In a significant move aimed at revolutionizing the financial technology landscape in the Arab world, Resources for Finance has joined forces with Arab Financial Services (AFS) to launch the “FinTech Empowerment Center.” This innovative platform is designed to facilitate seamless access for fintech companies to organized infrastructure and advanced digital capabilities, marking a pivotal step in the development of Card-as-a-Service (CaaS) solutions. The initiative leverages the Mastercard Product Express platform tailored specifically for financial technology. By responding to market needs and continuously innovating, Resources for Finance aims to offer flexible and scalable card solutions that cater to various sectors, all while ensuring compliance with regulatory standards and security protocols.
Partnership Highlights and Vision
According to Rashid Al-Qubeisi, CEO of Resources for Finance, this partnership underscores their commitment to both individual and corporate clients by creating tailored card solutions that meet diverse needs. “We are dedicated to investing in advanced technology to deliver innovative solutions such as smart cards, digital cards, and mobile payment services, ensuring top-level security,” he stated. The collaboration with Arab Financial Services (AFS) merges global leadership in technology with robust Bank Identification Number (BIN) management, offering advanced payment processing capabilities in an integrated framework.
Streamlined Solutions for Fintech Companies
The launch of the “FinTech Empowerment Center” serves as a crucial platform for fintech companies to penetrate the market efficiently. It simplifies the integration of payment, issuance, and processing systems, along with enabling tools, without the typical complexities. Al-Qubeisi elaborated that this initiative is not just about development but also about fostering a conducive environment for innovation.
Enhanced Digital Empowerment in the UAE
Samir Suleiman, CEO of AFS, emphasized the importance of leveraging their extensive expertise in technology to provide a streamlined platform that accelerates the card program launch process. This capability equips emerging digital companies with the necessary tools to build, launch, and scale their solutions with confidence and efficiency. He noted that the collaboration represents a crucial step towards enhancing digital empowerment in the UAE, offering fintech companies a clear and simplified pathway for designing, building, and expanding card products within a cohesive and comprehensive experience.
The establishment of the “FinTech Empowerment Center” epitomizes the forward-thinking approach adopted by both Resources for Finance and Arab Financial Services, as they collectively work to create a more inclusive and innovative financial technology sector across the region.