NOW Money Signs Two New Partnerships to Improve Financial Inclusion in Dubai

NOW Cash, a fintech offering banking and payroll options to the underbanked migrant inhabitants within the Center East, is on a mission to supply accessible and inclusive finance. Nonetheless, attaining this alone is an extremely troublesome process. As such, the fintech has introduced new partnerships with Industrial Financial institution Worldwide (CBI) and Community Worldwide (Community). 

Nicolas Andine, CEO at NOW Cash commented on the partnerships: “These agreements will additional champion monetary inclusion, advance banking safety and convey better innovation to the digital banking ecosystem for companies, and most significantly for low-income staff, throughout the UAE in an more and more cashless society.”

“Our first precedence has all the time been our clients and customers and we need to be sure that we provide them a best-in-class digital payroll and cell banking expertise mixed with native hands-on customer support. We’ll proceed to ship the easiest expertise to our clients, and we look ahead to the following chapter with our new banking companions.”

NOW Cash’s strategy to cell banking has already positively impacted the lives of many within the Center East, with 10,970,647 transactions processed by means of the platform and AED 2,807,504,300 in salaries paid by over 511 accountable employers.

Becoming a member of forces for a stronger providing

Each collaborations will influence NOW Cash and its mission in several methods. Industrial Financial institution Worldwide will allow NOW Cash to ship environment friendly, safe and complete banking options to its customers by means of its banking infrastructure. In the meantime, Community will allow NOW Cash to supply sooner, extra dependable and safe transactions by means of its funds options.

CBI and Community will each have a big effect on NOW Cash and its customers as they are going to obtain extra seamless and built-in monetary providers that can assist develop its buyer base in Dubai. Moreover, advantages will embody bolstering NOW Cash’s operational effectivity and scaling its providing to satisfy the growing regional demand for extra subtle digital monetary providers within the area.

The strategic alliances with CBI and Community align with NOW Cash’s imaginative and prescient to empower the unbanked inhabitants by offering them with the instruments and assets wanted for monetary independence.

Giovanni Everduin, chief technique and innovation officer at CBI commented: “A core a part of our technique is to concentrate on partnership-driven innovation to serve the imaginative and prescient of the UAE’s management to grow to be a number one monetary providers hub.

“Working with companions like NOW Cash and Community Worldwide displays our ambition to extend the availability of subtle digital monetary providers within the nation and to additional drive monetary inclusion as a part of our standing dedication to sustainable finance.”

Help from new companions

Navneet Dave, managing director and co-head of processing – Center East at Community Worldwide commented: “We’re thrilled to be NOW Cash’s chosen companion to expedite the growth of payroll playing cards within the UAE. We’re dedicated to supporting NOW Cash’s development technique of selling monetary inclusion by offering progressive cost options. With Community’s distinctive technological capabilities, serving over 200 monetary establishments, we’ll allow NOW Cash to bolster its presence within the UAE as one of many main payroll providers suppliers.”

Somu Roy, managing director UAE, group processing at Community Worldwide stated: “We’re delighted to help NOW Cash in rising its payroll operations within the area whereas financially empowering folks and companies. Our collaboration builds on Community’s 30 years of expertise and experience in creating world-class digital funds infrastructure and providers for shoppers.”