DATA SECURITY PAYMENTS SOLUTIONS
Payments Plan Houssam Chaker Regional Sales Head, Volante Technologies explains that banks in the Middle East are in the midst of significant digital changes that bring many challenges, but by educating their clients about new processes, they can smooth the path to developing smarter and faster payments systems and their accompanying benefits
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escribe what makes payments such fertile ground for innovation in Middle East banking.
Payments in the Middle East are picking up pace, fast. As the region continues its path toward instant payments,
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banks need to develop faster and more sophisticated technology platforms to comply with regulations and meet customer demands. With all the developments taking place, UAE NPSS, KSA IPS, BUNA, GCC RTGS, SWIFT gpi, to name a few, banks in the Middle
Banking and Finance news in the MEA market
East have many competing priorities to contend with. The Middle East has recently seen significant growth as a FinTech hub both for investors and techsavvy innovators - broadly speaking, the Middle East is amid profound digital change. Geographical Advantage Egypt holds a unique opportunity within the Middle East region due to its geographical placement, bridging the gap between the two major regions and beyond. Cross-border payments are important in the Middle East, with two of the world’s three largest remittance corridors located in the UAE and Saudi Arabia. According to Mckinsey & Company, they handled $78 billion dollars in payments in 2020, equating to 7 percent of the GDP of the two nations combined. Two-thirds of survey respondents (67 percent) said bilateral arrangements between countries for
