• Deem will empower customers to manage their finances whenever and wherever they are, based on conscientious lending
  • The institution has assets of over AED 1 billion
  • Deem’s offering is powered by a user-friendly digital platform, geared towards the customer experience

Dubai: Deem, a digitally-led financial services provider, is a new name in the financial sector in the United Arab Emirates. The company will utilise a digital platform that enables its customers to access a wide range of financial solutions that are affordable, highly competitive and geared towards supporting their needs during every milestone of their lives.

Notably, the financial services provider will have retail stores different from traditional branches, where customers can engage with Deem representatives to understand the company’s product offerings in a unique, open-space environment.

The new brand was created following the strategic re-purposing of an asset owned by Mubadala Investment Company, Fullerton Financial Holdings, Waha Capital and A.A.Al Moosa Enterprises LLC. The company has loans and advances of over AED 1 Billion, in addition to deposits.

Chris de Bruin, an experienced banking professional with a strong track record in the industry, will oversee the company in his role as Chief Executive Officer and will work alongside a strong management team.

Specifically, Deem will provide financial support to individuals through a portfolio of products and services including loans and credit cards, as well as corporate deposits. The company also plans to offer products related to protection and savings aimed at helping its customers safeguard and grow their funds. Other innovations will be announced, in the form of future products aimed at powering consumers’ upward mobility and at supporting their financial journey.

Commenting on the announcement, Chris de Bruin CEO, Deem, said: “We are delighted to launch Deem as the new name in the UAE’s financial services sector, backed by strong shareholders. As a conscientious lender, we believe that there is a tremendous opportunity to offer value-added financial solutions to the market, which are not only more affordable, but easily accessible. In Arabic, ‘Deem’ means a cloud bearing light rain – which is a symbol of good fortune and prosperity in a desert. The brand is inspired by our ambitions to empower our customers with financial services that help them realise their aspirations by providing real value while delivering a more prosperous future.”

Significantly, this offering comes at a time when consumer behaviour continues to change as a result of new technology and regulation. Today, customers want a seamless experience that allows them to transact and make payments easily and quickly – with less paper and faster turnaround times. Leveraging digitisation is therefore a crucial part of Deem’s strategy, so that the company can provide its customers with the ability to manage their finances easily and conveniently.

Applying for a Deem service is an easy process and can be completed either online or by visiting a Deem store. Customers can also complete their application online, and have all formalities completed in a scheduled appointment with a Deem representative, who will visit their premises to collect their signatures and documentation.

Once the application for a credit product has been completed, customers may receive pre-approval within seconds. Deem staff will also provide customers with high quality services, as part of the company’s focus on being a trusted, responsible, transparent and accessible financial provider.

For more information about Deem, please visit: deem.io

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For further information, please contact:

Daniel Chinoy                                                   
Weber Shandwick
Mobile: +971 50 2553402
Email: Dchinoy@webershandwick.com   

About Deem:

Deem is a digitally-led financial services provider headquartered in Abu Dhabi, United Arab Emirates. The financial service provider is a strategic partnership between Mubadala Investment Company, Fullerton Financial Holdings, Waha Capital and A.A.Al Moosa Enterprises LLC. The company provides a wide range of financing solutions including loans, debit cards, credit cards, remittances, transfers and payments to individuals as well as corporate deposits. Deem’s user-friendly digital platform stands out in an ultra-competitive marketplace because it delivers information to its customers responsibly, transparently and in an easy-to-understand language.

© Press Release 2019

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