UAE’s Al Ansari Financial Services and fintech firm Halan have partnered to empower the underbanked and unbanked populations in the country through innovative financial solutions.
This collaboration will introduce Salary Advance and Send Now, Pay Later (SNPL) services, providing Al Ansari’s customers with greater financial flexibility and convenience.
Salary Advance is a transformative solution that allows individuals to instantly access a portion of their earned wages before their payday, fostering greater financial flexibility and reducing reliance on high-interest credit options.
The partnership underscores Al Ansari and Halan’s shared commitment to enhancing financial inclusion while delivering cutting-edge solutions that prioritise customer empowerment.
Through the collaboration, Al Ansari and Halan will create seamless, secure, and accessible offerings tailored to meet the diverse needs of the UAE’s workforce.
“By pioneering Earned Wage Access services, we are providing a practical and ethical solution to support the financial well-being of our customers, especially those who have limited access to traditional banking services,” said Mohammad Bitar, Deputy Group CEO of Al Ansari Financial Services.
The SNPL service will offer customers the ability to send a larger amount of money instantly to family members and repay it in instalments over time, further enhancing their financial capabilities.
The partnership follows Halan’s recent launch in the UAE as part of its regional expansion into the GCC. Within just a few months of entering the market in April 2024, the company has already served over 50,000 users and aims to reach 250,000 customers by 2025.
By offering tailored solutions for the UAE’s underserved workforce, Halan provides instant, paperless access to financial services, empowering both individuals and businesses through innovative financial tools.
“Our fintech expertise, combined with Al Ansari’s legacy of trust and service excellence, ensures that this solution not only meets the needs of the underbanked but also sets a new benchmark for financial accessibility and inclusion in the region,” said Omar Ramadan, Managing Director of Halan GCC.
The introduction of Salary Advance and SNPL services is part of Al Ansari’s continuous efforts to adapt to evolving market demands and leverage technology to provide meaningful solutions.
