Fiserv is one of the key partners facilitating Commercial Bank of Dubai ’ s modernisation campaign . Here , we explore how the company became a leader .
Driving Transformation for Commercial Bank of Dubai
Fiserv is one of the key partners facilitating Commercial Bank of Dubai ’ s modernisation campaign . Here , we explore how the company became a leader .
Fiserv is dedicated to helping businesses and individuals move money and information in a secure and reliable manner . A strong believer in the power of technology to enable solutions for daily challenges and conscious that innovation can take on many forms , the company ’ s approach is cogently summed up in its core aspiration , “ To move money and information in a way that moves the world .”
A leading global provider of payments and financial technology with a presence in over 100 countries , Fiserv exhibits a full-spectrum client base including financial institutions , corporations and merchants . Serving millions of clients through approximately 44,000 associates , an exceptional workplace culture has netted the company consistent industry praise : Fortune has ranked Fiserv among the ‘ World ’ s Most Admired Companies ’ for seven consecutive years . Distinctly down-to-earth and customer-centric , Fiserv focuses on solving the real-world problems people face : “ People aren ’ t thinking about financial services , but they are thinking about when their next bill payment is due , or how they are going to save to buy a house ,” says Jossan Maalouf , general manager , Middle East & Africa at Fiserv . “ Money is a part of our everyday lives and we ’ re committed to enabling people to move and manage it with ease , speed and convenience .”
Commercial Bank of Dubai ( CBD ) is one client in particular that has been reaping the benefits of working with Fiserv . Partnered since 2009 , CBD has benefited from using FirstVision™ , a single platform , to support all their credit , debit , prepaid and merchant acquiring processing needs whilst also utilising fraud management and prevention capabilities . This scalable , resilient and robust system ensures consistent service delivery and performance , coupled with localised support in the UAE .
Looking ahead and considering the constantly shifting financial services landscape CBD , and other clients in the region , will benefit from FirstVision facilitating fast-track deployment for new capabilities using high level parameter controls and advanced , real-time APIs . The platform will deliver operational and compliance efficiencies whilst ensuring CBD are able to provide a high level experience for all their customers .
“ The potential for payments transformation in the Middle East and Africa ( MEA ) region is massive . It is a market with around 350 million cards in circulation ( credit , debit and prepaid ) and , at this stage , the MEA digital payments market remains highly underpenetrated because it is still heavily reliant ( 80 %) on cash payments ,” states Maalouf . “ The MEA region has the lowest proportion of digital transactions with a ratio of 17 % compared to 74 % for North America and 51 % for Europe . Therefore , the growth potential is significant in this region .” working , not just in the UK but globally .”
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