SNB Goes Live with J.P. Morgan's Kinexys Blockchain for Programmable Payments

Saudi National Bank has gone live with JPMorgan's Kinexys blockchain platform for programmable payments, deploying the technology to bring real-time, automated payment capabilities to its treasury operations.

The Kinexys integration enables SNB to execute instant, programmable transfers that are triggered automatically when predefined conditions are met. The blockchain-based system operates around the clock, allowing the bank's treasury team to manage liquidity and execute payments without the constraints of traditional banking hours or batch processing cycles.

SNB said the implementation optimises liquidity management by enabling precise, real-time movement of funds across accounts and entities. Programmable payments allow the bank to automate treasury operations that previously required manual intervention, including intraday liquidity sweeps, conditional payments, and time-based transfers.

The deployment makes SNB one of the first banks in the MENA region to use Kinexys, JPMorgan's rebranded blockchain payments platform formerly known as Onyx. The platform processes billions of dollars in transactions globally for institutional clients, and SNB's adoption brings its capabilities to the Saudi market.

The partnership between Saudi Arabia's largest bank and one of the world's largest financial institutions signals growing institutional confidence in blockchain technology for production banking operations. The deployment moves beyond pilot programmes into daily operational use for real treasury management functions.

The Kinexys implementation aligns with SNB's broader technology investment strategy and Saudi Arabia's Vision 2030 goals for financial sector modernisation and innovation.