UAE Exchange offers a wide range of payment solutions for the convenience of its esteemed customers apart from the core business of remittance and foreign exchange.
Headquartered in Abu Dhabi, UAE Exchange has been setting new standards in the global remittance industry with diversified product and service offerings supported by the deployment of latest technologies, resulting in excellent customer service and unmatched market presence. The service offerings include Money2anywhere. com, the online money transfer portal; FLASHremit, the facility for real time account credit; gocash, the six-currency prepaid travel card; Smart Pay, the WPS-compliant leading payroll solution and XPay, the facility for bill payment through mobile phone. Along with these proprietary offerings, UAE Exchange also brings regular bank transfers, instant money transfers, bill payments etc., for which it has earned the acclaim of being a true financial supermarket.
INNOVATION & CREATIVITY
During early 1990s, customers used to send cheques by registered mail to their beneficiaries which used to take a lot of time. Under the able leadership of Sudhir Shetty, the company developed its own inhouse IT team to find a solution for eliminating the vast delay in remittances. In 1996, the company started printing cheques in the destination countries instead of printing the cheques in the remitting countries. This exercise reduced the delay from three weeks to just three days, thereby, attracting more customers to the branch.
Other innovative channels which stand testimony to the brand’s success include FLASHremit (instant direct money transfer to the beneficiary’s bank account), Xpress Money (instant money transfer as cash payout to any location), Money2anywhere. com (online money transfer portal), Smart Pay (WPS compliant leading payroll solution), gocash (MasterCard powered multi-currency prepaid international travel card). Social media is another platform through which the brand stays instantly connected with its customers. In just three years span, it has approached close to one million facebook likes.
The brand’s journey is fuelled by the core values of Integrity, Commitment, Empowerment and Care.
It has implemented new global compliance policies and processes in the organisation to ensure that every transaction of each customer is securely conducted. The recent tie-up with technology giants like Nice Actimize, SunGard and SAP are a testimony to the brand’s technological prowess.
The state-of-the-art operating systems and experienced manpower has enabled the company to emerge much stronger in a competitive and dynamic business environment. The resilience is visible in their financial numbers. In 2014, the company had handled 6 per cent of the global remittances while the remittances and foreign exchange businesses in the same year were to the tune of US$24 billions and US$25 billions respectively.
The brand has been playing a pivotal role in the economy. It has initiated thousands of expatriates into the banking network for the first time, thereby, playing an important role in the financial inclusion of each country.