Noted UAE-based Indian businessman and philanthropist, BR Shetty has announced the creation of “Finablr”, a new holding company which will consolidate his global portfolio of financial services brands under one single umbrella.

Incorporated in the UK, Finablr will provide strategic direction and oversight for the category-leading brands across its network.

As a diversified network, Finablr will combine the cumulative industry expertise of its network brands including UAE Exchange, Travelex and Xpress Money to deliver innovative-technology-driven and market-leading experiences.

Finablr also seeks to drive financial enablement and empowerment by accelerating customer-focussed technology innovation through R&D efforts, industry ecosystem engagements, investments and potential acquisitions. As a platform of complementary capabilities, the Finablr network will facilitate seamless and connected experiences for individuals and enterprises.

In its efforts to embrace new technologies that transform the way customers and businesses engage, Finablr is setting up Innovation Hubs ( i-Hubs ) across its global network. i-hubs will identify disruptive trends in the industry and implement innovations that deliver enhanced business benefits to its network of brands. Through its investment arm, Finablr will seek to acquire capabilities that complement its portfolio through inorganic pursuits. The Finablr investment arm will continue the inorganic pursuits on behalf of its network brands, including strategic investments and acquisitions plans (of $250-300 million) announced by UAE Exchange.

Finablr has also announced the intent to re-brand the non-UAE operations of UAE Exchange as Unimoni. Short for ‘Universal Money’, Unimoni will offer a broad spectrum of financial services and will build on the brand equity and legacy of UAE Exchange, a press release said.

comment COMMENT NOW