Riyadh - Sharikat Mubasher: The Omani-based BidBid Technologies signed a memorandum of understanding (MoU) with The Consultation Center to explore investment opportunities and expand into the Saudi market, the company revealed in a statement.
The agreement aims to enhance innovative services that revolutionize traditional concepts in banking and insurance transactions.
Fadi AlAwami, Founder of The Consultation Center, affirmed that BidBid’s services are crucial for enhancing the governance of financial services.
“BidBid's solutions would address a significant gap in the market, potentially increasing company profitability by an average of 25% when acquired by financial service providers. Additionally, the partnership could reduce the time required to complete financial operations by 67%,” he elaborated.
Meanwhile, Hani Macki, Founder and CEO of BidBid Technologies, commented: “We are excited about entering the Saudi market, known for its enthusiasm in supporting and embracing new and innovative financial technology services, particularly those from the Gulf and Oman. We also have plans to enter the Kuwaiti market with esteemed partners.”
The Consultation Center, based in Al Khobar, is a key supporter of small and medium-sized enterprises (SMEs), entrepreneurial ventures, and fintech firms. It offers a full suite of consultations to help clients overcome operational challenges and facilitate the expansion of their activities.
BidBid Technologies offers financial and insurance services to institutions dealing with banks and insurance companies through its digital platform.
