Page 13 - SAMENA Trends - November-December 2021

FEATURED SAMENA TRENDS

context of potentially lucrative e-gaming
tournaments low latency is crucial for
those involved. Furthermore, 5G has the
ability to unlock a new level of gaming
reality through VR. The technology is so
quick VR headsets can be used without
any lag, making virtual worlds seem
remarkably real.

“We at stc are at the

forefront of our industry,
delivering leadership
in terms of cutting-
edge technology in

infrastructure and its to the people and the businesses we work For stc, 5G is enabling the company to
application. Looking at with in a truly transformational way. “ expand its operation into other new areas
such as in fintech, which it did so with its
it in the round and the He emphasised ” We are determined launch of stc Pay towards the end of 2020.
outcomes it provides to maintain our scale and pace of Less than two years later the company
development, because unless we deliver
is valued at over $1 billion. stc Pay is
is what enables us to the products and services behind all these the digital payment arm of the wider stc
accelerate the benefits incredible and fast-moving innovations, Group, which has opened the door for cash
transfers and transactions to be done
we will not be able to turn ideas into life
to the people and enhancing and life changing, reliable digitally worldwide thanks to a partnership
the businesses we products and services. That is under agreement with Western Union. It’s deals
like this, which have helped to establish
our DARE strategy we are creating and
work with in a truly incubating companies, with strong focused stc as the digital hub for the MENA
transformational way. “ leadership which we can then let thrive and region as well as pioneering the digital
create additional value for the economies,
transformation in Saudi Arabia. In line with
customers, employees and shareholders the governments Vision 2030, which aims
Eng. Olayan M. Alwetaid, Group CEO, stc through IPOs and funding like we did with to reduce the country’s dependence on oil
said: “We at stc are at the forefront of our solutions by stc and stc pay/bank. Many by growing other sectors, stc has already
industry, delivering leadership in terms of more are planned as we build out our begun to overhaul the Kingdom’s digital
cutting-edge technology in infrastructure digital strategy to help the transformation infrastructure and has been rolling out its
and its application. Looking at it in the of our kingdom under Vision 2030 and the new and emerging technologies across
round and the outcomes it provides is region as a whole.” the country, including in previously hard-
what enables us to accelerate the benefits to-reach and rural areas of Saudi Arabia.
The digital transformation will affect and
improve all public and private sectors as
they adopt the new technologies.
stc’s role in the digitalization of the
country is clear – to lead the charge and
it is achieving that by expanding into new
areas such as fintech through the stc Pay
app, stc Play, and Sirar for all things cyber
security. The rapid rise of the business has
led it to becoming a powerhouse in MENA
and is now the region’s number one hub for
digital solutions. The company continues
to evolve and expand while offering
customers a quality service and rapid
connection speeds. Users have the added
benefit of being able to access everything
from the firm on its new digital Mystc app.

13 NOV-DEC 2021