Mobily To Launch Financial Services Solutions In Saudi Arabia In Collaboration With Ericsson
Press release
During the event
Highlights
Mobily introduces financial services for consumers, further supporting cashless payments and in line with Saudi Vision 2030 in collaboration with Ericsson
In the presence of Chief Executive Officer of Mobily: Eng. Salman Al-Badran, Chief Executive Officer of Ericsson: Börje Ekholm and President of Ericsson Middle East and Africa, Fadi Pharaon, a cooperation agreement to launch financial services has been signed by the Chairman of the Board of Directors of Etihad Fintech Company: Mr. Ismail Al-Ghamdi and Vice President of Ericsson Middle East and Africa: Mr. Ekow Nelson where Mobily has selected Ericsson (NASDAQ: ERIC) to launch the Financial Services and provide solutions for Saudi customers. Mobily’s new initiative supports the Financial Sector Development Program, which is part of the Vision 2030, which aims to increase the share of Saudi Arabia’s cashless payments to 70 per cent by 2030.
Ayman A. Aleissa, Chief Executive Officer at Etihad Fintech Company says: “Mobily strives to enhance customer experience with a first-of-its-kind, next-generation financial services platform that enables secure and convenient journey for consumers. With the right technology partner like Ericsson, our ambitions to roll out new services that provide added benefits and features to propel financial inclusion and achieve the goals of the Saudi Vision 2030.”
Ekow Nelson, Vice President of Ericsson Middle East and Africa says: “Mobile financial services are a key driver in enabling digital transformation in today's world. Together with Mobily, we aim to make financial services as intelligent and intuitive as possible so Saudi consumers can access and perform secure, financial transactions anytime, anywhere. Our mobile financial solutions will help Mobily extend its trusted brand into financial services and lay the foundation for growing revenues in adjacent markets."
Ericsson's mobile financial services are secure, functional, and easy to use, driving customer and partner growth throughout the mobile-commerce eco-system. Deployed globally, Ericsson's pioneering offerings empower service providers to reduce related costs, attract new customers, drive customer loyalty while accessing new revenue streams, a win-win strategy which drives financial inclusion
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Background Information
Ericsson
Ericsson is one of the leading providers of Information and Communication Technology (ICT) to service providers, with about 40% of the world’s mobile traffic carried through our networks. We enable the full value of connectivity by creating game-changing technology and services that are easy to use, adopt and scale, making our customers successful in a fully connected world. For more than 140 years, our ideas, technology and people have changed the world: real turning points that have transformed lives, industries and society as a whole.
Etihad Etisalat (Mobily)
Etihad Etisalat (Mobily) is a Saudi company established in 2004. The Company’s major shareholders are Etisalat Emirates Group (27.99%) and the General Organization for Social Insurance (11.85%). The remaining shares are owned by institutional and retail investors.
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