QNB Group, the largest financial institution in the Middle East and Africa, has entered a strategic partnership with TransferMate, a global provider of embedded B2B payments infrastructure. This collaboration will expand QNB's offerings by integrating TransferMate's technology, providing corporate clients worldwide with enhanced global receivables solutions and multi-currency local account capabilities.
Quick Intel
QNB Group partners with B2B payments firm TransferMate.
The deal integrates TransferMate's technology into QNB's banking platform.
Corporate clients gain multi-currency cross-border collection services.
Benefits include reduced transaction fees, faster times, and better cash flow.
This is TransferMate's first banking partnership in the Middle East.
The move supports QNB's broader digital transformation strategy.
The partnership is designed to directly address the complex needs of QNB's corporate clients engaged in international trade. By integrating TransferMate's award-winning technology, QNB can now offer businesses the ability to invoice and receive cross-border payments in multiple currencies. This capability significantly improves cash flow management by reducing transaction times and costs, while also providing greater transparency and easier reconciliation for corporate treasuries.
This collaboration marks a significant milestone as TransferMate's first banking partnership in the Middle East. It represents a strategic move by QNB to leverage best-in-class fintech solutions to enhance its own service portfolio. For TransferMate, the partnership provides a substantial entry into the MEA region through one of its most prominent financial institutions, capitalizing on its existing alliances with major global brands.
The integration of embedded payments infrastructure is a key step in QNB's ongoing digital transformation journey. By embedding TransferMate's services directly into its platform, QNB is moving beyond traditional banking models to offer more seamless, efficient, and innovative solutions. This reinforces the bank's position as a leader in delivering future-ready financial services that meet the evolving demands of a global corporate clientele.
The partnership between QNB and TransferMate signals a growing trend of traditional banks collaborating with specialized fintechs to compete in the digital economy. By combining QNB's extensive regional reach and banking expertise with TransferMate's sophisticated payment technology, the alliance is poised to set a new standard for B2B cross-border banking services in the Middle East and Africa.
QNB Group is one of the leading financial institutions in the MEA region and among the most valuable banking brands in the regional market. Present in over 28 countries across Asia, Europe, and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals dedicated to driving banking excellence worldwide.
TransferMate is a leading provider of embedded B2B payments technology, helping companies, software providers & financial institutions to streamline their global receivables, payments, & local account needs. TransferMate owns the largest E-Money / payment license network of any fintech, regulated in 92 jurisdictions and owning 99 licenses.
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