Signzy, an Indian artificial intelligence start-up specialising in banking workflow automation, has partnered with Dubai-based investment company Seed Group to enter the UAE market and expand its operations in the wider Middle East.
The agreement intends to accelerate the “digital transformation of businesses across the UAE” and bring innovative AI technologies in the region, the two companies said.
“The UAE is taking giant strides to meet the objectives of the UAE Digital Government Strategy 2025 and double the size of the digital economy in the next 10 years. Businesses are going through a phenomenal digital transformation and are on the lookout to adopt affordable smart technologies,” Hisham Al Gurg, chief executive of Seed Group, said.
“Having Signzy as our strategic partner will give the country’s digitization agenda the much-needed push … We see a huge potential for their services in the UAE and the Middle East.”
The Middle East is expected to accrue 2 per cent of the total global benefits of AI in 2030 that will be equivalent to $320 billion, according to PricewaterhouseCoopers, one of the Big Four accounting firms.
The annual growth in the contribution of AI is expected to range between 20 per cent and 34 per cent across the region, with the fastest growth in the UAE, followed by Saudi Arabia – the Arab world’s biggest economy.
Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, acts as a springboard for global start-ups that are willing to expand into Dubai and the wider Middle East. It has invested in diverse sectors such as technology, cyber security, health care, FinTech, tourism, and hospitality.
“Businesses, especially banks, financial institutions and FinTechs across the UAE and the Middle East are doubling efforts to digitize and automate services to build a robust digital financial infrastructure that improves access, transparency and speed of delivery,” Ankit Ratan, co-founder, and chief executive of Signzy, said.
The Middle East is expected to accrue 2 per cent of the total global benefits of AI in 2030 that will be equivalent to $320 billion, according to PricewaterhouseCoopers, one of the Big Four accounting firms.
The annual growth in the contribution of AI is expected to range between 20 per cent and 34 per cent across the region, with the fastest growth in the UAE, followed by Saudi Arabia – the Arab world’s biggest economy.
Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, acts as a springboard for global start-ups that are willing to expand into Dubai and the wider Middle East. It has invested in diverse sectors such as technology, cyber security, health care, FinTech, tourism, and hospitality.
“Businesses, especially banks, financial institutions and FinTechs across the UAE and the Middle East are doubling efforts to digitize and automate services to build a robust digital financial infrastructure that improves access, transparency and speed of delivery,” Ankit Ratan, co-founder, and chief executive of Signzy, said.
About Signzy
Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs that can be easily added to any workflow with simple widgets.
Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.
Visit www.signzy.com for more information about us.
You can reach out to our team at reachout@signzy.com
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