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Royal Strategic Partners (RSP), representing Naqd Group, SAP Fioneer GMBH and MBME Group, will form a joint venture to create a hub for digital innovation and technological advancement.
The memorandum of understanding signed between the entities provides for the creation of nodes in the rapidly emerging digital economies of the MENA region and the Indian subcontinent.
The new “Center of Excellence” in Abu Dhabi is the first element of the centre, focusing on the banking, investment, insurance and related financial services industries.
The MoU was signed by Matthias Tomann, Chairman of SAP Fioneer, Dr. Hamad Al Ali, CEO of RSP, and Ali Mohamed AlBadi, Chairman of MBME Group, at a ceremony held at RSP headquarters in Abu Dhabi. Senior representatives of the three companies were also present at the event.
collaboration platform
The creation of this collaborative platform will bring together professionals and experts in the fields of finance and technology to foster innovation and knowledge exchange. The program will work to develop cutting-edge solutions and best practices that will enable financial institutions to effectively serve customers in the digital age.
Dr. Hamad Al Ali, CEO of RSP, noted that this pioneering initiative and the establishment of the Center of Excellence in Abu Dhabi is a testament to their commitment to digital innovation and technological advancement in the financial sector, saying: “We believe that the partnership with SAP Fioneer will We provide invaluable insights and expertise to help us better serve our clients and stay ahead. By collaborating and sharing knowledge with market leading institutions, the Center of Excellence will play an important role in driving the UAE’s digital development ” towards a sustainable and The future of innovation. Headquartered in Abu Dhabi, the center will drive industry growth and development across the MENA region and Indian subcontinent. ”
Tomann said: “We are delighted to be partnering with RSP and MBME, in partnership with Naqd Group, on this unique venture that begins with a Center of Excellence. Our shared expertise in financial technology and other cutting-edge technologies will enable us to create groundbreaking solutions program to promote growth, efficiency and competitiveness of the financial sector in the region. We firmly believe that this will further strengthen our activities and contribute to our ability to drive innovation in the MENA region.”
research and development
Albadi said the center would focus on research and development, training and capacity building, as well as the creation of new products and services. “It will also facilitate collaboration among fintech companies, financial institutions, government departments, and other stakeholders in the financial ecosystem,” he added.
The signing of the MoU marks an important milestone in the development of Naqd Group and MBME Group.
As one of the leading solution providers and accelerators in the fintech space, MBME Group is committed to innovation and growth within the financial ecosystem. Through the partnership with SAP Fioneer RSP and Naqd Group, MBME will expand its knowledge and capabilities, strengthen investment and promote technological advancement.
Together, this partnership lays the groundwork for a new era of digital innovation and growth in the financial sector, in line with the vision of the UAE leadership. — trade arab news agency
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