Qatar Banks Could Be 'Trail-Blazers' For World-Leading Payme...| MENAFN.COM

Monday, 08 August 2022 06:39 GMT

Qatar Banks Could Be 'Trail-Blazers' For World-Leading Payments System


(MENAFN- The Peninsula) The Peninsula

Doha: Banks in Qatar could act as trail-blazers for a world-leading, fraud-inhibiting, super-fast global payments system fit for the next century, if they seize the opportunity being offered by a UK-headquartered fintech business. 

DigiDoe launched operations in Doha this week and is targeting banks in the Middle East as part of its plan to revolutionise the world's out-dated paymentsinfrastructure.

Designed from scratch, DigiDoe's patented multi-factor biometric-based anti-money laundering (AML) and fraud prevention solution provides a secure, tailor-made, AI-driven platform for financial institutions and central bank digital currencies (CBDC).

Tony Hajjar, recently appointed as DigiDoe's Head of Operations, Qatar, said:“DigiDoe has created a pioneering, next generation, all-in-one unique solution, and can now offer its fully-integrated, innovative, proprietary technology to forward-thinking banks here in the Middle East. 

“I believe that we have the answer to the question many central and commercial banks have been asking - how do we offer a world-beating payments system fit for the next century? “If banks in Qatar want to be leading the way, at the forefront of the world's new, faster, safer payments infrastructure, they should get in touch.”

Hajjar has more than 20 years of experience in project management and business development in Doha and the region.

DigiDoe has put the world's central and commercial banks firmly in its sights, having received crucial international security certification for its innovative proprietary anti-money laundering (AML) and fraud prevention solution. 

Pavel Guzminov, founder and CEO of DigiDoe, said:“Our mission in Qatar is to support and develop growth of the Qatar economy.

“We are privileged to have Tony Hajjar on board. Tony will enhance our presence in Qatar, building key business relationships, strengthening our co-operation with the local regulator and engaging directly with banks. 

“The time is right for a major digital transformation of the payments infrastructure across the region and if the opportunity is seized, Qatar can be seen as a trail-blazer for the rest of the world.”

London-based DigiDoe recently unveiled its super-fast 'Banking as a Service' (BaaS) solution. 

The new BaaS service utilises DigiDoe's patented technology and comes with embedded proprietary anti-money laundering (AML) & fraud prevention systems. It offers onboarding of business and corporate clients, transaction monitoring, as well as domestic and cross-border payments in multiple currencies via a single API.

Global sales of BaaS solutions are expected to reach $3bn in 2022 with growth up to $12.2bn by 2031.

DigiDoe is authorised by the UK's Financial Conduct Authority as an electronic money institution and last month was awarded ISO27001 Certification - recognised worldwide as confirmation of information security best practice.

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