SAB has announced its collaboration with Ottu, a fast-growing payment fintech, to enhance its Digital Payments Solution.
This partnership will “provide SAB merchants with an Online Payment Management Solution (OPMS) using direct integration with the payment gateways provided by SAB.”
This collaboration aims “to simplify the technical integration framework to quickly enable the online payment acceptance through a seamless experience.”
Ottu’s technology and expertise will “offer merchants a range of features & modules in a unified dashboard.”
OPMS will “incorporate integrated technology that adds and enables additional payment methods such as express checkouts and digital wallets etc. introduced by the Bank.”
Commenting on the collaboration, Mr. Yasser Al-Barrak, CEO of Corporate and Institutional Banking at SAB said:
“Our partnership with fintechs providing cutting edge technology such as OTTU enforces our commitment to the vision of the Kingdom toward digitization. At the same time, it shows our commitment towards being a major contributor in providing acceptance solutions to our merchants which will ease efforts and save time for them.”
Yousef Al-Rugaibah, General Manager of Global Liquidity and Cash Management at SAB, said:
“This cooperation comes within the framework of our accelerated steps to implement the integrated digitization strategy for the banking products and services that we provide, in accordance with the highest quality standards, in a way that enhances our constant endeavor to improve customer experience and enrich banking sector.”
Mr. Talal Kamel AlAwadhi, CEO of Ottu, stated:
“We are excited to work with SAB to revolutionize the digital banking landscape in Saudi Arabia. Our cutting-edge technology and expertise in fintech will help SAB provide its merchants with a modern, secure, and seamless banking experience.”
The partnership between SAB and Ottu KSA “demonstrates the increasing importance of digital transformation and innovation in the sector.”
With this partnership SAB is reinforcing its position as a leading financial institution in the region while also achieving its strategic goals.
(SAB) represents “the new identity of The Saudi British Bank (SABB), which has recently announced the change of its commercial name and re-launched its new identity.Upon receiving regulatory and shareholder approval, the business will be carried out under the new commercial name of ” Saudi Awwal Bank”.”
As noted in the update, “SABالأول ” claims it is “one of the largest banks in Saudi Arabia dating back nearly 100 years and has since been an active partner in supporting the Kingdom’s economic growth and social development.”
SAB offers “a variety of financial and banking services, including corporate and investment banking, private banking and treasury services, as well as leadership in innovation, digitization, and the adoption of ESG standards.”
It operates “under the supervision and control of the Saudi Central Bank, and it has a strategic partnership with HSBC.”
The bank’s paid-up capital “is 20.5 billion Saudi riyals.”
