Latest news with #IBAN
Yahoo
02-06-2025
- Business
- Yahoo
ZEN.COM Partners With Episode Six to Accelerate Card Issuance Expansion Across Europe and Asia
Strategic collaboration enables to launch card programs with speed, control, and global scale LONDON, June 02, 2025--(BUSINESS WIRE)--Episode Six, a leading global provider of enterprise-grade card issuing and ledger infrastructure, has been selected as the strategic technology partner by the European fintech redefining how people and businesses manage money globally, to power the launch of new debit card programs across Europe and Asia as part of international expansion. The partnership marks a significant milestone for both companies: is entering the Asian market, while simultaneously launching new ZEN card programs in Europe. Episode Six will provide the infrastructure to support both efforts, enabling to deliver modern, flexible card experiences at speed. chose Episode Six for its strong, established presence in Asia to support its launch into the region, and for its proven ability to deliver rapid go-to-market timelines globally—capabilities unmatched by legacy providers. The collaboration adopts a cooperative authorization model, allowing to retain control of its ledger while using Episode Six's powerful card issuing and transaction processing capabilities. " is entering a pivotal growth phase, and we're proud to support their journey," said John Mitchell, CEO and Co-Founder of Episode Six. "This partnership underscores what we hear from our clients everywhere—they're looking for speed, configurability, and control. Our infrastructure delivers all three." "As we expand our footprint across Europe and launch in Asia, we need partners who can move with the same agility and ambition that defines said Michal Boguslawski, CEO, Europe of "Episode Six stood out for its proven ability to deliver fast, flexible, and scalable infrastructure. This collaboration gives us the freedom to build differentiated card experiences on our terms." Beyond its strategic importance for the partnership reflects a broader shift in the market. Even established fintechs are moving away from legacy providers in favor of platforms that offer greater agility, faster deployment, and global scalability. Episode Six's modular architecture is proving especially valuable to companies seeking modern infrastructure without overhauling their core systems. provides innovative services like multi-currency IBAN accounts, fast money transfers, multiple methods of account top-ups (including cash), instant cashback, and ZEN payment cards – making flexibility and user-centric financial tools a core part of its value proposition. With this expansion, joins a growing list of fintechs and financial institutions choosing Episode Six to break away from the constraints of legacy issuing technology and deliver differentiated customer experiences at pace. See why fintechs are switching to Episode Six at About Episode Six Episode Six is a global provider of enterprise-grade card issuing and ledger infrastructure for financial technology companies, banks, and brands. Episode Six delivers the innovative capabilities needed to compete with disruptors and lead the market. Flexibility, adaptability, and resilience are built into the core of Episode Six's platform, ensuring clients maintain a market-leading position. Episode Six operates in over 45 countries, powering 70+ enterprise customers globally, with an expanding team located in the US, Canada, UK, Europe, Japan, Singapore, Hong Kong, Australia, and India. Investors include HSBC, Mastercard, SBI Investment Co Ltd, Anthos Capital, Avenir and Japan Airlines. For more information, visit LinkedIn. About Zen is a fast-growing European fintech company offering enterprise-grade e-money services for individuals and businesses. Licensed in the EEA, the UK, and Singapore, provides multi-currency accounts, money transfers, and ZEN Mastercard® payment cards with value-added benefits like instant cashback, extended warranties, and purchase protection. Its e-commerce payment gateway supports over 20 local methods, enabling instant settlements and reduced transaction costs. Operating in 31 markets with strategic partners including Mastercard, and Visa. is building a seamless global payment ecosystem that drives customer savings and business growth. For more information, visit or follow on LinkedIn. View source version on Contacts Marcus Paulmarcus@
Observer
24-05-2025
- Business
- Observer
What is an International Bank Account Number (IBAN)
Muscat: The CBO will implement the International Bank Account Number (IBAN) on domestic financial transactions from July 1, 2025, aimed at enhancing the efficiency of local payment transactions, minimizing operational errors, and expediting financial transfers between individuals and businesses. CBO implemented the IBAN system for international transfers on March 31, 2024. This initiative has significantly improved transaction accuracy, reduced errors, and accelerated processing times for both local and international bank transfers. Given the success of this implementation, CBO is taking the next step by discontinuing the acceptance of international transfers that do not include an IBAN. This measure ensures further alignment with international standards and best banking practices. In this context, CBO has issued directives to local banks to stop receiving cross-border transfers that do not include IBAN, as of July 1, 2025. Instead, the use of the IBAN Number will be mandatory for all incoming international transactions. What is an IBAN IBAN, or "International Bank Account Number," represents the international standard used for bank account numbering. This system supports the exchange and processing of transactions across borders by enabling the sharing of account identification information in a format that machines can read. The number starts with a two-digit country code, then two numbers, followed by several more alphanumeric characters based on the bank account number. BAN does not replace a bank's own account numbering, as it's only meant to provide additional information that helps in identifying overseas payments to ensure accuracy and reduce errors in this process. The IBAN for the Sultanate of Oman is fixed in length, 23 characters, to make it as long as per the requirements and as short as possible to ensure convenience to customers and Banks. Country Code: The first 2 characters of the IBAN are fixed as 'OM', which is the ISO 3166-1 two-letter Country Code that identifies Oman as the country where the bank that services the customer account is located. Check Digits: The third and fourth characters of the IBAN are numeric and represent the check digits (2 digits) which are generated by the bank that issues the IBAN. The IBAN shall be used by Banks and their customers for Electronic Payments, which includes a. All Cross-border incoming Electronic Payments to customer accounts of Banks in the Sultanate of Oman from customer accounts of banks/financial institutions in 'Countries that have adopted IBAN' as well as 'Countries that have not adopted IBAN'. Domestic Electronic Payments to and from customer accounts of Banks in the Sultanate of Oman. Cross-border outgoing Electronic Payments from customer accounts of Banks in Sultanate of Oman to customer accounts of banks/financial institutions in 'Countries that have adopted IBAN' where the use of IBAN is mandatory. Customers shall be allowed to use IBAN in making cross-border, outgoing Electronic Payments from their Bank accounts in the Sultanate of Oman to customer accounts of banks/financial institutions in other countries that have adopted IBAN, but the use of IBAN is not mandatory.
Daily Tribune
07-05-2025
- Business
- Daily Tribune
Strengthening diplomatic cooperation in labour affairs
The Chief Executive of the Labour Market Regulatory Authority (LMRA) and Chairman of the National Committee to Combat Trafficking in Persons, Mr Nabras Taleb, stressed the value of continued cooperation with embassies and consulates of labour-sending countries in supporting a well-ordered and lawful work environment in the Kingdom of Bahrain. He made the remarks during a meeting with diplomatic representatives held as part of the LMRA Majlis, timed with International Workers' Day. The discussions centred on the importance of strengthening coordination in labour affairs, ensuring that foreign workers are fully informed of the country's legal framework, and verifying that they are engaged in permitted activities under valid work permits. Measures Mr Taleb presented a number of recent measures adopted by the Authority, including the requirement for all employers to pay workers electronically through the Wage Protection System. This mechanism is designed to ensure that salaries are paid on schedule and to help reduce pay-related disagreements. He also confirmed that all expatriate workers will be issued an International Bank Account Number (IBAN) either on arrival at Bahrain International Airport or when renewing their work permit, should they not already have one.
CairoScene
04-04-2025
- Business
- CairoScene
Central Bank of Oman Mandates IBAN for Domestic Transactions
Banks in Oman have been directed to raise awareness on the benefits of using IBANs for safer and faster transactions. Apr 04, 2025 The Central Bank of Oman (CBO) has announced that the International Bank Account Number (IBAN) will become mandatory for all domestic transactions effective July 1, 2025. This initiative aims to streamline local payment systems, reduce operational errors, and accelerate fund transfers between individuals and businesses, thereby enhancing the overall customer experience. Following the successful implementation of IBAN for international transactions on March 31, 2024, which resulted in significant improvements in transaction accuracy and processing speed, CBO is discontinuing the acceptance of international transfers without an IBAN. In line with this development, CBO has directed all local banks to cease accepting cross-border transfers lacking an IBAN as of July 1, 2025. Banks are also instructed to launch awareness campaigns and provide clear guidance to customers on the use and benefits of IBAN to ensure a seamless transition. CBO urges all customers to obtain their IBANs from their respective banks and to use them in all financial transfers to ensure secure, error-free processing.
Arabian Business
04-04-2025
- Business
- Arabian Business
banking services
banking services The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2024 banking industry Transformation journey pays dividends as Dubai bank revenue soars to 29% to 191.4 million and assets grow to $5.7 billion banking services Completion of the Offering is expected to take place before the end of the first quarter of 2025 banking services Company says the new system has 'stabilised'; Customers to be offered 'Walaa Rewards' and reversal of charges banking services The bank has recently migrated certain functions to 'The Temenos Banking Cloud' platform to enhance the quality of services provided banking business 2024 is a breakthrough opportunity banking services With a significant expatriate population in Saudi Arabia, FRiENDi Pay aims to bring convenience, transparency, and peace of mind to its customers banking The bank said the improvement in its performance was driven by rising core revenues, controlled impairments and effective cost management banking services The tie-up will enable Qashio's customers to use biometric technology by the Spain-based company Bank of America Corp Other banks like JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. also raked in billions in new deposits Bank of London and the Middle East New currency accounts are linked to the Nomo debit card and Apple Pay, which can be used globally with no international card fees, the bank said banking business The Dubai-based bank has submitted its expression of interest as the Government of India and LIC prepare to sell 60 percent stake banking Goldman Sachs increases headcount in Dubai with senior banker positions banking business Under the partnership, DIB will provide brokerage and related services to its clients through Al Ramz Capital, a subsidiary of the Al Ramz Corporation banking business The move is part of the Dubai-based lender's efforts to expand its global operations following CEPA banking business The company reported the profit jump for the first nine months of 2022 Abu Dhabi The bank also registered a 53 percent increase in the net profit for the first nine months of this year to AED2.45 billion from AED1.6 billion in the corresponding period of 2021
