First Abu Dhabi Bank (FAB) has become the first in the MENA region to pilot an embedded finance and payments solution developed in partnership with Oracle and Mastercard.
The collaboration aims to modernise business-to-business (B2B) finance and payments processes for FAB’s corporate clients by integrating Mastercard’s virtual card platform directly into Oracle Fusion Cloud Enterprise Resource Planning (ERP) software.
The solution addresses long-standing challenges in commercial payments, such as fragmented systems, manual processes, and lack of data visibility, by offering a more streamlined and automated approach without the need for complex technology overhauls.
Through this partnership, FAB’s clients stand to benefit from improved payment automation within Oracle’s ERP system, greater security via single-use virtual card numbers, and enhanced financial oversight through real-time insights into cash flow and expenditure.
The solution also seeks to improve supplier relationships by enabling faster and more reliable payments, easing reconciliation processes, and supporting cross-border transactions under Mastercard’s global network.
Gina Petersen-Skyrme, Senior Vice President and Country Manager for UAE and Oman at Mastercard, commented,
“In an increasingly fast-paced environment, businesses of all kinds are turning to virtual cards to bring the ease, security, and efficiencies of digitisation to their operations. At Mastercard, we are delighted to leverage our innovative virtual card platform to expand the benefits of embedded finance in Oracle Cloud ERP to FAB’s commercial customers.”
Liam Nolan, Vice President of Applications Development at Oracle, said,
“This collaboration introduces a proven consumer payment method to the B2B world, simplifying supplier onboarding, reducing risk, and enhancing working capital management for both buyers and suppliers. Mutual customers can now streamline key finance and operational functions and enhance working capital management.”
Featured image credit: Edited by Fintech News Middle East, based on image by gesrey via Freepik
