Fils partners with AFS to drive sustainable digitalisation in MENA

Tuesday 14 May 2024 10:01 CET | News

UAE-based fintech Fils has teamed up with Arab Financial Services (AFS) to drive sustainable financial solutions and foster climate action across MENA.


The collaboration marks a significant step towards fostering sustainable practices and driving climate action across industries in the region. Leveraging Fils’s fintech technology and AFS's expertise and position in digital payments, the partnership will be key to helping integrate sustainability seamlessly into businesses' operations, customer journeys, and financial transactions.

Fils has teamed up with Arab Financial Services (AFS) to drive sustainable financial solutions and foster climate action across MENA.

Fostering sustainable solutions

AFS, which has offices in Bahrain, Egypt, Oman, and the UAE, is a prominent player in digital payments solutions and fintech, serving over 60 clients across more than 20 countries in the Middle East and Africa region. Fils’ partnership with AFS enables a significant proportion of banks, financial institutions, and organisations in MENA to track and mitigate their emissions, aiding the global transition to a low-carbon economy.

Officials from AFS commented that they are proud to join forces with Fils in a strategic partnership to drive sustainable solutions within the digital payments landscape. This collaboration directly supports their ESG strategic goals by accelerating their implementation. As a digital payments provider, they embrace the responsibility to drive sustainability not only for themselves, but also allow their partners and clients to achieve their own environmental ambitions.

Adding to the remarks, executives from Fils said they are happy to embark on this strategic partnership with Arab Financial Services. By combining their advanced digital infrastructure with AFS's leadership in electronic payments outsourcing, they have a unique opportunity to drive positive change across industries in the MENA region. Their shared commitment to sustainability and climate action will not only transform business operations but also redefine the landscape of responsible finance in the region and beyond.

Key highlights of the partnership between Fils and AFS include:

  • Sustainable digital transformation: Fils' enterprise-grade digital infrastructure will empower AFS to seamlessly integrate sustainability and climate action into its payments ecosystem. This includes developing innovative solutions that contribute to reduced carbon footprints and environmental impact;

  • Green financial products: The collaboration will explore opportunities to introduce sustainable financial products, with a specific focus on Islamic credit cards. By incorporating environmental, social, and governance (ESG) principles, both organisations aim to set new industry standards for responsible and ethical financial services;

  • Enhanced customer experiences: Fils and AFS will work together to enhance customer journeys by providing eco-friendly and sustainable options for electronic payments. This includes the development of user-friendly interfaces that promote responsible consumer choices and a positive environmental impact;

  • Industry Leadership in Sustainability: As pioneers in their respective fields, Fils and AFS will lead the financial and digital industries in the MENA region towards a more sustainable future. By combining their strengths, the partnership seeks to inspire businesses to prioritise sustainability in their business strategies and take measurable action to tackle climate change.

Fils’ partnership with AFS comes shortly after already multiple collaborations so far in 2024. Partnerships with e& Enterprise, Mashreq Bank, and Flowcarbon have cemented Fils’ place as a prominent player in sustainable financial infrastructure. The UAE-based fintech is ushering in a new era of corporate sustainability, enabling all organisations to contribute to the transition to a net-zero economy.

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Keywords: fintech, digital payments, sustainability , ESG, carbon footprint
Categories: Payments & Commerce
Companies: Arab Financial Services, Fils
Countries: Africa, Middle East
This article is part of category

Payments & Commerce

Arab Financial Services



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