ABU DHABI: First Abu Dhabi Bank (FAB) and Mastercard have announced an exclusive long-term global partnership, building on their long-standing collaboration, in the Eastern Europe, Middle East, and Africa (EEMEA) region.
The landmark deal spans four markets – the UAE, Saudi Arabia, Oman, and Egypt – and will see the market leaders join forces to further fuel the region’s digital payments ecosystem.
The large-scale collaboration will enable FAB to drive accelerated growth and innovation in the UAE and scale expansion plans in international markets. The partnership will deliver unique and disruptive products, services and solutions that are customized for the bank’s priority consumer, SME and commercial segments, offering them more choice, flexibility and benefits.
The partners will harness new frontier technologies such as Artificial Intelligence (AI) to revolutionize the customer experience and drive efficiency, harnessing Mastercard’s global expertise and the power of Mastercard’s Global Center for Advanc
ed AI and Cyber Technology, which is based in the UAE.
With shared value creation at the heart of the partnership, Mastercard and FAB will develop initiatives and strategic programs as one unified team. The strategic partnership unlocks new ways of working that will enable closer day-to-day collaboration and a shared focus on long-term strategic growth.
‘FAB and Mastercard share a commitment to spearheading excellence while keeping our customers at the heart of everything we do. We are delighted to deepen our partnership as we consolidate our portfolios, harnessing Mastercard’s innovative product capabilities, differentiated service offerings and unique partnership approach. We are excited to usher in this new era to accelerate our growth and advance digital transformation across the region,’ said Futoon Al Mazrouei, Group Head of Consumer Banking, UAE, FAB.
‘At Mastercard, we are working side by side with leading ecosystem players to power economies, boost financial inclusion and build a sustainable, conn
ected world where everyone can thrive. Our global collaboration with FAB represents a significant milestone on our shared journey of innovation and growth. We thank the bank for their partnership and look forward to leveraging our complementary strengths to drive disruption and redefine the payments landscape together,’ said Khalid Elgibali, Division President, Middle East and North Africa, Mastercard.
Source: Emirates News Agency