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Fintech Middle East & Africa Trending

MEA Incumbents Are Brought Into the Modern Era With FOO and Network International’s Partnerships

FOO, a provider of B2B SaaS solutions, has signed an agreement with Network International – the enabler of digital commerce across the Middle East and Africa (MEA) to streamline the transformation of incumbent financial institutions into innovative and agile players through a digital wallet platform.

The digital wallet platform will be offered to Network International’s issuer clients i.e banks and other financial institutions, helping them to adapt to the market and meet consumer demands for seamless, secure, and convenient digital solutions.

With an array of customisable, easy-to-integrate modules including digital onboarding, stored value accounts, virtual card issuance and remittances, the white-label platform is tailored to meet unique and specific business requirements.

FOO will supply the technology behind the platform through its portfolio of financial microservices, built in-house using a modular ‘plug and play’ model. With customer-centricity at the core of its strategy, FOO’s hyper-personalised products bring banking and financial services into the digital-first world, with the added benefit of exceptionally fast time-to-market.

Network International, with its unparalleled regional footprint that serves over 200 financial institutions, will offer schema support based on its relationships with local banks. Network International will bring forth its extensively diverse network and expertise to put the digital wallet platform into action.

Ghady Rayess, managing partner at FOO, comments: “By partnering with Network International, we will strengthen our presence throughout the Middle East and aid our transition into the more diverse markets of Africa. We see eye-to-eye on our vision to accelerate the adoption of customer-centric digital solutions in the region, and subsequently look forward to hitting the ground running.”

Navneet Dave, managing director and co-head of processing – Middle East at Network International, shared: “Our business strategy is to harness the power of strategic partnerships that will support our clients in digitising their payment infrastructures. Furthermore, it is thrilling to be able to leverage FOO’s unique capabilities in fast and configurable fintech solutions to further enrich our own offerings and accelerate innovation.”

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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