Manama, Kingdom of Bahrain - Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, has announced a strategic partnership with Lune Technologies, a leader in financial data analytics and enrichment based in the UAE and a key player within Dubai’s DIFC and Abu Dhabi’s Hub71 tech ecosystem. Together, they plan to innovate financial data services by introducing advanced data enrichment solutions for banks, fintechs, and financial institutions.

AFS plays a crucial role in transforming how businesses and consumers interact with financial services, thanks to its comprehensive digital payment systems and innovative fintech solutions. Recognized for elevating financial services through technology, Lune specializes in unlocking the value of transaction data with advanced enrichment and analytics. Their efforts have empowered financial entities to harness the power of their data more effectively. By joining forces, they aim to set new benchmarks in financial data services, enhancing the sector's efficiency, decision-making, and user experiences.

Key Benefits and Features

The partnership will deliver a comprehensive suite of financial data services, designed to:

  • Provide deeper insights into banking consumer spending behaviors.
  • Enhance financial decision-making for businesses and consumers alike.
  • Drive innovation in financial products and services through data-driven insights.
  • Transform banking and payments transaction data into powerful, actionable insights for customers

Mr. Samer Soliman, CEO of AFS, stated, “Our partnership with Lune supports our goal to offer innovative, cutting-edge financial solutions. It leverages the best of both worlds, Lune’s enrichment engine and our state-of-the-art digital payment products and services. We aim to enhance the financial sector's efficiency and set new standards when it comes to user experiences.”

Mr. Helal Tariq Lootah, Co-founder and Co-CEO of Lune, commented on the partnership, “Partnering with AFS allows us to reach a wider audience, deepen our impact, and brings us closer to revolutionizing financial services across the MENA region. Our shared efforts will make financial insights more accessible and actionable for financial institutions around the region.”

As AFS and Lune align on this partnership, the focus is on long-term growth and the continuous enrichment of the financial ecosystem in the region. Both entities are committed to exploring new avenues for leveraging data analytics and payment technologies to meet evolving market needs.

About AFS:

Arab Financial Services (AFS) was formed in 1984 to provide payment products, services and expertise to banks and merchant groups and deliver customized payment solutions in an increasingly divergent, disruptive, and dynamic payment ecosystem.

AFS is owned by 37 banks and financial institutions and serves over 60 clients in more than 20 countries across the Middle East and Africa. Today, AFS is the region’s leading digital payment solutions provider and fintech enabler. Regulated by the Central Bank of Bahrain and the Central Bank of Egypt, its dedication to innovation has made AFS a driving force in the market offering a rich portfolio of payment solutions including Open Banking Hub, popular digital wallets, market-leading merchant acquisition services, digital payroll solutions and more. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in the Kingdom of Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates.

About Lune

Lune is a Transaction Data Enrichment and Analytics company with a mission to simplify financial data for leading MENA banks, financial institutions and fintechs. The company's innovative analytics enables businesses to drive revenue while delivering personalized experiences based on actual fact of spending and earning habits. For more information, please visit www.lunedata.io

For More Information:To learn more about the Lune-AFS partnership, please contact:
Lune Press Office
Email: waleed@humansaucer.com
Phone: +971 58 183 6696

AFS Media Relations
Email: pr@afs.com.bh
Phone: +973 17 299 9711

This strategic partnership marks a significant step forward in the evolution of financial data services, promising enhanced capabilities and innovation for banks across the MENA region.