Signzy, an Indian artificial intelligence (AI) startup that provides a digital onboarding solution for banks and other financial institutions, has entered the UAE market through a strategic partnership with Seed Group, a company stands to back global tech-driven enterprises looking to spread their wings in UAE.
The Bangalore-headquartered AI startup will bring a digital revolution in banking and financial services in UAE and Middle East, as it targets a 3X growth in the region by the fiscal year 2022. The decision comes at a time when the emirates are expediting digital transformation across government services and industries, as envisioned in the UAE Digital Government Strategy 2025.
In UAE, Signzy aims to help financial institutions in automating their back-office operations, create security and data protection infrastructure, and accelerating digitization for faster customer onboarding and real-time verification and fraud detection.
“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 fintech across UAE and 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. We are pleased to partner with Seed Group to fulfill UAE’s vision of digital transformation.”
With more than 240 fintech application programming interface (API) connectors preconfigured on the platform, which allow businesses to spin up instantaneously, the global AI platform will also help banks and financial institutions to fulfill the evolving customer expectations of rapid, omnipresent, yet customized user experience.
Mr. Hisham Al Gurg, CEO of Seed Group, 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.”
Seed Group will help Signzy develop its operations in the UAE and create further outreach opportunities in the Middle East, Africa, and Asia. Signzy will be able to contact the targeted audiences, gain access to top decision-makers in the public and commercial sectors, and effectively market their products in the region as a result of the partnership.
Signzy currently works with over 100 financial institutions, including India’s four major banks and the top three banks in the United States, as well as a range of other businesses.