First combined digital corporate and retail bank to launch from the UAE
Mita Srinivasan
Business Banking

First combined digital corporate and retail bank to launch from the UAE

Mohamed Alabbar to chair the first fully independent digital bank promising tools that will put customers in control of their financial lives

His Excellency Mohamed Alabbar has announced the imminent launch of Zand, the first digital bank in the world to provide both retail and corporate banking is set for imminent launch in the UAE, subject to final regulatory approvals. In addition to innovative banking services, Zand is set to be a digital economic accelerator, providing the foundations for a broader generation of digital services.

Through fully digital offerings, Zand promises to make banking quicker and simpler, and provide tools that put customers in control of “their financial lives”. It will also be unique in focusing on ecosystems and communities of businesses and individuals, enabling it to introduce unique products and services not traditionally available.

Zand’s CEO, Olivier Crespin, pointed out, “Backed by strong shareholders and working with the best bankers and technologists, we’ve built a bank that delivers on the promise of understanding and meeting customer needs. From our systems to our processes and our team, we're built and ready, and we're looking forward to welcoming the first customers soon”.

As the bank’s Chairman, Alabbar added, “The UAE combines progressive regulations with commercial, financial, and technology hubs. This provides the perfect environment for a world-leading digital bank that can launch in the UAE and scale beyond. As the first fully independent digital bank in the country, with a full UAE banking licence, Zand will provide innovative, effective financial solutions that help simplify businesses and lives, addressing the needs of both retail and corporate customers”.

Zand is currently offering potential users the opportunity to stay updated on its progress via a sign-up form on its website.