FOO, Network International partner to enhance digital experiences in the Middle East and Africa

FOO, a provider of B2B SaaS solutions, has signed an agreement with Network International – the enabler of digital commerce across the Middle East and Africa (MEA).

The two companies plan to combine their technology and expertise in order to streamline the transformation of incumbent financial institutions into innovative and agile players via a digital wallet platform.

The platform will be offered to Network International’s issuer client which are is banks and other financial institutions. This will help them to adapt to the market and meet consumer demands for seamless, secure and convenient digital solutions.

With an array of customisable, easy-to-integrate modules including digital on-boarding, stored value accounts, virtual card issuance and remittances, the white-label platform can be tailored to meet unique and specific business requirements.

FOO will supply the technology behind the platform through its portfolio of financial microservices, built in-house using a modular ‘plug and play’ model.

Network International, with its regional footprint that serves over 200 financial institutions, wilprovidehe schema support based on its relationships with local banks. It will also leverage its network and expertise to put the digital wallet platform into action.

Ghady Rayess, managing partner at FOO, commented: “By partnering with Network International, we will strengthen our presence throughout the Middle East and aid our transition into the more diverse markets of Africa. We see eye-to-eye on our vision to accelerate the adoption of customer-centric digital solutions in the region, and thus look forward to hitting the ground running.”

Navneet Dave, managing director and co-head of Processing – Middle East at Network International, shared: “Our business strategy is to harness the power of strategic partnerships that will support our clients in digitising their payment infrastructures. We’re thrilled to be able to leverage FOO’s unique capabilities in fast and configurable fintech solutions to further enrich our own offerings and accelerate innovation.”

Meanwhile, earlier this year, FOO also teamed up with NymCard, a backend-as-a-service provider and modern card issuing platform to provide a fully-fledged digital payment solutions for innovators in the Middle East and North Africa.

FOO’s converged wallet platform combined with NymCard’s card issuing platform aims at providing a turnkey solution that allows innovators to create unique business proposition through card programmes.

Read: FOO, NymCard partner to bring end-to-end payment solutions for innovators in MENA

Also read: An overview of the Middle East fintech landscape