back Back

Triterras & Mamun to offer short-term lending solutions to MSMEs in Oman

By Delisha Fernandes

January 04, 2024

  • APIs
  • Banking
  • Big Data/Analytics
Share

TriterrasTriterras, a FinTech company focused on digital trade and supply chain finance has announced a strategic alliance with Oman-based Mamun, an embedded FinTech infrastructure as a service and finance provider.

This collaboration harnesses Triterras’ technological expertise and leverages Mamun’s experience in Oman’s financial services sector. The partnership will initially target the Micro, Small and Medium-sized Enterprise (MSME) finance sector in Oman, with a specific emphasis on the food and beverage industry. The collaboration will also enable Triterras to offer the KRATOSTM financing platform to banks in Oman on a white-label basis.

“One of the key challenges for startups and micro businesses is a lack of capital and financing, which hinders growth and accessibility to markets. Our primary aim is to enable MSMEs with access to immediate and workable financial solutions to maintain business continuity and foster growth opportunities,” said Ashish Srivastava, Chief Commercial Officer at Triterras. “This collaboration strengthens our commitment to deliver cutting-edge finance solutions that meet the evolving needs of businesses in Oman, and the wider Middle East region. This 2-way agreement facilitates Triterras’ expansion in the MENA region.”

As part of the alliance, Triterras will introduce eDirect Debit, a direct debit payment technology developed by Mamun, in the UAE. eDirect Debit is designed to offer businesses a seamless and highly efficient payment solution, with the aim of enhancing the ease of handling transactions within the region.

With Oman’s vibrant market in mind, this collaboration potentially makes a substantial impact on businesses looking for finance by simplifying access to financial resources. As with Triterras’ global mission, the partnership will support MSMEs, enhancing financial inclusivity for businesses in Oman.

“We are excited to witness the expansion of our eDirect Debit technology into the UAE through our collaboration with Triterras,” said Mohammed Al Tamami, Co-Founder and Chief Commercial Officer, at Mamun.

Previous Article

January 04, 2024

Solva secures $20m investment from the Sawiris family & ZCP

Read More
Next Article

January 04, 2024

Intergiro partners with Silverflow for global card processing technology

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

APIs

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 09, 2024

Bandhan Bank launches trade products to boost global business transactions

Read More

June 28, 2024

ADIB selects Silent Eight to automate compliance screening

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024