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Advanced technology solutions company, Aurionpro Solutions Ltd. on Monday said that its Singapore subsidiary, Aurionpro Solutions Pte Ltd. has entered into a strategic partnership with Inclusive Financial Solutions (IFS) to set up a new joint venture entity in Saudi Arabia.

The new entity, Aurionpro MENA, will provide cutting-edge solutions to banks and fintech companies in Saudi Arabia.

The joint venture based in Riyadh will accelerate the efforts of IFS, a Saudi Arabia-based fintech firm, to further the development of the financial sector in the Kingdom, which is in line with its vision 2030.

Aurionpro with its cutting-edge solutions backed by strong capabilities will work with IFS to jointly serve the Saudi Arabian market.

Aurionpro CMD Paresh Zaveri believes that this strategically important partnership will help the company significantly grow its presence in the MENA region.

MENA refers to the region covering the countries situated in and around the Middle East and North Africa.

Aurionpro will help IFS introduce and localize advanced financial technologies in the Saudi market.

IFS is one of the leading companies in Saudi Arabia to offer payment aggregation and e-invoicing. It has obtained a digital payments license from the Saudi Central Bank (SAMA).

Headquartered in Mumbai, Aurionpro Solutions Ltd is an advanced technology solutions firm that caters to the needs of the banking, mobility, payments and government sectors.

Shares of Aurionpro Solutions ended 0.5 percent lower at Rs 342.95.

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