Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has partnered with the UAE-based financial technology (FinTech) company DenekB to expand its digital payment services for consumers in the country.
The partnership is part of Visa’s Fintech Fast Track programme for enabling the UAE residents with a registered DenekB account to create their virtual visa prepaid card instantly, according to a press release on Tuesday.
The platform also offers digital prepaid solutions for cashless money transfers and contactless payments.
The Group Head of Retail Banking at ADIB, Philip King, said: "We are excited to be the first UAE bank to partner with DenekB. This partnership speaks to our accelerated deployment of market-leading digital capabilities that deliver a simple, affordable, and convenient solution to cater to their payment needs to keep pace with the way that we live, work, and do business."
Meanwhile, the Founder and CEO of DenekB, Kamal Asif, commented: "This partnership is further testament to our commitment to providing consumers with convenient, safe and secure high-quality financial services especially for the people who now more than ever need it the most – the underbanked individuals & underserved merchants."