CBI partners with Areeba to Boost FinTech Payments in UAE

CBI Partners and Areeba to Drive FinTech Growth and Digital Payments in the UAE

Commercial Bank International (CBI) and UAE-based Areeba, a leading global provider of payments infrastructure, have joined forces to support the country’s rapidly expanding FinTech industry. The collaboration aims to provide reliable, scalable and secure card management solutions to facilitate FinTechs’ growth and improve the digital payments landscape in the UAE.

Through this partnership, CBI will work with FinTechs to effectively launch, manage and scale digital payment solutions using Arepa’s cutting-edge payment technology. The UAE already accounts for 46% of MENA FinTech businesses, and this agreement will accelerate the growth of the country’s FinTech sector by deploying innovative, cutting-edge solutions that drive the digital transformation of financial services.

The CEO of CBI, Ali Sultan Rakkad Al Amri, said in a statement that the partnership with Areeba demonstrates CBI’s dedication to enabling FinTechs in the UAE by offering them cutting-edge payment solutions. He emphasized how this collaboration supports CBI’s long-term goals of fostering innovation in the financial services sector and advancing the UAE’s ambitions to become a global center for FinTech development.“Together with areeba, we aim to propel the growth of the FinTech ecosystem in the UAE and help businesses succeed in an increasingly dynamic financial landscape,” Al Amri said.

Areeba CEO Maher Mikati expressed his enthusiasm for the collaboration, pointing out that it will provide the UAE market with a full-service card issuance program management solution. He emphasized Areeba’s dedication to supporting FinTechs and neobanks by providing scalable, flexible, and modular payment infrastructure. This will allow businesses to launch personalized card programs and accelerate the adoption of advanced payment systems to meet evolving customer needs.

Additionally, the strategic partnership expands on CBI’s larger emphasis on FinTech investment. Recent initiatives, such as its collaboration with zypl.ai, a company specializing in generative AI lending solutions, are examples of this. These initiatives demonstrate CBI’s continued commitment to integrating cutting-edge technologies into the financial services industry, establishing the bank as a pioneer in fostering innovation, and aiding the expansion of the FinTech ecosystem in the UAE.