How a Saudi-based Fintech Company, “HALA”, Achieved SAMA Compliance with CyberArrow in Record Speed

An illustration of a Saudi Fintech Company “HALA” that accomplished compliance with the SAMA cybersecurity framework instantly using the CyberArrow Compliance Automation Tool.

About HALA

HALA is a leading fintech player in the MENAP region that aims to redefine financial services and build the future bank of SMEs. HALA empowers SMEs to start, run, and grow their businesses by providing them with cutting-edge financial and technological tools allowing SMEs to manage their inbound and outbound payments in a simple yet safe way. HALA currently holds multiple entities in UAE, Saudi Arabia, and Egypt (including HALA Payments, HALA Cashier, and HALA Logistics) and offers solutions that enable merchants to digitize their payments as well as manage their sales and operations. Founded in 2017, HALA is currently duly licensed by the Saudi Arabian Central Bank as well as the Financials Services Regulatory Authority (FSRA) in Abu Dhabi Global Market.

 

Location: Riyadh, Saudi Arabia

 

Industry: Fintech

The Challenge

Operating in the fintech industry, HALA must comply with the SAMA Cybersecurity Framework to minimize potential cyber security threats while carrying out their business. Officials at HALA are familiar with how governance, risk, and compliance activities are typically conducted, acknowledging that they are time-consuming and draining. 

At first, HALA was struggling with manual compliance practices to accomplish compliance with the SAMA Cybersecurity Framework. After some time, they felt the need to obtain a compliance automation solution that would automatically equip them with the necessary features to achieve compliance through automation.

Solution “CyberArrow Compliance Automation Tool”

CyberArrow enables you to spend less time on GRC tasks as well as audits and assessments. By using the pre-approved documentation (by global auditing houses) available within CyberArrow GRC and connecting with technical integrations HALA was able to free up staff from working on daunting compliance, risk, and governance activities but focus on developing their business instead. While HALA said goodbye to manual spreadsheets and identifying security controls across multiple systems, they could log in to the system to export the status of their SAMA compliance when needed as well as check their automated KPIs to ensure that they are above the required maturity level (3).

CyberArrow Features that HALA found Useful while Achieving Compliance
  • Chat support from CyberArrow’s compliance experts 
  • Security Reports
  • KPI Monitoring 
  • Dedicated Support 
  • Risk Assessment 
  • Security Training 
  • Asset Inventory
  • Third-Party Security
  • Automated Evidence Collection
What HALA’s CISO says about CyberArrow

CyberArrow GRC is amazing. It has all my expectations and satisfies the agility for modern Fintech companies. I found it user-friendly and powerful, hence I would highly recommend it to any organization that wants to boost its cybersecurity capabilities.”

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