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BANKING AND FINANCIAL SECTOR IS CHANGING AND IT’S EASY TO SEE WHY
Digitization has changed every sector, and the banking industry is no exception, leading several banks to reduce their physical footprint in an effort to bring more customer centric digital platforms to the forefront of their retail offering. According to the 'United Arab Emirates Monetary, Banking and Financial Markets Developments Report' of the Central Bank of UAE for the first quarter of 2021, the number of locally incorporated banks remained constant at 21 banks at the end of Q1-21. The branches of these locally incorporated banks decreased to 534 branches at the end of March 2021 from 640 at the close of first quarter 2020.
This digitization has eventually led banks, insurance companies & brokers to create and adopt online, digital solutions leading to a boost in partnerships with FinTech companies. Given the current paradigm, GoFinance is in a perfect shape to not only serve banks but most importantly serve the growing number of customers who opt to access all financial and banking products digitally with a few clicks. While the business is ample for banks & insurance companies today, most of the business sourced is still physical, time consuming with lengthy paperwork sourced through in house sales teams and alternate channels like brokers & outsource companies. We at Go finance understand customer requirements & believe that Post Covid-19, customers prefer instant digital solutions where they can compare, apply, and get their product requirements full-filled instantly, as opposed to a traditional sales officer visiting them in their personal space and time. GoFinance will provide customers end-to-end solutions to search, compare, choose, apply, and receive digital fulfilment of financial products. Customers will be able to receive real time - simple, secure, fast, digitized services , where as banks will be able to receive customers with fully completed digital KYC and authentication 24X7. |
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GoFinance (member of GoTech Limited an ADGM regulated company) is a first of its kind Banking, Insurance and Valuation marketplace that provides neutral advisory anda digitized end to end customer journey for all Banking and Insurance products and services.
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