FAB pioneers Oracle-Mastercard embedded Finance Solution in MENA
First Abu Dhabi Bank (FAB) has become the first bank in the Middle East and North Africa (MENA) region to pilot an embedded finance and payments solution, developed jointly with Oracle and Mastercard. This partnership aims to transform business-to-business (B2B) finance and payment operations for FAB’s corporate clients. By combining Oracle’s ERP technology and Mastercard’s virtual card platform, the initiative targets improved efficiency, security, financial transparency, and stronger supplier relationships.
Streamlining Payments and Enhancing Transparency
The embedded solution integrates Mastercard’s virtual card system directly into Oracle Fusion Cloud Enterprise Resource Planning (ERP) software. Consequently, it tackles common issues such as fragmented data and disjointed processes that often plague commercial payments. The system automates manual tasks, simplifies workflows, and delivers real-time insights into cash flow and spending. As a result, businesses can boost operational efficiency while reducing costs, helping them meet their evolving financial needs.
Industry Leaders Highlight Collaboration Benefits
Gina Petersen-Skyrme, Mastercard’s SVP and Country Manager for UAE and Oman, expressed enthusiasm about leveraging their virtual card platform to extend embedded finance benefits to FAB’s commercial customers. Similarly, Liam Nolan, Vice President of Applications Development at Oracle, emphasized how this collaboration brings a familiar consumer payment method into the B2B space. It simplifies supplier onboarding, lowers risks, and improves working capital management for buyers and suppliers alike.
According to the 2024 ‘Payment Practices Barometer’, nearly 40% of businesses in the UAE identify inefficient payment processes as the main reason for delayed payments. Therefore, this new embedded finance solution addresses a crucial pain point, helping companies operate more smoothly and efficiently in an increasingly complex commercial landscape.
