aTP- Arab tourism portal News
By William Faria
DUBAI: The increasing volume of paperless transactions across the UAE shows that the country is rapidly advancing towards a completely digitized finacial ecosystem.
Studies have shown a gap in digital financial products that could offer corporates transparency, flexibility and seamless experience of making payments evading the inefficient paper work. To address this gap, SAMA is introducing its first product: SAMA Corporate Payment Solution.
Apart from simplifying the overall purchase process, SAMA Corporate Payment Solution is an end to end digital business solution and includes smart accounting and analytical tools, corporate charge card, AI-based virtual assistant and corporate-relevant instant rewards.
With SAMA, corporations will gain access to a new era of digital financial services that will help them become more efficient and agile. Moreover, SAMA aims to significantly reduce costs for corporates to do financial transactions.
Mohamed Mazrouei, Vice Chairman of Al Hail ORIX said: “The increasing volume of paperless transactions across the UAE shows that we are quickly moving towards a completely digitized financial ecosystem. Therefore, it is important for businesses to digitize their processes seamlessly and cost effectively with the right tools. At SAMA, we aim to provide our customers with the best technologically advanced financial tools to help them make the right financial decisions, to grow the business and stay ahead of the game.
In addition, Arshi Islam, CEO of Al Hail ORIX added: “The global financial and economic landscape is constantly evolving and every technological advancement changes the way businesses work and communicate with each other. We seek not only to stay on trends but to create new ones.”
In addition to a corporate payment solution, SAMA will soon be introducing market-defining financial products such as real-time lending, smart marketplace, and business digital wallets.
Moreover, SAMA will soon introduce Microfinance, remittance and savings solution for the unbanked in the region.