Thursday, October 14, 2021 – 8:29 PM
DUBAI, 14th October (WAM) — Commercial Bank of Dubai and Bahrain-based financial services firm Infinius today announced that they have entered into a strategic partnership to support the financial technology ecosystem in the United Arab Emirates.
This strategic partnership will allow Commercial Bank of Dubai to achieve goals that embody innovation and commitment to provide innovative digital financial services in the UAE and will enable Infinios to expand its banking services as a unique service that includes local payment services in the UAE.
Infinius Banking offers the Infinite platform for technical financial solutions with its own regulatory licenses, payment networks and financial services provided by its network of banking partners in the Middle East and North Africa, the European Union, the United Kingdom and the United States of America In addition, it allows access to comprehensive digital banking and payment technologies via Simple built-in APIs that enable its clients to build and experience rich financial services experiences in order to scale clients’ product range from local to international.
Andrew Sims, CEO of Infinius, said: “Entering a long-standing partnership with Commercial Bank of Dubai, which will enhance and support Infinius’ comprehensive financial services to its customers and distribution partners, will enable the provision of our digital banking services and issuance of processing technologies along with CBD’s reputation in market”.
Amit Malhotra, General Manager, Retail Banking Group at Commercial Bank of Dubai, said: “Our partnership with Infinios aligns with our commitment to support the UAE’s growing fintech ecosystem and enhance the inclusive digital business environment. The number of FinTech companies has increased significantly in the last year due to the COVID-19 pandemic.”
Commercial Bank of Dubai and Infinius will make further announcements related to the first services to be launched under the strategic partnership in the near future.
Wam / Mubarak Khamis / Awad Al Mukhtar / Reda Abdel Nour