FOO, an award-winning provider of B2B SaaS solutions, has signed an agreement with Network International, the Middle East and Africa’s leading enabler of digital commerce (MEA). The two companies will streamline the transformation of incumbent financial institutions into innovative and agile players by combining their technology and expertise via an out-of-the-box digital wallet platform.
Ghady Rayess, Managing Partner at FOO, comments: “By partnering with Network International, we will strengthen our presence throughout the Middle East and aid our transition into the more diverse markets of Africa. We see eye-to-eye on our vision to accelerate the adoption of customer-centric digital solutions in the region, and thus look forward to hitting the ground running.”
The digital wallet platform will be made available to Network International’s issuer clients, which include banks and other financial institutions, to assist them in adapting to market demands for seamless, secure, and convenient digital solutions. The white-label platform can be tailored to meet unique and specific business requirements thanks to an array of customizable, easy-to-integrate modules such as digital onboarding, stored value accounts, virtual card issuance, and remittances.
FOO will provide the platform’s technology through its portfolio of financial microservices, which will be built in-house using a modular ‘plug and play’ model. FOO’s hyper-personalized products, with customer-centricity at the core of its strategy, are designed to bring banking and financial services into the digital-first world, with the added benefit of exceptionally fast time-to-market.
Navneet Dave, Managing Director and Co-Head of Processing – Middle East at Network International, shared: “Our business strategy is to harness the power of strategic partnerships that will support our clients in digitising their payment infrastructures. We’re thrilled to be able to leverage FOO’s unique capabilities in fast and configurable fintech solutions to further enrich our own offerings and accelerate innovation.”
Network International will provide schema support based on its relationships with local banks, thanks to its unparalleled regional footprint that serves over 200 financial institutions. Network International will bring its extensive network and expertise to put the digital wallet platform into action, based on a long-standing and trusted track record with many leading banks and financial institutions.
