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Saudi Esports Federation and MasterCard collaborate with SNB to improve esports in the Kingdom

By Naman Alok | Jan 23, 2023 | 4 Min Read follow icon Follow Us

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The Saudi National Bank (SNB) is one of the biggest economic forces in the area and the biggest financial institution in Saudi Arabia. By reshaping the local banking industry and accelerating the implementation of Saudi Arabia’s Vision 2030, SNB plays a crucial role in assisting the country’s economic development. The Vision’s projects and its strategies are very similar. The largest institutional and specialised financier in the Kingdom, SNB also uses this position to its advantage in order to promote the Kingdom’s megaprojects and historic deals. Through the accomplishment of its strategic aspirations, SNB aspires to become a leading provider of financial and banking services on a local and regional scale. These aspirations include being the best in the world at providing Shariah-compliant products, as well as the best in terms of customer service, profitability, and digital banking. Saudi Esports Federation and MasterCard collaborate with SNB to improve esports in the Kingdom

About SEF

The Saudi Esports Federation is the organisation in charge of overseeing the development of the gaming community and industry in Saudi Arabia as well as the training of top-tier athletes. The federation’s operations can be divided into two complementary streams. Starting at the grassroots level in the community and progressing up to professional esports athletes who can attain global excellence, the first stream works to nurture competitive gamers at all levels. By supporting talent and stimulating the sector, the second stream aims to build the whole value chain for gaming and esports.

The federation was founded in late 2017 and has already staged a number of top-tier national and international competitions and events, received funding from local private-sector players, and collaborated with foreign developers on business potential in Saudi Arabia.

About MasterCard (NYSE: MA)

The payments industry’s leading worldwide technology company is MasterCard. Our goal is to make transactions safe, easy, smart, and accessible in order to link and power a global, inclusive digital economy that benefits everyone. Our innovations and solutions enable people, financial institutions, governments, and organisations to reach their full potential by utilising secure data and networks, relationships, and enthusiasm. Our culture and all that we do both inside and outside of our firm are driven by our decency quotient or DQ. We are creating a sustainable future that opens up precious opportunities for everyone by connecting people in more than 210 nations and territories.

Saudi Esports Federation and MasterCard collaborate with SNB to improve esports in the Kingdom

Riyadh, Kingdom of Saudi Arabia – In order to speed up Saudi Arabia’s digital transformation and improve its gaming and esports infrastructure, Saudi National Bank signed a strategic collaboration deal with MasterCard and the Saudi Esports Federation (SEF) during the SEF Awards. The partnership will expand on MasterCard’s longstanding partnership with SEF to boost the billion-dollar gaming sector in the Kingdom.

The three organisations will work together to research and create cutting-edge financial products and services that provide value and improve the gaming experience. The arrangement will make use of the resources, experience, and networks of all three partners to cater to Saudi Arabia’s young and gaming communities, in keeping with MasterCard’s objective to foster precious experiences for consumers to delight in.

Also Read Indian esports teams will compete at the Hangzhou Asian Games in 2023

The Head of the Retail Business Group at SNB at the time, Saud Abdulaziz Bajbair, stated: “This partnership demonstrates the importance of the private sector’s role in supporting the overall development movement in the Kingdom of Saudi Arabia under Vision 2030. The Kingdom will become a major hub for gaming and e-sports thanks to this agreement, which is a crucial step in the diffusion of new digital technologies.

The partnership is based on the significance of and burgeoning e-gaming market in Saudi Arabia. By encouraging innovation to propel more breakthroughs in this industry, it hopes to strengthen the presence of e-gaming and take advantage of its potential and capabilities. This action also demonstrates SNB’s interest in the growth of the e-gaming community and industry in Saudi Arabia by assisting in the development of a sector that is growing in popularity among a sizeable portion of Saudi society.

We are aware of the potential impact that gaming has. We hope to unleash the gaming potential of the Kingdom through our collaboration with MasterCard and SNB, strengthening the gaming environment there and encouraging even more innovation. This will help so many people, for years to come, and will distinguish the Kingdom as a desirable location for investment while delivering cutting-edge gaming experiences, according to Ahmed Al Bishri, Chief Operations Officer of the Saudi Esports Federation.

We are excited to work with SNB and SEF, two organisations with similar goals that are committed to advancing digital transformation, fulfilling Saudi Arabia’s innovation potential, and accomplishing its Vision 2030. The historic partnership is on track to highlight the cutting-edge innovations that are essential to the Kingdom’s development as a premier centre for gaming and esports, as well as, more broadly, for business, tourism, leisure, and innovation. According to Mete Güney, Executive Vice President of Services, EEMEA at MasterCard, “Together, we seek to build on the efforts of the Saudi leadership to strengthen the local gaming industry, bolstering it to deliver truly immersive and memorable experiences for gamers across the Kingdom and bridging these experiences across physical and digital realities.

Through this agreement, SNB, SEF, and MasterCard will develop and unlock new Web3-powered activities that will provide players access to exclusive perks and immersive experiences in both the real world and the virtual one. Gamers, developers, and collectors will all have a place to define and own the future of Saudi esports in this unique digital community and experience. Access to virtual creations will be available to community members for use in immersive experiences and digital games.

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