Riyadh - Sharikat Mubasher: Themis, a leading global provider of anti-money laundering (AML) software solutions, officially launched the first AML and Know-Your-Finance (KYF) company in Saudi Arabia, Tathabbat.
Tathabbat aims to empower Saudi financial institutions and designated non-financial businesses and professions (DNFBPs) by offering cutting-edge KYF/KYC tools and solutions, the company announced in a press release.
The venture will play a pivotal role in bolstering the Kingdom's AML and counter-terrorist financing (CFT) frameworks while strengthening transparency and regulatory compliance. Additionally, it marks a significant step in Saudi Arabia's compliance landscape, aligning with Vision 2030 and the Kingdom’s push to adopt world-class KYF standards.
Ali Alasiri, CEO of Tathabbat, said: “Saudi Arabia's Vision 2030 is transforming the region into a global financial hub. We are thrilled to partner with Themis to introduce Tathabbat, which will provide essential KYF support for businesses in this rapidly evolving market."
On his part, Dickon Johnstone, CEO of Themis, stated that the company’s investment in Saudi Arabia is a testament to the strategic importance of the region. “With Tathabbat, we are committed to building a safer financial ecosystem by providing local institutions with cutting-edge tools to fight financial crime,” Johnstone said.
Launching the new venture reflects Themis’ commitment to helping Saudi businesses meet compliance standards and thrive in an increasingly regulated world.
In January, Themis announced the launching of its state-of-the-art financial crime risk management cloud service hosted in Saudi Arabia as part of a broader strategy to deliver advanced financial crime prevention solutions to cater to the Kingdom’s rapidly evolving financial and regulatory landscape.
