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Elm and the Social Development Bank Seal a Collaboration Agreement at LEAP 2023


On the sidelines of LEAP 2023, the Social Development Bank (SDB) entered into a partnership with Elm, a pioneer of digital solutions, with the aim of integrating with government entities and providing high-quality services to users through the digital transformation of its offerings, resulting in easy-to-use services and customer satisfaction.

SDB's CEO, Mr. Ibrahim bin Hamad Al Rashid, and Elm's CEO, Dr. Abdulrahman bin Saad Aljadhai, sealed an agreement to collaborate on the development of technical systems and the provision of services and data exchange connectivity, following the connectivity guidelines approved by both parties.

Under the agreement, Elm and SDB will jointly develop solutions and products that best leverage SDB's user data, and create cutting-edge risk analysis tools using advanced models and machine learning techniques. These endeavors are in line with the Saudi Vision 2030 aiming to support growing economies and the financial and funding solutions available to them.

"The objective of this agreement is to utilize Elm's capabilities to drive digital transformation, modernize the SDB's operations to meet the demands of key and emerging sectors, enhance the quality of data, and build trust in it. SDB is eager to make a step forward in its e-services to keep up with user expectations, save time and effort, and guarantee data quality. SDB has implemented direct and reliable communication services for efficient notifications and alerts through various channels, which supports increased productivity and improves the efficiency of its applications and services", said Mr. Al Rashid.

"We are pleased to sign this agreement with SDB, marking the start of a strategic partnership with this leading development institution that represents a critical partner for us. Through this agreement, we will remain ahead of the curve in terms of digital transformation requirements and incorporate the best global practices and experiences in the field of technical solutions and the creation of advanced and innovative services. Our goal is to help SDB modernize its processes and elevate the quality of its business and services with our cutting-edge digital solutions. These solutions help enhance performance, increase the efficiency of services and work processes, and ensure customer satisfaction", said Dr. Aljadhai.

Concluding this agreement during LEAP 2023 indicates the growing importance of this global event as a strategic networking platform for technology pioneers, and a space to discuss the challenges and opportunities of smart transformation and shape the digital future. SDB and Elm took part in this event to support the innovative economy, promote the adoption of advanced technologies, and launch leading digital projects that will advance various sectors in the Kingdom and pave the way for their prosperity and success, in line with the aspirations of Saudi Vision 2030.

The second edition of LEAP 2023 took place in Riyadh from February 6th to 9th under the theme "Into New Worlds". This event helps advance the digital sector in the region, showcase the latest technological developments and ways to leverage them to modernize businesses across industries. LEAP 2023 is also a key platform that brings together top technology companies and thought leaders.