Oman Arab Bank and AFS Partner Launch Revolutionary Digital Payment System
Oman Arab Bank and Arab Financial Services Strengthen Partnership for Digital Banking Innovation
In a significant move for Oman's digital banking sector, Oman Arab Bank (OAB) and Arab Financial Services (AFS) have expanded their strategic partnership. This renewal aims to enhance Oman's digital payments infrastructure with a new, advanced platform [1].
The revitalized alliance advances the collaboration into a new era, with both parties demonstrating a shared commitment to pioneering innovation in digital banking experiences across Oman. The new digital payments platform, engineered for today's dynamic payments landscape and future-proof operations, is set to offer unparalleled speed, scalability, and configurability [1].
One of the key features of this expanded partnership is the integration of advanced tokenization for global digital wallets. This technology supports services like Apple Pay, Samsung Pay, and Google Pay, positioning Oman Arab Bank as one of the first banks in Oman to adopt such next-generation digital payment capabilities [1].
Mr. Samer Soliman, CEO of AFS, and Mr. Sulaiman Al Harthi, CEO of OAB, have both commented on the expanded partnership. Mr. Soliman emphasized the decades-long partnership between AFS and OAB, and the shared dedication of both entities to digital banking innovation. Similarly, Mr. Al Harthi's comment highlighted OAB's commitment to innovation that enhances customer experience and future-proofs services [1].
The strategic renewal solidifies AFS's leadership in the region's fintech space, while OAB's migration to AFS's new digital platform sets an elevated benchmark for digital banking experiences across Oman. This move aligns with OAB's digital transformation agenda, as they strive to deliver future-ready digital banking experiences [1].
The renewal of the partnership between AFS and OAB is a collective intent to create a new landscape of secure, agile, and customer-centric financial services in Oman. It reaffirms a shared commitment by AFS and OAB to pioneering innovation in digital banking experiences, and cements OAB's position at the vanguard of Oman's rapidly evolving digital payments landscape [1].
In conclusion, the renewal is pivotal for advancing Oman's digital banking ecosystem by integrating advanced payment technologies, driving seamless and secure digital transactions, and fostering financial innovation in alignment with regional fintech growth trends [1]. This collaboration impacts the digital payments landscape in Oman by accelerating the country's transition to faster, more scalable, and configurable digital payment services that are designed to meet both current and future payment needs. It elevates the digital banking experience for customers, promotes secure and customer-centric services, and reinforces innovation leadership within the region's fintech sector. This strategic renewal thus supports Oman Arab Bank's digital transformation goals and establishes AFS’s role as a leading fintech player in the Middle East and Africa [1].
[1] Source: Company Press Release
The strategic renewal of the partnership between Oman Arab Bank (OAB) and Arab Financial Services (AFS) is a significant step towards spearheading innovation in the finance business by leveraging advanced digital technology in the digital banking industry. This collaboration positions OAB as a frontrunner in adopting next-generation digital payment capabilities, such as global digital wallet services like Apple Pay, Samsung Pay, and Google Pay.
The partnership aims to revolutionize the digital payment landscape in Oman, making way for more agile, secure, and customer-centric financial services, aligning with regional fintech growth trends and supporting OAB's digital transformation agenda.
