Rivals see ‘fierce’ competition as UAE digital bank Zand prepares for launch

[troubled soul]

https://www.cnbc.com/2021/06/24/fierce-competition-as-uae-digital-bank-zand-prepares-for-launch.html

 

[Martin Everson]

They mention liv.me. Wonder if anyone has used that?

 

[Crest]

They mention liv.me. Wonder if anyone has used that?

I know a few people that have. Its a personal account and not business banking. Anyone with a visa can get a personal account in 24 hours anyway, but Ive heard its a decent app.

I know there is another company xpense.co that is going to open towards the end of the year that is aiming to hit the SME market with a similar business set up to Tandem.

 

[Fred]

They mention liv.me. Wonder if anyone has used that?

Yes they open you instant an AED IBAN and using the debot card delivery by courirer to you to verify your Emirates ID.

It's the only Account that really works like an EMI without visiting or meeting a banker.

It's personal account powered by ENBD for AED only and as soon as you want to wire international you need to upload passport copy as well.

Due to the laws ion place all this NEO is marketing at least for business account and other currency accounts like EUR USD etc. it's still required by law to meet a banker in person.

 

[MiddleEuroAsia]

https://www.cnbc.com/2021/06/24/fierce-competition-as-uae-digital-bank-zand-prepares-for-launch.html

The guy behind it has an impressive resume. Seems like he understands what he breaches, unlike the software nerds who have no clue about finance and make bold statements and as soon as they launch, they get shutdown due to regulatory concerns.

I'm glad that crespin has Emaar behemoth alabbar as a chairman, this will somewhat guarantee that we won't have another Wise situatation in the future, and although their business model differ, but we saw how the UAE will kill any project that might disturb their banking sector, whether it's remittance business, FX business or any other banking-related business really. But it's good thing that Olivier has the backing of a man like alabbar.

it's time to clean the s**t that's been going on with local banks in the UAE, the only decent local bank is ADCB and so was NBD (in the past) others are jokes, specially mashreq, it's special kind of trash.

But Overall, that's great news!