The Banking Executive Magazine - April 2025

FAB FIRST IN MENA TO ADOPT ORACLE-MASTERCARD VIRTUAL CARD SOLUTION FOR B2B FINANCE PAYMENTS First Abu Dhabi Bank (FAB), UAE’s global bank and one of the world’s largest and safest financial institu- tions, is the first bank in the Middle East and North Africa (MENA) to pilot an innovative embedded finance and payments solution de- veloped in partnership with Oracle and Mastercard. This collaboration combines the strengths of the two in- dustry leaders to revolutionize busi- ness-to-business (B2B) finance and payments processes for FAB clients, enhancing efficiency, security, finan- cial transparency, and supplier rela- tionships. The integration of Mastercard’s vir- tual card platform directly into Ora- cle Fusion Cloud Enterprise Resource Planning (ERP) software, addresses common challenges in commercial payments—such as fragmented data, systems, and processes—by deliver- ing a seamless turnkey payment so- lution that eliminates the need for costly and time-consuming technol- ogy implementations. According to the 2024 ‘Payment Practices Barometer’, nearly 40% of businesses in the UAE highlight inef- ficient payment processes as the pri- mary cause of delayed payments. Through this partnership, FAB’s cor- porate customers will benefit from faster, more secure, and transparent payments. The virtual card solution automates manual tasks, streamlines workflows, and offers real-time in- sight into cash flow and spending, helping businesses enhance opera- tional efficiency and reduce costs. FAB provides corporate clients with advanced and efficient tools to meet their evolving business needs. The partnership with Oracle and Master- card reinforces FAB’s commitment to being a future-ready bank, enabling regional businesses to optimise pay- ment processes, streamline opera- tions, and access a wider range of value-added banking services. Through the partnership, recently an- nounced at the Oracle CloudWorld Tour Dubai conference, FAB aims to empower corporate clients with: • Seamless payment automation: Streamlined payments directly within Oracle Fusion Cloud ERP, reducing manual entry and opera- tional costs. • Increased security: Secure payments with single-use card numbers, reducing fraud risk and enhancing the protection of sensitive financial data. • Optimised financial management: Consolidated cash flow insights, with the ability to extend working capital, reduce costs and earn re- bates. • Enhanced supplier relationships: Faster, more reliable payments and simplified reconciliation for suppli- ers. • Global reach: Simplified cross-border transac- tions in compliance with local reg- ulations, backed by Mastercard’s global network. Gina Petersen-Skyrme, SVP and Country Manager, UAE and Oman, Mastercard, stated, "In an increas- ingly fast paced environment, busi- nesses of all kinds are turning to virtual cards to bring the ease, secu- rity, and efficiencies of digitization to their operations. At Mastercard, we are delighted to leverage our innova- tive virtual card platform to expand the benefits of embedded finance in Oracle Cloud ERP to FAB’s commer- cial customers." Liam Nolan, Vice President of Appli- cations Development at Oracle, commented, "This collaboration in- troduces a proven consumer pay- ment method to the B2B world, simplifying supplier onboarding, re- ducing risk, and enhancing working capital management for both buyers and suppliers. Mutual customers can now streamline key finance and op- erational functions and enhance working capital management." the BANKING EXECUTIVE 22 ISSUE 196 APRIL 2025