AFS and Zand Bank partner to empower FinTechs in MENA

By Gloria Methri

Arab Financial Services (AFS), the digital payment solutions provider and FinTech enabler in MENA, has signed a strategic agreement with UAE’s Zand Bank. This collaboration aims to provide FinTechs and emerging players with AFS’s processing services and Zand Bank’s BIN Sponsorship and banking facilities, enabling them to issue prepaid cards and other banking solutions quickly and easily.

FinTechs looking for BIN sponsorship will be able to access AFS’s latest card processing capabilities through Zand’s BIN  with AFS, facilitating quicker market entry and supporting the rapid development of innovative financial products in the region.

AFS CEO Samer Soliman said, “Our partnership with Zand represents a significant milestone in our mission to empower FinTechs with the tools and infrastructure they need to innovate and grow. We are committed to nurturing a dynamic, efficient, and powerful ecosystem that will drive the next wave of digital transformation in the financial services sector.”

Zand CEO Michael Chan added, “Our collaboration with AFS enables FinTechs to focus on what they do best—innovation and customer acquisition. By providing the necessary infrastructure and compliance framework, we are lowering the barriers to entry for new financial players, thereby driving greater innovation and inclusivity in the financial services industry.”

In an announcement, AFS stated that the partnership underscores its commitment to advancing the digital economy and reinforces the company’s position as a critical enabler of innovation in the region’s financial services landscape.

“By providing seamless access to essential payment infrastructure, Zand and AFS empower FinTechs to accelerate their growth and deliver cutting-edge solutions. This will ultimately drive greater financial inclusion and foster a more competitive market,” it added.