The Banking Executive Magazine - May 2024 Issue

ISSUE 185 MAY 2024 the BANKING EXECUTIVE 43 FinTech and AI Chornicle QNB Group, the largest financial in- stitution in the Middle East and Africa, and Ooredoo Fintech, an- nounced a groundbreaking extension to their partnership aimed at revolu- tionizing fintech services in Oman. This collaboration marks a significant milestone in the region’s digital trans- formation journey, as both entities join forces to offer innovative solu- tions through Ooredoo’s wallet plat- form. Building on their existing strategic al- liance, which to date has focused on the market leading Ooredoo Money proposition in Qatar, QNB will serve as the settlement bank for Ooredoo Fintech’s mobile wallet in Oman, leveraging its extensive expertise in banking and finance to facilitate seamless transactions and enhance its user experience. The partnership will empower consumers in Oman to enjoy a wide range of financial serv- ices directly from their mobile de- vices, including mobile payments, fund transfers, bill payments, and more. Commenting on the partnership, Khalid Ahmed Al Sada, Senior Exec- utive Vice President - Group Corpo- rate and Institutional Banking, stated, “We are excited to collaborate with Ooredoo Fintech to bring cutting- edge fintech solutions to Oman. This partnership aligns with our commit- ment to supporting innovation in the countries we operate. By leveraging our robust banking infrastructure and Ooredoo’s expansive reach, we aim to empower individuals and busi- nesses with convenient, secure, and accessible financial services.” Similarly, Michelangelo Giacco, CEO of Ooredoo Fintech, expressed his enthusiasm for the collaboration, saying, “We are dedicated to lever- aging technology to enrich the lives of our customers. This partnership with QNB represents a significant step towards realizing this vision, as we combine our expertise to deliver innovative fintech solutions tailored to the needs of the Omani market. Together, we aim to redefine the fu- ture of digital wallets and drive finan- cial inclusion across the Sultanate.” The partnership between QNB and Ooredoo Fintech underscores their shared commitment to fostering fi- nancial inclusion and driving digital innovation in Oman. QNB, OOREDOO FINTECH EXTEND PARTNERSHIP TO REVOLUTIONISE FINTECH SERVICES IN OMAN