KARACHI: An emerging fintech operator in the Middle East and Pakistan, Abhi, announced on Monday it has partnered with UAE’s Al Ansari Financial Services to provide financial solutions to banked and unbanked communities in the UAE.
Abhi is a Pakistani fintech company that provides employers an opportunity to withdraw their earned salary any day through its Earned Wage Access (EWA) facility and other products. Founded in 2021, Abhi has been serving customers in Pakistan, UAE and Bangladesh through its credit-bridging products.
Al Ansari Financial Services is a UAE-based financial services ecosystem that enables the mobility of money locally and globally. For almost 60 years, the group says it has enabled tourists, residents and businesses to transfer and exchange money and conduct payments effectively.
“In a move set to reshape the financial landscape, Al Ansari Financial Services one of the leading integrated financial services groups in the UAE announces its strategic partnership with Abhi Middle East Limited, the region’s largest embedded finance platform backed by Hub71 and Abu Dhabi Investment Office (ADIO), to broaden the spectrum of financial solutions available to consumers, ensuring a seamless service experience across the board,” Abhi said in a statement.
The alliance will provide EWA and Send Now, Pay Later (SNPL) services to complement Al Ansari Financial Services’ existing portfolio from the second quarter of this year, Abhi said. The alliance will help address the varied needs of both unbanked and underbanked communities in the UAE, it added.
The statement said that the solutions would be gradually introduced across multiple platforms to ensure easy and convenient access for customers, allowing for a smooth integration and enhanced user experience of the financial services.
“Abhi, a pioneer in earned wage access and technology-driven financial solutions, will be providing a technology platform and operational framework that will enable Al Ansari Financial Services’ customers to access their earned wages prior to the scheduled payroll date, in addition to allowing the unbanked and underbanked customers to remit funds internationally instantly while deferring payment,” Abhi said.
It said Al Ansari will identify eligible customers for both services.
“This partnership aligns with our ongoing mission to enhance financial accessibility and provide flexible solutions that cater to diverse financial needs,” Mohammad Bitar, group deputy CEO of Al Ansari Financial Services, said in a statement.
Omair Ansari, co-founder and CEO of Abhi Middle East Limited, said the partnership is a “significant step” in providing unbanked individuals with flexible financial solutions.
“Through the introduction of Earned Wage Access and Send Now, Pay Later in the UAE, we aim to address real-world financial challenges, offering tools that empower individuals to take control of their finances,” Ansari said.
