Following this announcement, the collaboration between Diamond Trust Bank and Network International, a digital payments company that serves the Middle East and Africa (MEA) region, will follow the financial institution’s digital-first strategy by expanding its overall digital payment product range. The firms will provide customers with a sound processing platform for hosting and issuing cards as well.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry.
Throughout this strategic deal, the initiative is expected to see Network International provide DTB with a suite of digital payment solutions that are backed by a range of robust security protocols. This will include fraud prevention and 3D Secure authentication. At the same time, the financial institution will also utilise Network International’s platform for debit, prepaid, and credit card hosting and processing, with the possibility to benefit from advanced transaction tools and a sophisticated API gateway.
In addition, the Diamond Trust Bank is also looking to accelerate its digital payment transformation in the region of Kenya, amid the surging interest in digital transaction solutions across the country, which is influenced by the rising international penetration and mobile phone usage. This process will focus on meeting the rising interest among the emerging middle class, SME, and youth market segments, especially the unbanked, for solutions that support a digital lifestyle and enable financial inclusion.
Network International will continue to provide its merchant customers with various online and offline transaction acceptance methods, while also managing and processing their users’ payment credentials and transactions.
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