As part of this alliance, PayTic is set to assist AFS’s internal operations and provide its suite of back-office automation models, including chargeback management, scheme and custom data reconciliation, scheme fee optimisation, and regulatory reporting, to the latter’s existing clients and regional banks. Through this, the two companies intend to simplify the end-to-end daily operations of users, scaling productivity, decreasing risks, and increasing value.
This latest partnership comes just a month after AFS joined forces with UAE’s Zand Bank to offer fintech companies processing services and the latter’s BIN Sponsorship and banking capabilities. The agreement was set to equip emerging players with the ability to issue prepaid cards and other banking services while prioritising security and efficiency.
The strategic partnership forged between AFS and PayTic underlines the former’s commitment to innovation and paytech solutions. Besides this, the company focuses its efforts on remaining compliant with regulatory requirements and laws of the industry. Integrating PayTic’s modules into its operations is set to enable AFS to continue to assist banks and financial institutions in achieving their financial objectives.
Moreover, representatives from AFS commented on the announcement, mentioning that working together with PayTic is set to optimise their company’s operations and scale efficiency in card programme management. Through this, clients can benefit from advanced tools and solutions, allowing them to navigate the current financial landscape more securely and conveniently. Also, the partnership intends to support the advancement of the paytech sector across the Middle East and Africa.
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