The Saudi Central Bank (SAMA) introduced the Minimum Verification Controls (MVC) framework to ensure that financial institutions and fintech service providers operating in the Kingdom adopt adequate measures to protect customer data and secure digital transactions.
As financial technology continues to grow rapidly, so do the risks of cyberattacks, identity theft, fraud, and unauthorized access. SAMA MVC sets out a baseline of mandatory security and verification measures that organizations such as e-wallet providers, lending platforms, crowdfunding businesses, and other fintech companies must implement.
These controls establish a trusted digital ecosystem where customer identities are validated, transactions are secured, and fraudulent activities are minimized. By complying with SAMA MVC, organizations not only meet regulatory requirements but also demonstrate their commitment to customer protection, fraud prevention, and operational resilience.
SAMA MVC defines a set of domain-specific controls to address various risks across fintech operations. These domains cover registration and onboarding, general security measures, and specialized lending application requirements.
This domain focuses on ensuring that every customer entering the platform is properly authenticated and validated. Secure onboarding reduces the risk of fake identities, fraudulent accounts, and misuse of financial services.
By following these measures, fintech platforms create a secure entry point for customers, reducing fraud risk from the very first interaction.
The general controls outlined in SAMA MVC apply to all fintech business models and ensure operational, technological, and procedural safeguards are in place.
These general controls build a secure operational foundation, reducing exposure to cyber risks, fraud attempts, and data breaches.
Since lending platforms handle sensitive financial transactions, additional controls are mandated under the MVC framework to prevent fraud and misuse.
These measures ensure transparency, security, and accountability across lending processes, protecting both financial institutions and their customers.
We deliver end-to-end consultancy, compliance, and audit services for SAMA MVC through a structured methodology designed to ensure full alignment with regulatory expectations.
We begin by analyzing your current policies, systems, and controls against SAMA MVC requirements to identify gaps and compliance risks.
Each gap is mapped to associated risks, including fraud exposure, cybersecurity vulnerabilities, and operational weaknesses.
We design practical, risk-based remediation strategies that align with both regulatory expectations and business objectives.
Our team provides hands-on support in implementing authentication controls, fraud detection mechanisms, MFA solutions, and monitoring processes.
We perform a comprehensive audit to ensure that all MVC requirements are addressed and documented for regulatory review.
Compliance is not a one-time activity. We provide ongoing consultancy, staff training, and advisory support to keep your organization aligned with evolving SAMA standards.
Adopting SAMA MVC is not just about ticking a regulatory checkbox, it's about building a trusted, resilient, and secure fintech environment.
Non-compliance can lead to regulatory penalties, reputational damage, and even suspension of services.
Strong onboarding, MFA, and fraud monitoring reduce the likelihood of cyberattacks and financial crime.
Demonstrates a commitment to protecting user data and ensuring transaction safety.
Disaster recovery and backup mechanisms ensure business continuity in the event of disruptions.
Compliance with SAMA MVC builds trust with customers, partners, and regulators, giving you a competitive edge in the Saudi fintech landscape.
Partnering with us for SAMA MVC compliance audit and consultancy services ensures that you are working with experienced professionals who understand both local regulatory requirements and global best practices.
Expertise in SAMA MVC, SAMA Cybersecurity Framework (CSF), and SAMA CRFR.
Covering compliance audit, consultancy, remediation support, and ongoing advisory.
Recommendations tailored to your specific operating model.
Supporting e-wallet providers, lending platforms, crowdfunding firms, and digital banking solutions.
Helping organizations align with regulatory expectations while minimizing business disruption.
Contact us to discuss your Minimum Verification Controls compliance requirements