Tuesday 17 December 2019
Bankable, the global provider of 'banking as a service' solutions, and Visa have announced a strategic collaboration within the Central and Eastern Europe, Middle East and Africa (CEMEA) region.
Bankable aims to work with Visa to accelerate the digital capabilities of financial institutions, build and launch digital banks, reduce cash usage and increase fintech sponsorship in CEMEA.
Bankable has opened an office at the Dubai International Financial Center (DIFC), which will be Bankable’s Middle Eastern hub. This will allow the company to engage with the DIFC's 2,000-plus active registered firms. Bankable will complement and address the already strong fintech ecosystem in the region. The company will look to foster partnerships that enable faster time-to-market and relevant digital banking initiatives.
Bankable has served prestigious global clients headquartered in Dubai for the past three years. Not only is Dubai home to global head offices and Visa’s CEMEA base, but some of Bankable's existing clients in Europe and North America are now looking to expand in the region, it said.
Bankable has the ambition to design, federate and operate a fintech magnet supported by pre-approved regional bank sponsors to facilitate the onboarding of global scale-ups and contribute to strengthen the DIFC ecosystem.