Communications & Technologies

Sahm Capital Seeks to Enhance App Stability Through Partnership with SCCC, a consortium of Alibaba Cloud and STC

Riyadh, March 3rd – Sahm Capital Financial Company (previously known as VCFC), a leading Fintech firm based in Riyadh, is in the process of finalizing a significant collaboration with Alibaba Cloud SCCC, a could service provider jointly founded by Alibaba Cloud and STC Group, to further enhance system reliability and strengthen user experience on platform stability for its all-in-one trading app, Sahm

Launched in December 2023, Sahm is the first of its kind in Saudi Arabia, enabling a one-click quick switch between Saudi and U.S. stock accounts in real-time for both trading and currency conversion. The app’s all-in-one feature is showcased through its seamless combination of market quotes, information, education, and analysis. This integration sets the app apart from other trading platforms, eliminating the need for users to switch between multiple apps when making cross-market investment decisions. Sahm also provides investors with a list of Shariah Compliant Stocks available in the U.S. market, along with a selection of U.S. stock ETFs that carry Arabic themes

Hadeel Bedeeri, Sahm’s General Manager, highlighted the importance of system security and reliability as the cornerstone of Sahm’s offerings. “Ensuring the security and reliability of our services is our utmost priority. We are committed to delivering a dependable and easy-to-use platform to our users,” Bedeeri remarked

In its pursuit of exceptional server reliability, Sahm has been actively engaging with premier cloud server providers, including AWS, Google Cloud, Alibaba Cloud, and Oracle. By adopting Distributed Cloud technology, which disperses public cloud services across multiple locations, Sahm aims to ensure the highest level of server stability. Through relocating the processing tasks closer to the end user, distributed cloud computing reduces latency and increases the responsiveness of services. Data is then processed locally instead of at a centralized server, resulting in a superior user experience. Additionally, Sahm’s parent company, Valuable Capital Group Limited, has attained the ISO/IEC 27001 certification, further solidifying its dedication to securing its services

While the partnership with Alibaba Cloud SCCC is yet to be officially announced, both parties are diligently working on the details of the collaboration, with an official announcement anticipated in the coming weeks. Alibaba Cloud, a global leader in cloud computing and digital solutions, has brought its expertise to Saudi Arabia by founding SCCC Alibaba Cloud. This initiative, in collaboration with key partners such as STC Group, eWTP Arabia Capital, Saudi Company for Artificial Intelligence (SCAI), and the Saudi Information Technology Company (SITE), aims to deliver the most extensive range of cloud computing solutions within the Kingdom

This forthcoming partnership between Sahm Capital and Alibaba Cloud SCCC is expected to redefine the standards of reliability and security in the Fintech industry, ensuring that Sahm users enjoy a secure, reliable, and unparalleled trading experience

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About Sahm Capital

Registered in Riyadh, Sahm Capital (previously known as VCFC) is a joint venture company of Valuable Capital Group Ltd and eWTP Arabia Capital. Sahm Capital is also a registered member of the Saudi Stock Exchange, Tadawul, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). The company is also a member of Mena Fintech Association and Middle East Africa and Asia Crypto and Blockchain Association (MEAACBA)

About Alibaba Cloud SCCC

Alibaba Cloud, the global leader in cloud computing and artificial intelligence, brings its expertise to the Kingdom of Saudi Arabia; a nation emerging on the forefront of progress and development, to grow your potential in an accelerated digital world

SCCC Alibaba Cloud was formed through strong partnerships across STC Group, Alibaba Cloud, eWTP Arabia Capital, Saudi Company for Artificial Intelligence (SCAI), and the Saudi Information Technology Company (SITE) to bring you the most comprehensive suite of cloud computing solutions in the Kingdom

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