National Commercial Bank (NCB) and Mastercard have announced an exclusive partnership to foster payments innovation in Saudi Arabia. NCB and Mastercard will partner to roll out a suite of card-based payment products and collaborate to develop and deliver advanced technology solutions that augment the payment experience for NCB customers.
As NCB scales up its operations to strengthen its position as the leading banking groups in the Middle East, the partnership will further enable the bank to deliver world-class solutions to its growing customer base.
Alsharif Khalid Al-Ghalib, Senior Executive Vice President, Head Retail Banking Group, NCB commented: "This strategic agreement with Mastercard comes as part of our relentless efforts to deliver the latest and most innovative payment solutions to our customers. As the leading bank in Saudi Arabia, we are delighted to engage in this long-term partnership with Mastercard to leverage their global expertise and network to drive innovation and support the evolution of the Kingdom's financial ecosystem."
Khalid Elgibali, Division President, Middle East and North Africa, Mastercard said: "We are delighted to extend our relationship with NCB, one of Mastercard's longstanding partners in the region, to foster payments innovation in the market and further support the Kingdom's transition towards a more digital economy. Together, NCB and Mastercard will elevate the customer experience by offering cutting-edge digital solutions across NCB's private banking, wealth management, personal banking and youth segments, making every interaction with its solutions a priceless one."
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Mastercard Communications Contact
Jandré Nieuwoudt, +971 4 391 4200
About The National Commercial Bank (NCB)
The National Commercial Bank (NCB) is the Saudi Arabia's largest financial institution. Since its foundation in 1953, people have considered NCB a trusted partner in their professional and personal lives, and a symbol of innovation and leadership.
NCB's growth and development over 65 years has mirrored the Kingdom's progress towards modernity and continuous improvement. Today, NCB has a unique bond of trust with its more than 6.7 million customers, meeting their needs through outstanding products, services, and innovative solutions, and harnessing technology to enhance their experience.
NCB defined its vision to be the "Premier Financial Services Group in the Region", and to achieve this, five strategic aspirations have been defined: to be Number One in Revenues and Profit; Best Digital Bank; Best in Customer Service, Employer of Choice". The Bank's success in pursuing these aspirations was reflected in its five consecutive years of outstanding financial results, the recent of which was 2018, where NCB Net Income increased by 8.8% to reach SR 10,667 million.