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SAB has announced its collaboration with Ottu, a fast-growing financial technology company, to enhance digital e-payments. This partnership will provide SAB's business customers with an Online Payment Management Solution (OPMS) using direct integration with SAB's payment gateways in the Kingdom of Saudi Arabia.
This collaboration aims to develop and enhance the financial ecosystem of SAB’s customers with a seamless technical integration framework to enable fast online payment acceptance. Ottu's technology and expertise will provide merchants with a range of features and modules in a unified dashboard without a third party, and the Online Payments Management System (OPMS) includes an integrated technology that adds and enables additional payment methods such as quick checkout, digital wallets and more.
Commenting on this cooperation, Yasser Al-Barrak, CEO of Corporate and Institutional Banking at SAB , said: “Our partnership with Fintechs that provide the latest technologies such as Ottu reinforces our commitment to the Kingdom’s vision towards digital transformation. At the same time, it shows our commitment to be a major contributor in providing acceptance solutions to our clients working in the trade sector that save them time and effort.”
Youssef Al-Raqiba, General Manager of Global Cash and Liquidity 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 the sector.”
Talal Kamel Al-Awadi, CEO of Ottu, said: “We are excited to work with Al Awal to advance the development process in terms of digital banking services in the Kingdom, as advanced technology and experience in the field of financial technology will help the bank to provide its customers working in the trade sector in a modern and secure manner. and a seamless banking experience.”
The partnership between SAB and Ottu KSA demonstrates the increasing importance of digital transformation and innovation in this sector, and through this partnership, SAB continues its constant endeavor to strengthen its position as a leading financial institution in the region and achieve its strategic goals.
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