The National Bank of Bahrain (NBB), and global payment technology solutions company, Mastercard have announced a strategic seven-year partnership to enhance their existing offerings and ensure to deliver NBB’s clients a distinguished, digital-first experience with value-added benefits. The authorization of the partnership took place during Mastercard’s Mena Executive Council’s inaugural event that was held in Paris, France.
The collaboration and consultancy will lead to the accumulation of a full suite of new premium products, in conjunction with a focus on digital-first issuance to assist NBB deliver a digitally native experience to their clients.
This partnership would enable National Bank of Bahrain’s to boost its extensive and diverse portfolio with the launch of debit, credit, prepaid cards, incorporating the addition of Mastercard’s digital solutions into NBB’s advanced loyalty platform, Points, as well as to other digital solutions by both participants.
Credit offering
Additionally, the partnership comprises a credit offering and the unveiling of the NBB’s highest tier of cards, aimed at ultra-high-net-worth (UHNWI), presenting priceless travel and lifestyle events and advantages. It would be the first issuance for Mastercard’s World Elite Exclusive portfolio in the market.
The Chief Executive for Retail Banking at National Bank of Bahrain, Subah Al Zayani stated that the partnership will offer their customers an exceptional digital experience with an assortment of benefits at their disposal. NBB continues to elevate its offerings while providing a digital-first approach, aligning NBB in conjunction with Mastercard as industry leaders in line with the NBB’s commitment to ongoing digital transformation. NBB is committed to further diversifying their digital offerings by optimising their business and partnering with renowned institutions in the line of work.
New heights
Khalid Elgibali, the Division President for Middle East, and North Africa (MENA) at Mastercard stated that the company’s latest collaboration takes their relationship to new heights and strengthens their position as the partner of choice for key financial institutions, who can leverage their innovative digital payments technology to drive diversification, differentiation, and eventually development.
Elgibali stated that as the demand for emerging payments and choice persists, it involves an extensive range of payment solutions, insights, and products to meet the accelerating enthusiasm for the future state of pay. He further added that, at Mastercard people aim at continuously rising to the challenge as part of their objective to build a more sustainable and inclusive digital economy.
About National Bank of Bahrain (NBB)
National Bank of Bahrain (NBB) was established in the year 1957, it is the Kingdom’s first locally owned bank. A proudly Bahrain brand, National Bank of Bahrain continues to develop their capabilities every day, across the years, utilizing their expertise to better serve those who put their trust in NBB. Regionally present and dedicated to their local community, their history lies in Bahrain. NBB is present in three operating countries – Bahrain, Kingdom of Saudi Arabia (KSA), and United Arab Emirates (UAE).
About Mastercard
Mastercard has been a pioneered technology to make payments simpler, smarter, and safer, for more than 50 years now. Mastercard’s discoveries include:
Curated sessions: Through bespoke engagements, Mastercard address customer problems and ways to bring innovative solutions to life.
Interactive spaces: Interact with leading-edge demos, data visualizations and virtual reality where the customers can explore the company’s products and services.
Co-creation opportunities: From customer meetings to virtual workshops, they connect customers to the resources to create and launch their customers’ vision.
Mastercard has furthered benefits to numerous companies, from fintech’s to banks to telcos and governments.