Home Editors pick Arab Financial Services forms strategic partnership with CRIF to implement Open Banking...

Arab Financial Services forms strategic partnership with CRIF to implement Open Banking Use Cases on the AFS Open Finance Platform

Arab Financial Services announces a strategic partnership with CRIF, a global company specializing in credit bureau, business information systems, outsourcing and data processing services. This partnership will serve AFS’s bank clients across the MENA region by supplementing the company’s state-of-the-art Open Finance technology platform with CRIF’s latest Open Banking use cases and solutions.

AFS will leverage its digital payments and technology expertise to ensure seamless and reliable technical and operational support for customers who are looking for a variety of Open Banking use cases and implementations on the AFS state-of-the-art Open Finance Technology Platform.

Samer Soliman, Chief Executive Officer of Arab Financial Services (AFS) commented: “AFS is leading the way in offering the latest technology, products, and solutions to support the region’s rapid digital growth in the financial sector. This collaboration will widen our deliverables to our bank clients, providing them more options and a spectrum of cutting-edge customer-centric solutions while reinforcing our position as the leading digital payment solutions provider and fintech enabler in the Middle East and Africa.”

CRIF is the leading provider in continental Europe of consumer and business credit information, and a key global player in integrated decisioning solutions, supporting over 10,500 financial institutions, 600 insurance companies and 82,000 business customers across 50 countries.

Roberto Ciraci, Head of Consulting and Solutions for CRIF Middle East, stated: “Open Banking is now a reality in the entire Middle East and CRIF is there, leveraging its expertise and end-to-end capabilities, collected over 30 years of presence in mature European markets. The CRIF Group – along with Strands, the CRIF company that focuses on creating highly personalized digital money management solutions – believes in disruption coming from Open Initiatives (Open Banking | Open Finance | Open Data), and by partnering with AFS we will be able to consolidate the market penetration in the region, by offering state-of-the-art and ready-to-go Open Banking use cases and solutions.