Dubai Hold­ing plans dig­i­tal bank in UAE

Banking Frontiers - - Banking In The Gulf -

Dubai Hold­ing, a global in­vest­ment hold­ing com­pany, said it is propos­ing to in­vest up to Dh1 bil­lion over the next 5 years to launch a next gen­er­a­tion dig­i­tal bank for the UAE. The bank is ex­pected to be­come a plat­form to fa­cil­i­tate dig­i­tal trans­ac­tions and ac­cel­er­ate the drive to­wards a cash­less so­ci­ety and fa­cil­i­tate the ex­change of data and in­sights be­tween in­di­vid­u­als and busi­nesses. It will also pro­vide an on-de­mand, fully cus­tom­iz­a­ble and en­gag­ing ex­pe­ri­ence to both in­di­vid­u­als and busi­nesses and be­spoke bank­ing ser­vices that ex­tend be­yond the tra­di­tional bank of­fer­ings. The pro­posed bank will also be among the first pure play dig­i­tal player in the UAE to serve the small and medi­um­size en­ter­prise (SME) seg­ment.

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