First Abu Dhabi Bank And Mastercard Announce Global Partnership To Enhance Digital Payments

First Abu Dhabi Bank (FAB) and Mastercard have recently unveiled a significant global partnership, marking a new chapter in their longstanding collaboration within the Eastern Europe, Middle East, and Africa (EEMEA) region. This strategic alliance, covering the UAE, Saudi Arabia, Oman, and Egypt, aims to enhance the digital payments ecosystem across these key markets.

The collaboration is set to propel FAB's growth and innovation within the UAE and facilitate its expansion plans abroad. By introducing innovative products, services, and solutions tailored for consumer, SME, and commercial segments, the partnership promises to offer enhanced choice, flexibility, and benefits to these groups.

Utilizing cutting-edge technologies like Artificial Intelligence (AI), the alliance seeks to transform the customer experience and improve operational efficiency. This effort will be supported by Mastercard’s Global Center for Advanced AI and Cyber Technology located in the UAE. The partnership is built on a foundation of shared value creation, with both entities working closely to develop strategic initiatives and programs.

Futoon Al Mazrouei, Group Head of Consumer Banking at FAB in the UAE, expressed enthusiasm about deepening their partnership with Mastercard. She highlighted the focus on consolidating their portfolios and leveraging Mastercard’s innovative products and unique partnership approach to accelerate growth and digital transformation across the region.

Khalid Elgibali, Division President for the Middle East and North Africa at Mastercard, echoed this sentiment. He emphasized the importance of their collaboration with FAB in driving economic power, enhancing financial inclusion, and contributing to a sustainable world where everyone can prosper. Elgibali expressed gratitude for FAB's partnership and looked forward to combining their strengths to introduce disruptive changes in the payments landscape.

This landmark deal not only signifies a commitment to excellence and customer-centricity by both FAB and Mastercard but also sets a new standard for collaborations aimed at advancing digital transformation and redefining the payments ecosystem in the region.

With inputs from WAM