First Abu Dhabi Bank (FAB) has become the first bank in the Middle East and North Africa (MENA) to pilot an embedded finance and payments solution, developed in collaboration with Oracle and Mastercard.
The partnership leverages the strengths of both organisations to enhance business-to-business (B2B) finance and payments for FAB clients, improving efficiency, security, financial transparency, and supplier engagement.
By embedding Mastercard’s virtual card platform into Oracle Fusion Cloud Enterprise Resource Planning (ERP), the solution addresses challenges such as fragmented systems, disconnected processes, and limited visibility in commercial payments, offering clients a streamlined and integrated payment experience.
The virtual card automates manual tasks, improves workflows, and provides real-time insights into cash flow and spending, helping businesses manage costs and boost operational performance.
This initiative aligns with FAB’s commitment to delivering innovative digital solutions that meet the evolving needs of corporate clients.
Gina Petersen-Skyrme, Senior Vice President and Country Manager for UAE and Oman at Mastercard, expressed the company’s pleasure in supporting FAB as it expands embedded finance benefits to its commercial customers through Oracle Cloud ERP.
Liam Nolan, Vice President of Applications Development at Oracle, noted that the collaboration brings a proven consumer payment model to the B2B environment, simplifying supplier onboarding, mitigating risks, and improving working capital management.
According to the 2024 ‘Payment Practices Barometer’, nearly 40 per cent of UAE businesses cite inefficient payment systems as a key cause of payment delays.
