rapid innovations in the sector.

United Financial Services Company has witnessed several significant developments during 2024–2025:

- Formation of an independent technical review committee to enhance governance.
- Restructuring of the board of directors and appointing new leadership to ensure administrative stability.
- Launch of a mobile application that allows customers to request financing electronically, with an easy-to-use interface and quick response time.
- Increasing capital to 150 million Riyals to support expansion projects.
- Launching media campaigns to raise public awareness of the company's services and combat financial fraud.

These developments reflect the company's commitment to enhancing its administrative and technological structure in preparation for integration into the Saudi financial market in the near future.

Press sources and official data indicate that United Financial Services Company is preparing for an initial public offering in the Saudi stock market, with expectations that the listing will occur in the "Nomu" parallel market during the last quarter of 2026. Initial estimates suggest a valuation of the company between 200 and 300 million Riyals at the time of the offering.

The IPO is expected to enable the company to raise additional funding to support expansion plans and broaden its investor base, as well as enhance transparency and compliance with financial disclosure. Until the listing, the company is not obligated to provide full periodic disclosures, but it has begun publishing brief financial reports to attract investors and build trust in the market.

United Financial Services Company focuses on developing an integrated digital ecosystem that includes:

- Mobile applications and electronic services that allow customers to apply for and obtain financing without the need for in-person attendance.
- Utilizing artificial intelligence and big data analysis to improve financing decisions and risk assessment.
- Direct electronic connectivity with government databases such as "Muqeem" and the Zakat and Income Authority to expedite identity and income verification.
- Developing Application Programming Interfaces (APIs) to facilitate integration with banks' and partners' systems.

These technological innovations enhance operational efficiency and reduce human errors, giving the company an edge in the rapidly growing Saudi market in terms of digital transformation.

The company places utmost importance on compliance with regulatory systems issued by the Saudi Central Bank (SAMA) and the Capital Market Authority. It relies on strict policies in managing customer data, implementing the latest cybersecurity standards.

Its procedures include periodic audits of data protection systems, training employees on best security practices, and using encryption technologies for sensitive transactions. It also ensures continuous verification of customer identities to mitigate financial fraud risks and issues periodic warnings through its official website against fraudulent entities that may exploit its name.

United Financial Services Company has seen significant growth in its workforce, increasing from fewer than 20 employees in 2023 to over 50 employees by the end of 2025. The team includes specialists in financial analysis, programming, information security, and risk management.

The company invests in human competency development through accredited training programs and workshops in collaboration with official entities, aiming to enhance knowledge in digital financial analysis and compliance with banking standards. This investment in human capital is one of the key factors for the company's success in competing with major financial and technological firms.

United Financial Services Company faces several challenges, including:

- Intense competition from traditional and emerging financing companies.
- The ongoing need to develop technological solutions to keep pace with rapid innovation.
- Increasing regulatory compliance requirements.
- Rising risks of financial fraud in the digital sector.

However, the company also enjoys several growth opportunities:

- Increasing demand for digital financing in Saudi Arabia.
- The trend of banks and companies towards technological partnerships.
- Growing government support for the FinTech sector within Vision 2030.

This dynamic environment requires the company to continue investing in technology and developing human competencies to ensure sustainability and competitiveness.

Although United Financial Services Company has not yet been listed on the financial market, it can be compared with other consumer financing and FinTech companies listed in the "Nomu" or main market. Similar companies often start with capital budgets ranging from 150 to 200 million Riyals, targeting an initial price-to-earnings ratio between 20 to 30 times based on rapid growth expectations.

Estimates suggest that dividends may begin two to three years after the IPO if the company achieves its financial goals. These comparisons remain estimative pending the actual execution of the public offering and the development of financial performance after official listing.