GO Telecom Group, a major telecommunications and digital services operator in Saudi Arabia, has entered the financial services sector by launching GO Money, a new digital lending business built in partnership with Swiss core banking technology company Temenos.
GO Telecom implemented Temenos Core and Digital for Retail Banking to support its new venture. This retail suite includes modules for loan origination, servicing, collections, financial crime mitigation, and Islamic finance. Temenos delivery partner Ejada provided support for the go-live.
GO Money received its final license from the Saudi Central Bank (SAMA) in January 2026 and officially commenced operations in June 2026. The new entity is capitalized with SAR 20 million, equivalent to approximately $5.3 million, from the group.
The offering will initially target retail and micro-financing segments within Saudi Arabia. Other financial institutions in Saudi Arabia that utilize Temenos solutions include Amlak International, Al Rajhi Bank, Saudi Export-Import Bank, and Ziraat Bank KSA.
