Home / / SAMA Capital signs partnership with Monami Tech

SAMA Capital signs partnership with Monami Tech

SAMA Capital will use Monami Tech's fintech solutions in its consumer and business lending project

SAMA Capital signs partnership with Monami Tech
SAMA Capital will utilise Monami Tech's solutions.

Al Hail ORIX Finance PSC, Parent company of asset financing company SAMA Capital has formed a strategic partnership with UAE-based fintech payments company Monami Tech.

The new partnership will collaborate to deploy Monami Tech's technology for SAMA's business and consumer lending project.

This initiative will be an integral part of Al Hail ORIX Finance's digital transformation with a full adoption of the platform now poised for completion.

A signing ceremony to announced the deal was held at the Address Boulevard in Dubai.

"Al Hail ORIX Finance is now ideally positioned to become a leading digitally empowered financial institution in the Country," said Ammar Afif, Managing Director, Monami Tech. "As a fintech disruptor, one of Monami Tech's major value pillars is the importance we attach to constant innovation. We created Lendme, a frictionless digital service for financial institutions to provide instant loans at the point of decision across multiple channels, from e-commerce to merchants, and through mobile application. Digitizing lending upfront and as such avoiding overheads and lead times usually associated with activating a branch or retail footprint, will facilitate SAMA's speed to market and give them a decisive edge with consumers.

"We work with institutions to bridge the gap between conventional and sophisticated services by utilizing a channel agnostic approach through modern digital solutions. As such we are delighted to be joining AL Hail ORIX Finance on this journey and look forward to helping them realize their vision and deliver on their business objectives."

Arshi Islam, CEO of Al Hail ORIX Finance PSC commented: "This is a vital technology partnership that will tangibly contribute to all aspects of our offering and visibly enhance the entire experience for our customers."

Follow us to get the most comprehensive IT solutions delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.