Zain FinTech, the financial services arm of Zain, a leading regional telecom group in the Middle East and Africa, has entered into a Memorandum of Understanding (MoU) with Al Ansari Financial Services PJSC, a prominent integrated financial services group based in the UAE. This strategic alliance aims to leverage technology to improve financial services for customers across various markets.

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. The partnership between the two organizations is expected to drive innovation in financial services and enhance their delivery in the region.

According to Al Kharafi, Zain aims to maximize opportunities in the digital financial arena as part of its growth strategy. By expanding its fintech service offerings and leveraging strategic partnerships, Zain aims to advance the region’s digital ecosystem.

Rashed Al Ansari expressed excitement about joining forces with Zain, highlighting their shared passion for innovation and commitment to delivering exceptional financial services. The collaboration between the two companies aims to revolutionize the financial landscape and provide customers with technology-driven solutions.

Through investments in financial technology and other contemporary tools, Zain FinTech and Al Ansari Financial Services aim to redefine the remittance experience and enable convenient and secure fund transfers. This partnership will drive advancements in financial services and technological solutions in the region, ultimately improving customer experiences.

Zain FinTech, as the financial services arm of Zain Group, offers a range of innovative products and services related to payments, remittances, credit cards, and micro-finance across the Middle East and Africa. Their B2B SAAS solution provider, ‘FOO,’ specializes in empowering businesses with fintech solutions to optimize digital capabilities and deliver an unparalleled user experience.

Al Ansari Financial Services, headquartered in the UAE, is a leading integrated financial services group that empowers its subsidiaries to unlock growth potential through synergy. They provide cross-border payments, foreign currency exchange solutions, access to the Wage Protection System, and other services to consumers and businesses in the UAE’s payments and remittance market.

By collaborating and harnessing technology, Zain FinTech and Al Ansari Financial Services aim to reshape the financial services industry and provide customers with advanced and convenient solutions.