SimpliFi, the leading Cards as a Service (CaaS) platform for banking and fintech industries in MENA and Pakistan, and Abu Dhabi Islamic Bank (ADIB) Egypt, one of the most enterprising and digitally focused sharia-compliant banks in Egypt, have joined forces to help catalyze payment digitization for companies in Egypt.
This partnership brings SimpliFi’s innovative CaaS model to Egypt by leveraging SimpliFi’s deep technology and domain experience and strong client relationships together with ADIB-Egypt’s expertise in digital banking and understanding of the wider banking ecosystem. With the global exponential acceleration in the adoption of digital solutions, both SimpliFi and ADIB Egypt will work together to help companies issue scheme-enabled prepaid cards by reducing cost to launch and time to market.
“ADIB Egypt is at the forefront of digital banking innovation in Egypt, working closely with Fintech companies and technology startups to bring ‘market first’ propositions to the Egyptian market. We couldn’t have found a better partner to bring our unique CaaS model, as a first to market in Egypt.” said Ali Sattar, Founder and CEO of SimpliFi.
“As we continue to relentlessly accelerate and advance our digital transformation strategy, ADIB-Egypt looks forward with great enthusiasm to a progressive partnership with SimpliFi. Together we will redefine payment digitization helping companies take their financial transactions to the next level and inducing a host of benefits that extends beyond business to drive economic mobilization,” said Mohamed Aly, CEO and Managing Director of ADIB-Egypt. “Our collaboration with this innovative platform with a solid record of firsts, allows us to empower Egyptian companies by issuing payment cards as a gateway to more integrated financial digitization, aligning with the Central Bank of Egypt’s vision towards expanding the efficiency and use of e-payments,” added Aly.
Through this new partnership, the bank aims to continue to expand its portfolio of cutting-edge digital solutions to customers, especially companies, allowing them to issue, manage, and run their own card programmes.
Ahmed Effat, Consumer Banking Head at ADIB-Egypt, said: “Our partnership with SimpliFi is a pivotal step along our digitization journey. Its value is not only limited to leveraging the company’s integrated expertise in technology and digital payments but will include its extensive network of relationships with companies in Egypt as well as startups across the Middle East and North Africa that are looking to enter the Egyptian market.”
