"Abu Dhabi I" It adopts virtual card technology
Abu Dhabi, May 19 / WAM / Abu Dhabi Bank I announced the launch of a experimental solution for financial transactions and payments, as the virtual cards were adopted from MasterCard and integrated into the Oracle system to facilitate payments between companies.
Integration of the virtual cards platform from MasterCard directly into the “Oracle Fujin Cloud” institution planning system in addressing the common challenges and difficulties that hinder the conduct of commercial payments, such as the fragmentation of data, systems and operations.
Abu Dhabi Bank’s first customers will benefit from faster, safer and transparent payments, and the virtual card is to be resolved by manual tasks, simplifies the workflow, provides an immediate vision for cash flow and spending, which helps companies enhance operational efficiency and reduce costs.
Gina Petersen Skirm, First Vice President and Regional Director of MasterCard in the UAE and the Sultanate of Oman said: In light of the acceleration of the pace of transformations and changes in the business environment, companies of all kinds tend to use virtual cards to obtain a more easy and secure experience, and enhance the efficiency of the use of digital technologies in their operations, and we are proud of MasterCard by employing our innovative platform for virtual cards to provide service benefits Financial integrated in the Oracle Fujin Cloud system for Abu Dhabi Bank’s first customers.
For his part, Liam Nolan, Vice President of Application Development at Oracle, said: This partnership provides a highly efficient business sector that has proven its effectiveness in the field of consumer payments, and contributes to simplifying the process of registration of suppliers, reducing risk, improving working capital management for both buyers and suppliers, and this cooperation enables subscriber customers to simplify their main financial and operational transactions and enhance their financial resources management.
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