Network International and Magnati, two major players in the Middle East’s financial technology scene, have officially merged. The deal, which was finalized today under the ownership of a Brookfield-led consortium, creates a single entity that will operate under the Network International brand, aiming to be the dominant force in digital payments across the Middle East and Africa (MEA).
Think of it as a regional payments giant in the making. Before the merger, Network International already had a massive footprint, operating across more than 50 countries in the MEA region. Magnati, on the other hand, was a strong force in the UAE, known for its modern payment solutions for governments and businesses.
By combining their strengths, the new Network International is positioning itself as a one-stop shop for financial services. The company now offers a comprehensive suite of products that goes beyond simple payment processing. We’re talking about everything from digital payment acceptance and AI-powered data analytics to small business lending and advanced fraud prevention. This merger essentially creates a full-stack fintech platform with the scale to serve 56 markets.
Hadi Badri, the new Chairman of the Board, is framing this as the creation of a “UAE homegrown fintech champion.” The goal is clear: to build a regional powerhouse that can drive innovation and compete on a global scale.
Murat Cagri Suzer, the Group CEO, added that the merger will allow for “faster innovation” and “enhanced data and insights.” For customers and partners, this could mean access to more diverse products and a more seamless experience as the company leverages its combined technological capabilities.
The integration won’t happen overnight. The company has stated that the two businesses will be combined in phases, and for the time being, both the Network International and Magnati brands will continue to exist in the market. So, while the deal is done, it will be a gradual process to see how these two formerly separate entities come together to operate as a single, unified platform.
Source: https://tech-ish.com/
