Following this announcement, Abhi is set to provide a technology platform and operational framework that will enable AI Ansari Financial Services’ customers to access their earned wages prior to the scheduled payroll date. This will also additionally allow the underbanked and unbanked clients to remit funds internationally instantly, while also deferring payments.
Al Ansari Financial Services will identify and onboard eligible users for both solutions, aiming to maximise their reach and impact in the community. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to officials of the company, this strategic alliance will provide Earned Wage Access (EWA) and Send Now, Pay Later (SNPL) tools to complement Al Ansari Financial Services’ existing portfolio, which is slated for rollout in Q2 2025 (as they are pending for regulatory approvals). The products were developed in order to address the varied needs of both unbanked and underbanked communities in the UAE. At the same time, the solution will be gradually introduced across multiple platforms to ensure easy and convenient access for customers, allowing for a secure and efficient integration and enhanced user experience of these financial services and tools.
In addition, this partnership builds on an earlier collaboration that was announced by Al Ansari Financial Services with a fintech platform, in order to provide similar products. With its extensive customer base, Al Ansari Financial Services has also partnered with several platforms and businesses, aiming to ensure the efficiency and scalability of its secure financial offerings. Furthermore, these partnerships underscore the Group’s commitment to leveraging its market presence in order to deliver optimised financial solutions that are tailored to meet the diverse needs of its customers, provide financial accessibility, and expand its service ecosystem throughout the industry.
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