BCMGlobal to Enhance National Financing Support Services in Saudi Arabia

BCMGlobal's Strategic Role in Saudi Arabia's Financial Sector

BCMGlobal, a leading independent credit and mortgage management company in Europe and a subsidiary of LCM Partners, has been tasked with the management of the National Financing Support Services Company (NFSC), aimed at transforming it into a premier independent credit servicing entity in Saudi Arabia. This initiative is pivotal for bolstering the mortgage and consumer financing landscape in the kingdom, aligning with the goals set forth in Saudi Arabia's Vision 2030.

The NFSC was established by the Saudi Real Estate Development Fund (REDF) and the Saudi Real Estate Refinance Company (SRC), marking a significant step in modernizing the national finance framework. BCMGlobal's involvement comes with over 25 years of extensive experience across Europe, allowing them to send a leadership team to the kingdom that includes the appointment of a Head of Servicing. This individual will spearhead the next phase of development for NFSC.

In its new role, BCMGlobal plans to broaden NFSC's service offerings beyond residential mortgages to include consumer and corporate loans, establishing essential infrastructure for domestic institutions and international lenders interested in participating in Saudi Arabia's rapidly growing financial markets. The anticipated growth has already attracted significant interest from major global banks and investment firms, indicating the rising quality of international engagement with the kingdom's finance sector.

Simon Fitness, the Managing Director of BCMGlobal, highlights the company's focus on operational integration within the local market, emphasizing the establishment of local teams and technologies capable of delivering first-class services. The commitment to achieving synergy with Vision 2030 goals reflects BCMGlobal's proactive approach to contributing to the sustainable growth of Saudi Arabia's financial ecosystem.

Paul Burdell, the Managing Director of LCM Partners, articulated that Saudi Arabia continues to demonstrate a world-class ambition in developing its financial markets. He expressed pride in partnering with organizations like REDF and SRC, which are integral to shaping a modern and dynamic financial services sector. BCMGlobal's expertise in servicing, data, and technology is concisely positioned to enhance these efforts, aiming to facilitate an institution of enduring strength and capability within NFSC.

BCMGlobal currently manages approximately €45 billion in assets across five European countries, offering end-to-end solutions in credit management, portfolio management, and data analysis for over 125 financial institutions. Their collaboration with NFSC marks a crucial milestone in the company's international expansion, underscoring BCMGlobal's role as a strategic partner in enhancing the infrastructure of financial services in Saudi Arabia.

The prospect of BCMGlobal’s deeper integration into the financial landscape is promising for the kingdom's economic diversification efforts and is a clear indication of the growing international interest in Saudi Arabia’s burgeoning financial services market. As they prepare to establish operations in the region, BCMGlobal is committed to creating robust local employment and expertise while being poised to leverage its extensive operational capabilities to deliver advanced financial solutions tailored to meet the evolving needs of Saudi borrowers and financial institutions alike.

In summary, BCMGlobal's strategic partnership with the NFSC represents a significant advancement in enhancing Saudi Arabia's financial services landscape, providing the necessary foundation for both domestic growth and international investment in the kingdom's economy.