The Banking Executive Magazine - September 2023 Issue

ISSUE 177 SEPTEMBER 2023 the BANKING EXECUTIVE 45 FinTech and AI Chornicle Valu seeks to secure a strong market presence in line with its business strategy to boost its product and serv- ices universe flexibly and ensure profitability within 12-24 months of launching. The company aims to leverage its ex- pertise in financial technology to de- liver enhanced solutions to both consumers and merchants in Jordan. Meanwhile, Valu decided to exclude the market of Saudi Arabia from its market expansion plan. The platform elaborated that the ex- isting conditions in the market do not allow for the smooth implementation of its full suite of financial solutions. Furthermore, the expected profitabil- ity timeline for the market does not fall within Valu’s strategy nor expan- sion plans which was derived after examining the Saudi market over the past 15 months. Walid Hassouna, CEO of Valu, com- mented: "The decision to expand into Jordan aligns perfectly with our strategy of prioritising markets with plug-and-play market dynamics.” Hassouna added: “Valu's unwaver- ing commitment to profitability has yielded impressive results over the past four years, and we intend to maintain this trajectory moving for- ward.” Last August, Valu announced a strategic rebranding to anchor the fintech industry and serve a wider range of clients across various sec- tors. VALU TO LAUNCH IN JORDAN IN 2024, HALTS SAUDI EXPANSION PLANS