Visa partners digital banking and payments platform

The partnership will complement and address the already strong fintech ecosystem in that area

Bankable

Visa partners digital banking and payments platform. Source: shutterstock.com

Visa and Bankable, the global provider of “Banking as a Service” solutions, announced a strategic collaboration. The partnership covers the Central and Eastern Europe, Middle East and Africa (CEMEA) region.

Both Visa and Bankable aim to accelerate the digital capabilities of financial institutions, build and launch digital banks. What is more, they are willing to reduce cash usage and increase fintech sponsorship in CEMEA.

Bankable is opening an office at the Dubai International Financial Center (DIFC), called Bankable’s Middle Eastern hub. It would accommodate the collaboration between the banking platform and Visa.

The hub will allow the company to engage with the Dubai International Financial Center, the leading financial center of the region, composed of more than 2.000 active registered firms.

Our recent ’Stay Secure’ survey revealed increased preference for digital payments among consumers in the UAE and other key markets in the region. That and the efforts of visionary governments to develop connected cities make it a very exciting time for Visa, as an enabler of the payments ecosystem, to be bringing in new players like Bankable. Our strategic partnership with Bankable represents a great opportunity to further accelerate digital payments innovation in the region, and we look forward to bringing this partnership to our fintechs and bank clients to deliver innovative consumer experiences
Otto Williams, VP Head of Strategic Partnerships, Fintech & Ventures CEMEA at Visa

At the same time, Bankable will look to expand partnerships enabling faster time-to-market and relevant digital banking initiatives.

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