Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Tuum has partnered with Google Cloud to enhance digital banking services in the EMEA region. This collaboration aims to improve scalability, security, and performance for financial institutions, enabling them to meet modern customer demands. Tuum’s deployment in Saudi Arabia marks a significant step towards supporting cloud-based financial development in the Middle East.
Qatar Islamic Bank (QIB) has launched a comprehensive awareness initiative to educate customers about cybersecurity and protect their personal banking information. This initiative, coinciding with cybersecurity awareness month, aims to empower customers against cyber threats through enhanced knowledge and advanced security features in digital banking.
Kuwait-based fintech startup Krti has closed a $1.5 million pre-seed investment round with Core Vision Investment. The funding supports the upcoming launch of Krti’s innovative loyalty program, aimed at maximizing the benefits of users’ bank cards in Kuwait and Saudi Arabia.
Finastra has partnered with Sonali Bangladesh UK (SBUK) to implement Finastra Essence, a cloud-based core banking solution that supports both Shariah-compliant and conventional banking. This collaboration aims to enhance SBUK’s digital offerings and streamline banking operations, meeting the diverse needs of its corporate and banking clients.
du Pay has partnered with Emirates NBD to enhance digital financial services in the UAE by offering users a unique virtual IBAN for seamless fund transfers. The collaboration also allows cardless cash withdrawals from Emirates NBD ATMs, improving user convenience and reinforcing both companies’ commitment to innovation in banking.
BankDhofar partners with Entrust to implement Digital Card Solution (DCS), enabling Tap to Pay and tokenization services through its Dhofar-Pay app. This makes BankDhofar one of the first in Oman to launch such services, with plans to expand into digital wallets like Apple Pay and Samsung Pay soon.
Qatar Islamic Bank (QIB) has enhanced its Mobile App with new features, including UPI transfers to India, Mobile Wallet Payments to Egypt, and EDAA NIN & IBAN linking for dividend payments. These updates provide greater convenience, control, and security for customers, making QIB’s app a comprehensive digital banking solution.
Barq, a Saudi fintech led by Ahmed Alenazi, has garnered over 1 million users in just three weeks following its public debut. Licensed by SAMA, the startup offers extensive features including digital personal accounts, Visa cards, and international money transfers, rapidly positioning itself as a major player in the fintech sector.
National Bank of Kuwait (NBK) has introduced a new online payment confirmation service via its Mobile Banking App, eliminating the need for OTPs. Named NBK Secure Shopping, this service enhances the security and convenience of online transactions for cardholders, reinforcing NBK’s commitment to digital innovation and customer service.
Gulf Bank has introduced the “WAMD” service, allowing customers to transfer money quickly and securely using a phone number via the bank’s mobile app. This new feature, implemented by KNET under the Central Bank of Kuwait’s supervision, enhances Gulf Bank’s digital services, making banking more convenient and accessible for its customers.