Boubyan and Mastercard: Strategic Agreement to Empower Fintech

Boubyan Bank and Mastercard have signed a new agreement aimed at empowering fintech companies, as part of their strategic partnership that reflects their shared commitment to fostering innovation and contributing to the growth of Kuwait’s fintech ecosystem. The agreement enables both parties to explore new collaboration opportunities and implement innovative solutions, leveraging Boubyan’s advanced banking infrastructure and operational and regulatory expertise, alongside Mastercard’s global network and technological capabilities in payments. This collaboration enhances the efficiency of digital financial services and supports the delivery of more seamless and secure customer experiences.

The signing ceremony was attended by Abdullah Al-Tuwaijri, Chief Executive Officer of Personal, Private, and Digital Banking at Boubyan Bank; Mark Elliott, Regional President for the Eastern Arab Region at Mastercard; and several senior executives and representatives from Mastercard.

Commenting on the occasion, Saleh Al-Mansour, General Manager of Consumer Products and Business Performance at Boubyan Bank, said: “This agreement underscores the importance of the ongoing collaboration between Boubyan and Mastercard, reflecting their shared vision for the future of financial services and digital payments. It enables the leveraging of both parties’ expertise in innovation to contribute to the development of Kuwait’s financial and technology sectors.” He added, “Supporting fintech companies is a key pillar of Boubyan’s strategy, helping them transform their ideas into scalable, viable solutions and supporting them through various stages of launch and expansion.”

Al-Mansour further explained: “Qualified fintech companies can benefit from Boubyan’s Banking-as-a-Service (BaaS) program, which enables them to develop more efficient products at a faster pace, allowing them to focus more on enhancing the quality of their solutions and user experiences, all within a framework that ensures the highest standards of governance, security, and regulatory compliance.”

He emphasized that these models embody Boubyan’s vision of building an integrated technological ecosystem that supports fintech companies throughout their development stages, thereby strengthening Kuwait’s position in the digital economy. The bank continues to expand its partnerships with leading global institutions, keeping pace with rapid transformations in the financial services industry and enhancing the readiness of the local market for the next phase.

On his part, Mark Elliott, Regional President for the Eastern Arab Region at Mastercard, said: “Kuwait’s advanced infrastructure and the continuous growth in the adoption of digital payments are creating new opportunities for innovation in the fintech sector. Our collaboration with Boubyan Bank reflects our shared commitment to supporting this progress and enhancing the contribution of fintech to the country’s digital economy.”