Press Release: source
Zain FinTech and Al Ansari Financial Services Forge Strategic Partnership
In a bid to redefine the remittance experience for customers and propel the region’s digital ecosystem forward, Zain FinTech, the financial services arm of Zain, and Al Ansari Financial Services PJSC have entered into a Memorandum of Understanding (MoU). This landmark collaboration, announced on October 25, 2023, marks the beginning of an exciting journey aimed at leveraging technology to enhance financial services delivery across markets.
Zain, a leading regional telecom group operating in seven markets across the Middle East and Africa, joins forces with Al Ansari Financial Services, one of the leading integrated financial services groups headquartered in the UAE with operations across the region. The MoU was signed by Bader Al Kharafi, Zain Vice-Chairman and Group CEO, and Rashed A. Al Ansari, Board Member and Group CEO of Al Ansari Financial Services, setting the stage for a strategic alliance focused on driving innovation in the financial sector.
Mr. Al Kharafi expressed Zain’s commitment to maximizing opportunities in the digital financial arena through its ‘4Sight’ growth strategy. Leveraging its footprint, customer base, and leading technologies, Zain aims to expand its suite of innovative fintech services, advancing the region’s digital ecosystem. The collaboration with Al Ansari Financial Services aligns perfectly with this vision, as both companies share a passion for innovation and excellence in financial services delivery.
Mr. Al Ansari echoed this sentiment, expressing excitement about the partnership with Zain and the opportunity to revolutionize the financial landscape. By harnessing technology-driven solutions, the collaboration aims to provide customers with cutting-edge financial products and services that enhance convenience and efficiency.
Under the Zain FinTech umbrella, the financial services arm of Zain Group offers a wide range of innovative products and services related to payments, remittances, credit cards, and micro-finance. Additionally, Zain FinTech’s B2B SAAS solution provider, ‘FOO,’ specializes in empowering businesses with innovative fintech solutions that optimize digital capabilities and deliver an unparalleled user experience.
Al Ansari Financial Services, on the other hand, empowers its operating subsidiaries to unlock their growth potential through synergy. With a comprehensive global network and proprietary technology, the group provides cross-border payments, foreign currency exchange solutions, and other financial services to consumers and businesses in the UAE and beyond.
The strategic partnership between Zain FinTech and Al Ansari Financial Services holds great promise for driving innovation and enhancing financial services delivery across the region. As both companies embark on this collaborative journey, they remain committed to delivering exceptional value to customers and advancing the digital transformation of the financial sector. Stay tuned for more updates on the exciting developments stemming from this partnership.
