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Next-Gen Open Banking Modular FaaS

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Next-Gen Open Banking Modular FaaS

September 08
22:30 2021

Riyadh – September 8th, 2021 – Interactive Smart Communications (ISC, www.iscc.sa) a subsidiary  of Mawarid Media & Communications Group, MMCG (a Saudi conglomerate), is announcing today the launch of the most advanced Fintech as a Service platform in the Middle East under the brand name FaaS.

Led by its Managing Director, Dr Husam Yaghi, a Fintech veteran who previously launched the 1st blockchain fintech company in Saudi Arabia and several other technology startups in the region.  FaaS has the ambition to take over the boiling Fintech market in the Middle East; according to numerous studies including Deloitte’s latest report.

With the power of open banking infrastructure and modular lego-type FaaS, any Fintech and Legacy Bank in the Middle East will have access with a single API to a one stop shop that spans from real time digital onboarding, real time ledgering, real-time card issuance/processing -plastic / virtual / prepaid / debit / credit card, FX, lending solutions, rewards marketplace and much more.  FaaS is already partnering with several banks in the region who will offer their Bins and access to payment rails which will allow a fast track launch for Fintechs in the MENA; a Saudi bank as well as a UAE bank will be announced soon.  To power its Fintech as a service platform, FaaS has selected Agora Services which is one of the most advanced next gen core banking platforms.

FaaS will allow any Fintech and legacy bank to launch the digital products they want or to have access to its fully prebuilt digital bank solutions -that can be white labelled- to address students, teenz, SME’s, pilgrims, expat workers, and other target segments. 

“We’re excited by this launch and partnership with Agora as this allows us to control the entire chain and provide best in class platform and services to our future clients,” announced Dr. Yaghi. FaaS allows client companies to benefit from the complete ecosystem provided by various companies of the Group.

For further details, contact ISC at [email protected].

Media Contact
Company Name: Interactive Smart Communications
Contact Person: Dr. Husam Yaghi
Email: Send Email
Phone: +966505374722
City: Riyadh
Country: Saudi Arabia
Website: https://iscc.sa/

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