D360 Bank

What D360 Bank does

D360 Bank is a Shariah-compliant digital bank headquartered in Riyadh, Saudi Arabia, operating as a Closed Joint Stock Company with paid-up capital of SAR 2.1 billion (~USD 560M). Licensed by the Saudi Central Bank (SAMA) in February 2022 under Council of Ministers decree, the bank serves over 3 million retail customers exclusively through a mobile app and website with no physical branches. Its product set centers on the Sanabil Monthly and Sanabil Daily profit-bearing savings accounts (tiered AER up to 3.0% and 2.85% respectively), a card suite comprising Debit, Masareef (family/dependent spending controls), and Ehsan (charity donation) cards, instant international transfers with no hidden fees, Shariah-compliant personal lending, the Musaned domestic-worker salary payment service, and Apple Pay and Samsung Pay wallet integrations. All products are overseen by an independent Shariah committee.

The bank operates a cloud-native, mobile-first architecture with AI-driven anomaly detection for real-time fraud monitoring, an intelligence-led zero-trust security model, and tokenized card data for digital wallet payments. It is governed by SAMA, NCA, and PDPL compliance requirements. D360 monetizes primarily through FX spreads on international transfers, the net spread retained on Shariah-compliant profit-sharing savings products, card transaction fees, and lending margins, targeting a horizontal retail base spanning travelers, expatriates, families, employers of domestic workers, savings-focused consumers, and socially conscious donors across Saudi Arabia, with a newly added Business Banking proposition.

The company has raised approximately USD 840M across two funding rounds, including participation from the Public Investment Fund (PIF), Derayah Financial, AlJammaz Group, HALA Capital, and STV. Strategic positioning is closely aligned with Saudi Vision 2030's target of 70% cashless transactions by 2030, and the bank holds first-mover status as Saudi Arabia's first Shariah-compliant digital bank.

Name

D360 Bank

Legal name

D360 Bank

Website

https://d360.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

D360 Bank is Saudi Arabia's first Shariah-compliant digital bank, serving over 3 million retail customers through a cloud-native mobile app offering profit-bearing savings, debit and prepaid cards, instant international transfers, lending, and Musaned salary payments.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industries

Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Digital banking
• Shariah-compliant banking
• International money transfers
• Savings accounts
• Mobile banking

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. International Transfer Margins: Revenue generated from foreign exchange spreads on international money transfers, offering competitive exchange rates with no hidden fees.
2. Savings Account Profit Sharing: Profit earned from investment of customer deposits, distributed to customers as AER rates (1.0% to 3.0% monthly account, 0.5% to 2.85% daily account) while retaining spread.
3. Card Transaction Fees: Revenue from card transaction processing fees, international transaction fees (debit card offers no international fees - competitive positioning), and card issuance.
4. Musaned Domestic Worker Salary Transfers: Service enabling employers to pay domestic worker salaries with free international transfers for amounts SAR 100 or more.
5. Lending Products: Financing products offered to personal customers under Shariah-compliant principles.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

D360 Bank is a fully digital, Shariah-compliant bank that delivers retail and business banking products through a cloud-native mobile and web platform. Its core offerings include Shariah-compliant Sanabil savings accounts (Monthly and Daily tiers), travel-focused debit cards with no international fees, Masareef family-spending prepaid cards, Ehsan charity-linked cards, instant international money transfers, Musaned domestic-worker salary payments, personal lending, and digital business banking services.

Product overview

D360 Bank operates as a digital-first Shariah-compliant bank offering a unified mobile banking platform with multiple product categories. The core offerings include Sanabil savings accounts (Monthly and Daily variants) providing tiered profit rates, a suite of debit and prepaid cards (Debit Card, Masareef Card, Ehsan Card), international money transfers, domestic worker salary payments via Musaned, and digital wallet integrations with Apple Pay and Samsung Pay. All products are supervised by an independent Shariah committee and governed by Saudi regulatory frameworks including SAMA requirements.

Differentiator

Problem solved

Functional benefit

Products and services

• Sanabil Monthly Account Shariah-compliant savings account that calculates and deposits monthly profits based on the daily minimum balance, with profits credited on the first day of the following month. Tiered AER rates range from 1.0% to 3.0% based on balance thresholds, and a minimum balance of SAR 1,000 is required. Targeted at personal banking customers seeking transparent, Islamic-compliant monthly savings returns.
• Sanabil Daily Account Shariah-compliant savings account that calculates and deposits daily profits based on the minimum daily balance, with profits automatically credited to the account at 9:00 AM the next business day. Tiered AER rates range from 0.5% to 2.85% based on balance thresholds, and a minimum balance of SAR 2,500 is required. Designed for personal banking customers who want frequent, Islamic-compliant profit distribution.
• Debit Card Travel-focused Shariah-compliant debit card with no international fees, designed for seamless cross-border transactions and multi-currency support. Issued by D360 Bank and accessible through the digital banking platform, enabling users to spend abroad and online with competitive foreign exchange rates.
• Masareef Card Prepaid Shariah-compliant spending card that allows users to top up and control the spending of family members and dependents. Enables setting daily and monthly spending limits for better budget management across household members. Targeted at Saudi families seeking granular financial controls for dependents.
• Ehsan Card Shariah-compliant charity donation card that automatically donates to the Ehsan platform with every transaction at no additional cost to the cardholder. Issued instantly with built-in spending control features. Designed for socially conscious consumers who want to integrate charitable giving into routine spending.
• International Transfers Instant international money transfer service offering competitive exchange rates with no hidden fees, available 24/7 through the D360 mobile app. Targeted at Saudi travelers, expatriates, and remitters who want low-cost, fast cross-border transfers.
• Musaned Domestic worker salary payment service enabling customers to pay household staff salaries easily and securely, with free international transfers for amounts of SAR 100 or more. Targeted at Saudi employers of domestic workers who need a streamlined, low-cost remittance solution.
• Lending Services Shariah-compliant financing and lending products for personal banking customers, including credit assessment and loan services offered under Islamic finance principles. Targeted at Saudi personal banking customers seeking compliant financing alternatives.
• Business Banking Digital banking services for business customers, including business accounts, payments, and financial management tools delivered through the D360 digital platform. Supported by enterprise-grade zero-trust security infrastructure. Targeted at Saudi SMB and mid-market business customers.

Quantifiable outcome

• 3,000,000+ customers trust D360 Bank
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature5 records

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bank AlJazira: Saudi Shariah-compliant bank with a digital-first retail push including strong mobile-app experience and partnerships with international remittance networks. Directly comparable to D360 in product scope (savings, cards, transfers, lending) and Saudi retail target market.
• Emirates NBD Liv. Digital-first youth and lifestyle banking proposition from Emirates NBD in the UAE. Comparable to D360 as a regional GCC digital bank competing on app experience, zero-fee positioning, multi-currency cards, and targeting young, cross-border-savvy retail customers.
• Alinma Bank: Shariah-compliant Saudi retail bank that has built one of the strongest digital and mobile-banking propositions among Saudi incumbents. Closely comparable to D360 on Shariah compliance, retail deposit focus, and digital channel investment, serving overlapping Saudi retail and SMB customers.
• Mashreq Neo: UAE-based digital-only bank from Mashreq targeting young, digital-native customers with a mobile-first experience, cards, and transfers. Comparable to D360 as a GCC challenger bank built cloud-native against incumbent retail banks with similar PLG onboarding and fee-disruption messaging.

Emerging players

• Revolut: UK-headquartered global digital bank and app with strong multi-currency card, international transfer, and fee-disruption positioning. Comparable to D360 on best-rate FX, no-international-fee card, and mobile-first youth/traveler positioning, although operating across many more geographies.
• N26: European digital-first challenger bank offering mobile accounts, cards, and transfers with transparent fee structure. Comparable to D360 as a benchmark digital-only neobank model with app-led onboarding, simplified product set, and fee-disruption against incumbents.
• stc Bank: Saudi digital-only bank backed by stc (the Saudi telecom operator), offering mobile-first accounts, payments, and lending. Directly comparable to D360 as a pure-digital Saudi challenger bank targeting the same mobile-native retail customer base with similar product breadth.

Broad incumbents

• Al Rajhi Bank: Largest Shariah-compliant bank in Saudi Arabia and dominant retail incumbent with deep mortgage, personal, and consumer finance franchises. Comparable to D360 because both serve Saudi retail demand for Shariah-compliant banking, though Al Rajhi operates an established branch-and-digital hybrid at vastly larger scale.
• Saudi National Bank (SNB): Largest Saudi bank by assets formed via the NCB-Samba merger, with retail, corporate, and digital banking. Comparable to D360 as a same-jurisdiction competitor moving rapidly toward digital-first delivery, but with national-scale deposit and corporate client bases that dwarf D360.
• Riyad Bank: One of the largest Saudi commercial banks offering retail, digital, and corporate products. Comparable to D360 as a same-market full-service bank investing in its digital channel and competing for the same retail, card, and remittance deposits.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/D360bank
• Facebookfacebook.com/profile.php?id=100064630305788
• LinkedInlinkedin.com/company/d360bank
• Instagraminstagram.com/d360bank
• TikToktiktok.com/@d360bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about D360 Bank