Intelligent CIO Middle East Issue 59 | Page 11


Hakbah signs strategic partnership with Visa to issue prepaid cards

Microsoft report : 16 % of Saudi institutions consider AI a top priority

Stc Academy has announced the winners of the AIDEA Competition for Artificial Intelligence ( AI ) which was held in cooperation with Microsoft Arabia with the aim of developing the AI skills of business directors at stc and enable them to generate innovative ideas to enhance the efficiency of the telecommunication sector .

The participants of AlDEA Competition received the necessary guidance to help them expand their horizons and prototype their ideas through business simulations .
One of the many findings in the report is that there are still 21 % of organisations in Saudi Arabia that have not yet formalised AI as a digital priority . As opposed to this , there is 16 % who see AI as the most important digital priority .
Naif AbuSaida – Founder , Hakbah

Hakbah , an alternative financial saving platform based in Riyadh , Saudi Arabia , has signed a multi-year strategic partnership agreement with Visa , a global provider of digital payments , to issue Visa prepaid cards to its customers in the Kingdom and GCC .

In terms of the strategic partnership agreement , Hakbah will be enabled to issue Visa prepaid cards to customers in Saudi Arabia and GCC .
Hakbah is modernising financial saving via its intelligent platform by offering a comprehensive one-stop-shop solution for Savings Groups to initiate , manage , join and pay directly within the mobile app . The solution offers customers a convenient and simple method for Savings Groups ’ habit .
“ We are proud to partner with Visa and we envision this will enable Hakbah and Visa to work closely in accelerating secure and convenient payment and alternative financial saving solutions .
“ The partnership could not have come at a better time considering the growth opportunities in Saudi Arabia – estimated at US $ 6 billion annually – for digitalising payments , increasing capitalisation of savings and for better savings solutions for the underbanked ,” said Naif AbuSaida , Founder of Hakbah .
AbuSaida said the partnership is in line with Vision 2030 and will reflect positively on achieving the UN Sustainable Development Goals and Saudi Financial Sector Programme .
Nasser S Alnasser , CEO , stc Group , commended the fruitful co-operation with Microsoft Arabia and said building digital skills , especially AI skills of stc employees is part of the company ’ s commitment and strategy .
“ Stc ’ is leading and investing heavily in the 5G which Artificial Intelligence services depend mainly and the company recently won the award for the fastest 5G mobile network for the second quarter of 2020 according to SEEPDEST . We have the largest and most reliable network in the Kingdom .”
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