Velexa and UnaFinancial have recently declared a strategic alliance that beckons a new era in digital investing within the UAE.
Velexa, renowned as a disruptive force within the WealthTech sector, propels innovative investment solutions and services, while UnaFinancial, an established FinTech group operating since 2015, brings a wealth of experience in delivering digital financial services across the APAC region and Europe.
At the heart of this collaboration is a shared vision: harnessing Velexa’s esteemed capabilities in investment technology alongside UnaFinancial’s formidable experience in financial services to architect a global innovative financial platform within the UAE. This platform seeks to facilitate seamless digital investing experiences to a diverse clientele, connecting them with myriad investment opportunities at the touch of a button.
UnaFinancial, an international FinTech group, has a seasoned history, notably providing digital financial solutions in the Middle East, Asia, and Europe. With a focus on utilising AI, machine learning, and data-driven technologies, it enhances risk management, customer comfort, and speed, contributing to an impressive revenue of $139.1m in 2022 and a net profit of $13.1m as of the close of that year.
In contrast, Velexa, with its headquarters in London and a presence in Southeast Asia, Europe, and the UAE, has earned its reputation as a WealthTech innovator. Listed amongst the 100 most innovative WealthTech companies by FinTech Global in 2022 and 2023, it provides a front-to-back investing platform, extending from brandable front-end solutions to market connectivity and trade execution, fundamentally democratising the wealth management industry.
As the alliance blossoms, Velexa’s Investing Platform will integrate as the backbone system of record, fortifying UnaFinancial’s digital service. Tailored to UnaFinancial’s nuanced requirements, this technological solution will provide key functionalities, including API-based connections to exchange venues, external brokers, and other financial service providers, while ensuring automated trade execution.
The initial phase of the platform’s rollout will be enriched with investment options and tools covering US Equities & ETFs and FX trading, available to both novice and seasoned investors. Moreover, Velexa will ensure a smooth integration with UnaFinancial’s front-end application through a sophisticated API integration framework, placing the user at the core of every interaction and aspiring to deliver an intuitive, secure, and transparent investing experience.
UnaFinancial CEO Natalia Ishchenko elucidated, “The UAE is ranked first among FinTech centres worldwide in terms of innovation, market size, and development potential. It has a favourable regulatory environment for startups and a high level of digitalization with smartphone and Internet penetration of 96% and 99%, respectively.
“We are proud to be part of UAE digital development and hope to contribute to the local FinTech landscape. The technological solution offered by Velexa perfectly aligns with our vision of the future product. Combined with the impeccable reputation and commitment to delivering high-quality service, Velexa is an optimal FinTech partner in our pursuits.”
In a similar spirit, Velexa CEO Tamara Kostova added, “UnaFinancial has a bold vision, and we are excited about this partnership. We recognize the immense potential for growth and innovation in the UAE’s dynamic financial market.
“Together, we will reshape the future of the financial services industry in UAE, making it more accessible and user-friendly for people from all walks of life. Powered by Velexa, UnaFinancial’s clients will be able to seamlessly join the world of investing across different financial assets around the globe.”
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