back Back

Zand gets Central Bank licence and onboards its first customers

By Leandra Monteiro

July 06, 2022

  • Banking Licence
  • Central Bank of the UAE
  • Digital Transformation
Share

ZandZand, the first digital bank to provide both retail and corporate services, announced that it had been granted a banking licence from the Central Bank of the UAE to become Zand Bank PJSC, a fully licenced bank.

By successfully securing a UAE banking licence, Zand is now authorised and regulated to operate as a fully independent commercial bank.

Zand’s Chairman, HE Mohamed Alabbar said, “We’re thrilled that Zand has reached another milestone and is now a fully licenced bank. Today’s announcement represents yet another excellent example of the UAE’s pioneering vision of having progressive regulations that drive FinTech innovation.”

“With a UAE banking licence, we look forward to commencing our innovative banking services and contributing to the UAE’s legacy of innovation as well as economic growth.”

Led by a team of expert bankers and technologists and backed by a strong group of shareholders, Zand is activating its strategic partnerships with regional and international companies to provide its corporate customers with a banking experience underpinned by security, transparency, and convenience, while powering up all systems and connections for its personal banking launch phase.

 Zand’s Co-founder and CEO, Olivier Crespin added, “We got our banking licence on June 30, and we celebrated by welcoming our first corporate customers.”

“Zand’s corporate offerings will be made available to our customers incrementally. We look forward to revealing our full innovative banking services and expanding them to key sectors of the UAE economy.”

Zand corporate services include a range of products designed to enhance the digital experience of corporate banking. From seamless onboarding and fast account opening to an automated loan approval process, businesses have ultimate control over their banking relationship.

Previous Article

July 06, 2022

American Express appoints Hannah Lewis as the UK Country Manager

Read More
Next Article

July 06, 2022

eWallet rebrands as e& money, a financial super app set to transform the FinTech space

Read More








IBSi Daily News Analysis

cybersecurity

April 18, 2024

Banking Licence

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 19, 2024

Decentro elevates its DigiLocker Stack to secure KYC processes in India

Read More

April 19, 2024

Keytom launches Digital Asset-Focused Neobank

Read More

April 18, 2024

RCBC & Digital Wallet Corporation to develop digital banking in Philippines

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023