SIDF News

  Riyadh, Saudi Arabia, Thursday 3rd June 2021, The Saudi Industrial Development Fund (SIDF) won two golden Stevie awards for the Middle East and North Africa (MENA). The Fund received the Gold Award for Innovation in Business Information and Websites Applications, under the Website and Applications Awards Categories, as it innovated “Tamkeen" e-System for application and follow-up of loans. Under the same category, SIDF also won a Golden Award for mobile phones applications designated for SIDF's clients. The awards acquired have been a result of SIDF's digital transformation journey, where operations have been redesigned and over 300 processes automated. Alongside the launch of “Tamkeen" e-system for loan application and follow-up as well as a client service smart phone app for SIDF clients. SIDF journey towards digital transformation contributed to increasing the number of approved loans by 38% and the capacity for processing and reviewing loans was tripled. Additionally, duration time to obtain loans has been reduced by 53% to lower from 11 months to 5 months as per international standards. It is worth mentioning that the MENA Stevie Awards is the only program specialized in recognizing innovation in the business sector across the region which is available for companies and individuals in 17 countries. The winners of the gold, silver and bronze awards are determined by average scores of 60 professionals worldwide as decided by 6 judging committees. ​