Fils, the fast growing, UAE based enterprise-grade digital infrastructure provider enabling companies to embed sustainability and climate action into their business models, today announced a major partnership with Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler.
The collaboration marks a significant step towards fostering sustainable practices and driving climate action across industries in the region. Leveraging Fils’s state-of-the-art fintech technology and AFS's expertise and regional leadership position in digital payments, the partnership will be key to helping integrate sustainability seamlessly into businesses' operations, customer journeys, and financial transactions.
AFS, which has offices in Bahrain, Egypt, Oman, and the UAE, is an industry leader 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 the MEA to track and mitigate their emissions, aiding the global transition to a low-carbon economy.
Samer Soliman, CEO of AFS commented: "We are proud to join forces with Fils in a strategic partnership to drive sustainable solutions within the digital payments landscape. This collaboration directly supports our ESG strategic goals by accelerating their implementation. As a leading digital payments provider, we embrace the responsibility to drive sustainability not only for ourselves but also empower our partners and clients to achieve their own environmental ambitions."
Nameer Khan, CEO of Fils, said: "We are thrilled to embark on this strategic partnership with Arab Financial Services. By combining our advanced digital infrastructure with AFS's leadership in electronic payments outsourcing, we have a unique opportunity to drive positive change across industries in the MENA region. Our 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 is hot on the heels of an impressive roster of collaborations so far this year. Exciting partnerships with e& Enterprise, Mashreq Bank and Flowcarbon have cemented Fils’ place as a global leader 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.