ALPTech Expands To Saudi Arabia With AstroLabs For AI Innovation In Banking And Fintech

ALPTech, provider of AI and analytics solutions worldwide, has recently expanded its operations into Saudi Arabia by opening a new office in Riyadh. This strategic move, facilitated by AstroLabs, the Gulf region's premier business expansion platform, aligns with the Kingdom’s growing role as a major player in the global AI economy.

Saudi Arabia's commitment to AI and its progressive policies have positioned it as a prime location for testing and implementing large-scale data solutions, making it an attractive market for ALPTech's innovative services.

The Kingdom is now recognised as a key global market for AI talent, ranking 14th worldwide and first in the Arab world, according to the 2024 Global AI Index. It's also among the top ten internationally for AI talent density. This reputation underscores Saudi Arabia's potential to become a hub for financial innovation, supported by its top-notch infrastructure.

Alex Nicholls, director of expansion at AstroLabs, said, “The Kingdom's position as a financial innovation hub, supported by world-class infrastructure, makes it an ideal location for ALPTech's regional expansion. Establishing a dedicated office and local entity is the first step in pioneering new AI-based processes and advanced analytics to drive innovation across the financial services sector.”

Since its inception in 2019, ALPTech has become a reliable partner for various financial institutions across the GCC and beyond, offering advanced solutions in risk analytics, data strategy, AI transformation, and ESG/climate intelligence. The new Riyadh office will enable ALPTech to better serve the increasing demand for these solutions in the Kingdom, enhancing its ability to support local enterprises.

Ashwani Roy, co-founder and lead scientist at ALPTech, highlighted the strategic importance of Saudi Arabia, noting, "Saudi Arabia is a strategic focus for us. The Kingdom is both a hub for innovation and a market where our expertise in AI and computational finance can directly support financial institutions and corporates. While our global teams in London, Dubai, and India will continue to provide expertise, we are committed to building local capabilities in Riyadh, ensuring measurable outcomes while investing in the Kingdom's talent ecosystem."

ALPTech's commitment to the Saudi market is further demonstrated by Sharad Gupta, co-founder and head of MENA, relocating from Dubai to Riyadh to oversee the firm's operations in the Kingdom. Gupta expressed enthusiasm about the prospects of AI adoption in Saudi Arabia, stating, "Saudi Arabia is leading AI adoption in the region and presents an immense opportunity for us to support banks, family offices, and asset managers with AI-driven analytics and data solutions.

"By applying our expertise in computational finance and AI, we aim to strengthen decision-making frameworks and deliver tools that drive long-term value creation. Equally important is our commitment to investing in Saudi talent—we intend to collaborate with local universities to mentor and develop future leaders in this space as we grow our presence in the Kingdom."

ALPTech's expansion into Riyadh not only supports Saudi Arabia's Vision 2030 for digital transformation and financial sector development but also marks a significant step in the company's goal to deliver localised innovation.

By establishing a base in Riyadh, ALPTech aims to empower local businesses, enhancing their performance and unlocking new opportunities within the finance and investment sectors. This move reflects the company's long-term commitment to the Kingdom, promising to deepen its local delivery and innovation capabilities while contributing to the development of the local talent pool.