Ooredoo business has signed a memorandum of understanding (MOU) with My Rateb to collaborate on new financial services.
RATEB is an e-wallet payment solution currently in the Central Bank of Kuwait sandbox that will introduce mobile financial services in the Kuwaiti market. The application will introduce efficient & seamless solutions for both employer and beneficiary to set up an account & settle their dues.
Rateb App shall work as a bridge between Ooredoo Kuwait and My Rateb’s customer base connecting both to a new scope of services and products for both Ooredoo Kuwait and Rateb customers. The two companies will partner to introduce innovative & robust financial technologies, in keeping pace with the countries approach towards becoming a financially technological hub and adopters of digitally advanced technologies, making financial transactions more seamless.
These digitally enabled solutions will serve the low paid and domestic helpers through technology, leveraging secure biometrics with a distinctive ease of implementation and use and will provide a transparent platform for the Employer Employee relationship.
The MOU was signed at a ceremony with the presence of Ooredoo Kuwait’s Chief Executive Officer, Mr. Abdulaziz Al-Babtain, along with the attendance of Mr. Esam Al-Dakheel, Chief Executive Officer at My Rateb.
Commenting on the occasion, Al-Babtain commented on this partnership saying, “At Ooredoo, we will continue in providing our customers with services and technologies that meet the demands of all segments of the market and meet the needs of their daily lives & activities. We, as a telecommunications company, are early adopters of financial technologies and solutions. This partnership is an exciting opportunity to provide both customer bases with robust and innovative technologies”.
Al-Dakheel from My Rateb also added: “I want to thank Ooredoo for being the visionary in partnering with us to provide such solutions to the market, it will enable us to develop and position game-changing solutions for all segments within the market. With customer and employee experience a top priority among Ooredoo’s management, we look forward to helping them with our solutions and digitally advanced technologies to deliver exciting experiences for their customers. Additionally I would like to thank the Central Bank of Kuwait for their continuous support and their vision in driving innovation and financial inclusion