UnaFinancial, a Singapore-based fintech group, has partnered with Velexa, a United Kingdom-based wealthtech disruptor to launch a digital investing platform in the United Arab Emirates (UAE).

The duo said in a statement on Tuesday that the partnership will leverage Velexa’s expertise in investment technology and UnaFinancial’s solid experience in the financial services industry to create user-friendly and accessible investment opportunities

UnaFinancial has been operating since 2015, providing digital financial services in the Asia Pacific (APAC) region and Europe.

In partnership with Velexa, the group aims to build a global financial platform in the UAE, which will offer seamless digital investing experience to various customer segments.

According to the statement, Velexa’s investing platform will become the backbone system of record underpinning UnaFinancial’s digital service.

The technological solution is customized to meet specific requirements of UnaFinancial.

Key functionalities include API based connection to exchange venues, external brokers, and financial service providers, as well as automated trade execution.

The platform will enable UnaFinancial’s clients to acquire and trade multiple asset classes like equities, forex, bonds, commodities and derivatives.

“The UAE is ranked first among fintech centers worldwide in terms of innovation, market size, and development potential,” said Natalia Ishchenko, Chief Executive Officer of UnaFinancial.

According to her, the firm has a favorable regulatory environment for startups and a high level of digitalization with the smartphone and Internet penetration of 96 percent and 99 percent, respectively.

“We are proud to be part of UAE digital development and hope to contribute to the local fintech landscape,” she said.

She also said the technological solution offered by Velexa perfectly aligns with the firm’s 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,” she added.

According to the statement, the initial phase of the investing platform rollout will focus on enabling investment options and tools covering United States equities and exchange-traded-funds (ETFs) and foreign exchange (FX) trading to both novice and experienced investors.

Additionally, Velexa will seamlessly integrate with the front-end application of UnaFinancial through a state-of-the-art API integration framework.

UnaFinancial and Velexa also said that they will place the user at the center of every interaction by aiming to deliver intuitive, secure, and transparent investing experience.

Thus, from the beginning of their collaboration, the two companies have worked tirelessly to define unique user journeys supported by a framework of streamlined business processes.

They opined that this partnership marks a significant step forward in the world of wealthtech and is poised to reshape the financial services landscape providing retail investors with a superior, feature-rich platform for accessing financial markets across the world.

“UnaFinancial has a bold vision, and we are excited about this partnership,” said Tamara Kostova, Chief Executive Officer of Velexa.

She said the firm recognized 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,” she added.

UnaFinancial is a group of companies developing easy-to-use digital financial solutions in the Middle East, Asia and Europe.

The firm’s revenue for 2022 amounted to $139.1 million, while its net profit reached $13.1 million.

Velexa is a wealthtech company focusing on democratising the wealth management industry.

The firm’s B2B2X investing technology platform empowers its client institutions to capitalize on the demand for modern and ubiquitous investing solutions by new generation investors.

Headquartered in London, the firm has a local presence in Southeast Asia, Europe and UAE.

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