Bengaluru-based banking workflow automation startup Signzy has entered the UAE through a deal with Seed Group, the Private Office of the Royal Family of Dubai’s Sheikh Saeed bin Ahmed Al Maktoum.
The partnership aims to give a further boost to digital transformation of businesses across the UAE.
With the support of Seed Group, Signzy said it aims to triple its growth in the region by the end of fiscal year 2022.
The move comes at a time when the UAE is expediting tech transformation across government services and industries, as envisioned in the UAE Digital Government Strategy 2025.
Signzy is currently working with over 100 financial institutions, including the four largest banks in India and the top three banks in the United States.
It seeks to help financial institutions automate their back-office operations, create security and data protection infrastructure, and speed up digitisation for faster customer onboarding and real-time verification and fraud detection.
In the UAE, Signzy said it aims to help financial institutions automate their back-office operations, create security and data protection infrastructure and speed up digitisation for faster customer onboarding and real-time verification and fraud detection.
The global AI platform will also help banks and financial institutions meet transforming customer expectations, it said in a statement.
Under the partnership, Seed Group will help Signzy expand its operations in the Emirates and the wider Middle East, reach the right audience, access top decision-makers in government as well as private sectors, and market their products effectively in the region.
Hisham Al Gurg, CEO of Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said, “Businesses are going through a phenomenal digital transformation and are on the lookout to adopt affordable smart technologies. Having Signzy as our strategic partner will give the country’s digitisation agenda the much-needed push. Signzy has been successfully providing cutting-edge digital solutions to various institutions."
Signzy Co-founder and CEO, Ankit Ratan, said, “Seed Group brings a wealth of experience and regional access to the MENA region which will power us to rapidly grow market share. Businesses especially banks, financial institutions, and fintechs across UAE and Middle East are doubling efforts to digitise and automate services to build a robust digital financial infrastructure that improves access, transparency, and speed of delivery.”