ADIB-Egypt and Simplifi partner to expand the digital payments ecosystem in Egypt
By Edlyn Cardoza
SimpliFi, a Cards as a Service (CaaS) platform for banking and FinTech industries in MENA and Pakistan, and ADIB Egypt, one of the most enterprising and digitally focused sharia-compliant banks in Egypt, have joined forces to help catalyse payment digitisation for companies in Egypt.
“ADIB Egypt is at the forefront of digital banking innovation in Egypt, working closely with Fintech companies and technology startups to bring ‘market first’ propositions to the Egyptian market. We couldn’t have found a better partner to bring our unique CaaS model, as a first to market in Egypt.” said Ali Sattar, Founder and CEO of SimpliFi. “We are honored to partner with a progressive bank such as ADIB-Egypt allowing us to help businesses in Egypt drive payment innovation and efficiency.”
This partnership demonstrates both entities’ commitment to constant innovation, introducing unprecedented services and solutions to Egypt’s Banking and FinTech industries. It brings SimpliFi’s innovative CaaS model to Egypt by leveraging SimpliFi’s deep technology and domain experience and strong client relationships with ADIB-Egypt’s expertise in digital banking and understanding of the broader banking ecosystem. With the global exponential acceleration in the adoption of digital solutions, SimpliFi and ADIB Egypt will work together to help companies issue scheme-enabled prepaid cards by reducing the cost to launch and time to market.
“As we continue to relentlessly accelerate and advance our digital transformation strategy, ADIB-Egypt looks forward with great enthusiasm to a progressive partnership with SimpliFi. Together we will redefine payment digitisation helping companies take their financial transactions to the next level and inducing a host of benefits that extends beyond business to drive economic mobilisation,” said Mohamed Aly, CEO and Managing Director of ADIB-Egypt. “Our collaboration with this innovative platform with a solid record of firsts, allows us to empower Egyptian companies by issuing payment cards as a gateway to more integrated financial digitisation, aligning with the Central Bank of Egypt’s vision towards expanding the efficiency and use of e-payments,” added Aly.
Through this new partnership, the bank aims to expand its portfolio of cutting-edge digital solutions to customers, especially companies, allowing them to issue, manage, and run their card programs.
Ahmed Effat, Consumer Banking Head at ADIB-Egypt, said, “Our partnership with SimpliFi is a pivotal step along our digitisation journey. Its value is not only limited to leveraging the company’s integrated expertise in technology and digital payments but will include its extensive network of relationships with companies in Egypt as well as startups across the Middle East and North Africa that are looking to enter the Egyptian market.”
Effat pointed out that the partnership with SimpliFi will create and activate unprecedented digital solutions by utilising the platform’s capabilities to speed up and streamline the processes, improving customers’ financial experience in line with a fast-evolving digital payment ecosystem.
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