MAHBOOB BIN MOHAMMED AL-ABD AL-RAHMAN

Saudi Arabia 2022 | TELECOMS & IT | VIP INTERVIEW

TBY talks to Mahboob Al-Abdulrahman, CEO of ITS, about competition, the impact of the pandemic, and priorities for the near future.

What is your history, and how do you distinguish yourself in a highly competitive market?

ITS was established in Kuwait in 1981 and in Saudi in 1991. In the early 1990s, we were certified by SAMA to provide payment solutions. We focus on Islamic banking and micro lending and also do digital transformation solutions. We transformed the company three years ago to align with Vision 2030. We selected two programs, the financial sector program, which includes fintech and financial solutions, and the digital transformation program. We are focusing on digital transformation in the financial sector. In Saudi Arabia, we cover 44 cities, and we are scattered everywhere, which is an advantage for us. Our main products are, POS, Payment and Ethix, a complete solution for microlending, microfinancing, or digital branches for banks. A bank can choose the complete suite or select certain parts to be integrated with their core banking solution.

What has been the impact of the pandemic for the company?

Being a service company, we are used to connecting with our team remotely and using digital communication, so working from home was not difficult for us. Our field engineers are scattered across the country. We are in the financial industry, and demand for our solutions boomed, because the country was promoting a cashless society, and the pandemic accelerated that movement. The demand to provide digital payments in points of sale was extremely high.

What is your relationship with public institutions and private companies across KSA like?

We believe in partnerships and win-win situations. We like to grow with others, so we can take advantage of each other's markets. We have strategic relationships, and we also have relationships with the customers, suppliers, vendors. We build our relationships with regional suppliers and customers because we are extremely selective in order to have a positive impact on other businesses. The market is big enough to have the luxury to select partners. We are building a relationship with a Saudi telecom company for a payment solution. It has a strong customer base, it is number one in connectivity in the region, and it has a strong branding and marketing. Authorized by SAMSA for POS since 1994, so now we are a reseller for Saudi Payments.

What was your experience with the pandemic like?

We acquired the company one year before March 2019 the pandemic hit. We committed to delivering our service to our customers and doubled the size of our team and our office. We generated new business and leads during the pandemic and did not cut costs or salaries. After the pandemic, we now have to accelerate and see more success stories.

What are your goals and priorities for the next six months?

We want to respond to the market demand as soon as possible, because demand has been booming since the reopening of the country after the pandemic. We need to be ready for it from a logistics perspective.