Virgin Mobile Awarded Banking Agent License Through Saudi Investment Bank

SourceFintechnews Middle East
SectorFinancial Services
CountrySaudi Arabia

Telecom provider Virgin Mobile was awarded a banking agent license through the Saudi Investment Bank, allowing it to offer electronic international remittance to its customers in KSA. Under the agreement, The Saudi Investment Bank and Virgin Mobile will use their combined capabilities and expertise to build, develop and commercially execute a unique value proposition and strategically positioned solutions for the end user. This builds on the joint digital infrastructure to provide electronic international remittance services through its strong distribution presence and network in the Kingdom, providing customers with easy, fast and more convenient digital financial services that enhances the mobile experience through fintech. This follows the launch of mobile compatible life insurance plans launched in November 2019 by the FRiENDi brand in Oman. Advertisement Commenting on the partnership and strategic plans, Erik Dudman Nielsen, Group CEO, Virgin Mobile Middle East & Africa said: Erik Dudman Nielsen “Virgin Mobile Middle East & Africa have already made a meaningful impact on the industry by launching the region’s first mobile virtual network operator with the FRiENDi brand in Oman, followed by the first fully digital mobile service with the Virgin Mobile brand in UAE and KSA, and we are excited to be part of yet another first for more...