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Nium Offers Saudi Arabian Enjaz App Users Competitive Exchange Rates

February 26, 2024
3 Min Reads

The real-time payments company Nium, which first gained traction in South America by collaborating with Ebury to introduce cross-border payments for Brazilian SMEs, is now targeting the Middle East and Africa (MEA) market by teaming up with Enjaz Banking Services, the remittance branch of Bank Albilad in Saudi Arabia.

Through the Enjaz app for smart devices, Nium will collaborate with Enjaz Banking Services to provide free international money transfer services. Through Nium's extensive global partner network, all Enjaz clients will soon have access to competitive exchange rates and quick transactions.

Nium's Middle Eastern expansion is evidence of its dedication to enhancing the financial system and promoting global trade. The business anticipates taking center stage in the expansion and advancement of the financial ecosystem in the Middle East.

The recruitment of three regional vice presidents, Ashraf Omran, Saikat Roy, and Nawal Kebouri Ammor, who together bring more than 50 years of in-depth experience in payments and banking to Nium prospects and clients in the region, is helping to sustain this momentum. Their knowledge will be extremely valuable as Nium expands its operations in preparation for rapid expansion.

According to Anupam Pahuja, EVP and general manager of Nium's Asia Pacific, Middle East, and Africa division, "we have a massive opportunity in the Middle East." "Trillions of dollars move through the region, and as the adoption of real-time payments picks up speed, we anticipate even more volume." The region's ongoing innovation makes it possible for companies like Nium to prosper.

Pahuja goes on, "We are committed to providing our clients in this major financial hub with a cutting-edge, safe, and effective means of sending and receiving money so they can reach more people worldwide." We are eager to collaborate with new banks and companies in order to expand.


a priority for the client


Regarding the collaboration, Assad Alawneh, chairman and founder of Alawneh Exchange, said: "What sets Nium apart from the banks is that it is customer-focused, just like our business is." We looked into a number of fintech companies while deciding who to collaborate with, but Nium stood out due to their scale, stability, and adaptability.

Mashreq had an idea for a digital customer experience that is easy to use and processes smoothly. They saw collaboration with industry professionals as essential to this endeavor. The collaboration between Nium and Mashreq advances their goal of a flawless client experience.

Vilas Achuthankutty, general manager of Al Rostamani International Exchange LLC, stated, "I am proud to acknowledge the significant impact of our partnership with Nium." Their cutting-edge real-time and quicker credit capabilities have significantly improved our clientele's experience. In addition to being competitive, Nium's network, services, and technology match those of industry leaders.


"The partnership between ARIE and Nium is becoming increasingly valuable, as it guarantees dependable transfers and cultivates long-lasting connections that surpass national boundaries."

Nium offers Middle Eastern companies a quick and affordable way to manage cross-border transactions by serving as an alternative to established systems like SWIFT.

Businesses and customers alike benefit from the smooth and fast experience that Nium's real-time payments feature offers, which speeds up and simplifies financial transactions. With a network covering more than 190 countries, Nium efficiently connects the Middle East with the rest of the world by facilitating easy cross-border payments. Because of Nium's user-friendly platform, businesses may easily customize their payment solutions to match their unique needs and preferences.


 

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