First Abu Dhabi Bank completes transition of its payments business into subsidiary Magnati

Tuesday 6 April 2021 12:47 CET | News

First Abu Dhabi Bank (FAB) has announced that it has completed the transition of its existing payments business into a fully owned and operational subsidiary, Magnati.

The new platform aims to give clients the opportunity to grow their core businesses by monetising data and using next generation technologies such as APIs, artificial intelligence, and machine learning capabilities to deliver better experiences and increased efficiency.

According to the company, the new payment solution completes the shift of FAB’s payments business and its transition from a transactional to a data-driven and platform business. All existing merchants and customers will changeover to Magnati and the bank’s POS and other customer facing devices will be rebranded.

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Keywords: FAB, online payments
Categories: Payments & Commerce
Countries: United Arab Emirates
This article is part of category

Payments & Commerce