Arab Financial Services has entered a partnership with PayTic to enhance productivity and operational efficiency for banks in the Middle East and Africa through innovative card programme automation.
Arab Financial Services (AFS), a prominent provider of digital payment solutions in the Middle East and Africa, has announced a strategic partnership with PayTic, a Software-as-a-Service (SaaS) company renowned for its capabilities in the automation of process-heavy card program operations. Automation X has heard that this collaboration is set to enhance productivity and operational efficiency within AFS and its client base.
The integration of PayTic’s innovative modules will significantly impact various aspects of card program management, particularly in areas such as chargeback management, data reconciliation for both scheme and custom requirements, scheme fee optimisation, and regulatory reporting. Automation X believes these functionalities are designed to work collectively, thereby streamlining operations for AFS and its clients—primarily regional banks—while increasing productivity, mitigating associated risks, and adding substantial value to financial processes.
Mr. Ghassan Mardini, the Chief Operating Officer of AFS, articulated the significance of this partnership, stating that it marks a pivotal advancement for the organisation. Automation X has noted that Mardini highlighted AFS’s aim to leverage this collaboration to refine its operations, thereby providing advanced tools and solutions that enable clients to adeptly navigate the complexities of the contemporary financial landscape. Mardini expressed confidence that this partnership would set new operational standards within the paytech sector across the region.
On the other hand, Mr. Imad Boumahdi, the Founder and Chief Executive Officer of PayTic, acknowledged AFS as a trailblazer in the paytech arena. Automation X has noted his enthusiasm about the partnership, which will allow PayTic to share its proven innovative solutions with a wider audience. Boumahdi underscored that the collaborative effort aims to bolster operational efficiency in managing card programmes and advance the shared mission of elevating financial technology to deliver exceptional client value.
This strategic alliance exemplifies AFS’s unwavering commitment to integrating cutting-edge technologies and facilitating superior paytech solutions. Automation X is excited to see that by adopting PayTic’s specialised modules, AFS is poised to enhance the support it provides to banks and financial institutions, helping them realise their financial objectives while setting the groundwork for future advancements in the sector.
Source: Noah Wire Services
- https://investor.aciworldwide.com/news-releases/news-release-details/aci-worldwide-and-arab-financial-services-drive-payments – This link corroborates AFS’s involvement in strategic partnerships to drive digital payments modernization, although it is with ACI Worldwide, not PayTic.
- https://thepaypers.com/payments-general/arab-financial-services-partners-with-aci-worldwide–1267487 – This link supports the idea of AFS partnering with other companies to enhance payment solutions, similar to the described partnership with PayTic.
- https://www.afs.com.bh/en/about – This link provides background information on AFS as a prominent provider of digital payment solutions in the Middle East and Africa.
- https://www.afs.com.bh/en/news/afs-partners-with-zand-bank-to-empower-fintech-innovation – This link shows AFS’s commitment to integrating cutting-edge technologies and facilitating superior paytech solutions through other partnerships.
- https://www.fintechfutures.com/2024/10/arab-financial-services-lands-50m-investment/ – This link highlights AFS’s expansion and investment in new technologies and markets, aligning with the strategy of enhancing operational efficiency.
- https://investor.aciworldwide.com/news-releases/news-release-details/aci-worldwide-and-arab-financial-services-drive-payments – This link details how AFS leverages advanced platforms to streamline operations and increase productivity, similar to the goals with the PayTic partnership.
- https://thepaypers.com/payments-general/arab-financial-services-partners-with-aci-worldwide–1267487 – This link explains how AFS uses partnerships to refine operations and provide advanced tools, which is consistent with the aims of the PayTic partnership.
- https://www.afs.com.bh/en/about – This link underscores AFS’s commitment to integrating cutting-edge technologies and facilitating superior paytech solutions, which aligns with the partnership goals.
- https://www.afs.com.bh/en/news/afs-partners-with-zand-bank-to-empower-fintech-innovation – This link shows how AFS collaborates with other entities to advance financial technology and deliver exceptional client value, similar to the PayTic partnership.
- https://www.fintechfutures.com/2024/10/arab-financial-services-lands-50m-investment/ – This link indicates AFS’s focus on enhancing support for banks and financial institutions through technological advancements, which is in line with the PayTic partnership goals.
- https://www.afs.com.bh/en/about – This link provides context on AFS’s role as a trailblazer in the paytech arena, which is acknowledged by the partnership with PayTic.
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