Abu Dhabi, UAE: In a groundbreaking move for the financial services industry in the Middle East and North Africa (MENA), First Abu Dhabi Bank (FAB) has become the first bank in the region to launch an embedded finance and payments solution, developed in collaboration with Oracle and Mastercard.
Through this collaboration, Mastercard’s virtual card technology is incorporated directly into Oracle Fusion Cloud ERP. This integration allows for sophisticated automation of payment processing for corporate customers, ensuring security and efficiency throughout the life cycle of business transactions. This development, shown to the public during the Oracle CloudWorld Tour in Dubai, is a profound advancement in B2B payments innovation in the area.
FAB’s corporate clients can now automate manual finance tasks, reduce operational costs, and gain real-time insights into spending and cash flow. The solution tackles long-standing challenges in commercial payments—fragmented systems, inefficiencies, and security risks—by offering:
Embedded payment automation: Payments are triggered directly within the ERP, eliminating the need for external platforms or costly integrations.
Enhanced security: Each transaction is protected using single-use virtual card numbers, minimizing fraud risks.
Cash flow optimization: Businesses benefit from extended working capital options, consolidated financial data, and potential rebates.
Supplier satisfaction: Quicker and more reliable payments streamline vendor relationships and reconciliation.
Global reach: FAB customers can execute compliant cross-border transactions via Mastercard’s vast global network.
According to the 2024 Payment Practices Barometer, nearly 40% of UAE businesses cite inefficient payment systems as a major cause of delayed payments. This collaboration directly addresses that gap—bringing speed, transparency, and accountability to corporate transactions.
Gina Petersen-Skyrme, SVP and Country Manager, UAE & Oman at Mastercard, commented:
“In today’s fast-paced world, businesses are embracing digital tools like virtual cards to improve operations. Our partnership with FAB and Oracle unlocks the full potential of embedded finance for corporate clients in the region.”
Liam Nolan, VP of Applications Development at Oracle, added:
“By bringing a proven consumer payment experience to the B2B space, we’re helping organizations simplify operations, reduce risks, and improve supplier collaboration.”
With total assets of AED 1.31 trillion (USD 356 billion) and a presence in over 20 markets, FAB continues to lead in innovation, sustainability, and customer-centric banking. As a bank rated among the world’s safest, FAB’s move into embedded finance showcases its commitment to tech-driven, future-ready solutions for businesses of all sizes.
