Fintech
Mashreq Selects FinTech Profinch to Drive Global Expansion
By Gloria Methri
Today
- Atumverso
- Bahrain
- Banking products
Mashreq has integrated Indian FinTech Profinch as a strategic technology partner for its global expansion, with the company consolidating its key technological transformations.
The partnership will see Mashreq and Profinch collaborate on technology transformation programs to strengthen Mashreq’s position in markets and drive global expansion. As part of the strategic alliance, Profinch will deploy Oracle’s corporate and digital banking products across Payments, Trade, and Digital Experience domains in Oman, Pakistan, the United States, the United Kingdom, and Hong Kong.
Mashreq has been working with Profinch for several years, successfully leading the go-live of projects Oracle corporate and digital banking products in the UAE, Bahrain, Qatar, Kuwait and Egypt. Additionally, Profinch’s Host2Host application, which supports 150 ERPs and was developed using Profinch’s Atumverse framework, is live in all five countries.
Mohamed Abdel Hamid Abdel-Razek, Head of Technology, Transformation and Information Group at Mashreqsaid, “Our continuous pursuit of providing superior customer experience is our driving force to seek innovative partners who are key stakeholders in generating value for our customers. Profinch’s deep domain expertise and implementation capabilities will be instrumental in transforming Mashreq’s corporate and digital banking landscape and we consider Profinch our trusted advisor.”
Kiran Kumar, Executive Director, Profinchadded, “Profinch has been at the forefront of technology transformation in the financial services and insurance industry, and this collaboration is a testament to our deep expertise and knowledge. With over 100 SMEs and Profinch technologists working on the Mashreq project, we have one of the largest specialized transaction banking and digital banking teams dedicated to this strategic project. We look forward to strengthening this partnership and helping Mashreq achieve its technological, business and operational goals.”
This strategic partnership will see the convergence of Mashreq’s unwavering commitment to its customers and Profinch’s relentless drive for excellence, all with the sole aim of generating value and satisfaction for the end customer.