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Lean Technologies & StashAway team to enhance investment process in UAE

By Delisha Fernandes

September 20, 2023

  • Banks
  • Debit Cards
  • deposit amount
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StashAway and Lean Technologies, investment platform, digital infrastructure, banks, debit cards, deposit amount, FinTech news, investment, FinTech UAEStashAway, an investment platform, and Lean Technologies (Lean), an Open Banking platform in the Middle East, has collaborated to streamline the investment process in the UAE.

This partnership introduces the UAE’s first-ever open banking-powered solution that allows for recurring deposits, empowering people to stay committed to their investment goals regardless of market volatility.

“As an investor myself, I’ve experienced firsthand the frustrations of automating my investments through a bank. At StashAway, we believe that investing should be simple and stress-free – so we knew that we had to make a change,” said Joseph El Am, General Manager of StashAway MENA, “Collaborating with Lean Technologies to pioneer a brand-new feature for recurring deposits was the logical next step for us. We’re proud to be the first in the UAE to offer an innovative solution for dollar-cost averaging into the market, offering investors a hassle-free way to build wealth over the long term.”

Through the integration of Lean into the StashAway app, StashAway clients can effortlessly establish a recurring deposit in just two minutes. Clients can seamlessly link their preferred bank account, specify the recurring amount, and set a deposit cadence all without leaving the StashAway app.

“At Lean Technologies, we thrive on pushing the boundaries of financial innovation. Teaming up with StashAway has allowed us to break new grounds in investment accessibility and financial inclusion. The FastTransfer payment feature represents a novel application of Lean’s Payments API. It provides a one-of-a-kind user experience to Stashaway customers, simplifying a previously tedious process into just a few clicks. We invite investors across the UAE to take charge of their financial future with speed, security, and convenience powered by Lean Technologies and StashAway,” said Mehdi Tazi, Chief Operating Officer at Lean Technologies.

Using the FastTransfer payment method, clients will benefit from swifter and secure transactions. Deposits of up to 25,000 AED will be reflected on the StashAway app within a few hours,  while larger transfers may take slightly longer (up to 1.5 business days), depending on the respective banks’ transaction policies. Transactions via Lean are protected by bank-grade security measures, so clients are assured that their financial data will always be kept safe.

Clients will also have the flexibility to adjust the deposit amount and frequency, as well as approve or skip individual transactions, empowering them to continuously fine-tune their financial plans in alignment with their life goals.

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