UAE fintech startup Sarwa unveils next gen Sarwa X, announces partnership with Saxo Bank

UAE fintech startup Sarwa unveils next gen Sarwa X, announces partnership with Saxo Bank

Published: 17-11-2020 13:09:00 | By: Pie Kamau | hits: 4507 | Tags:

Sarwa, online investment advisory platform for young professionals has unveiled its next-generation Sarwa X, a new product powered by a strategic partnership with Saxo Bank, a Fintech and Regtech specialist focused on multi-asset trading and investment. 

The new partnership will support Sarwa's rapid growth across the MENA region and provide flexibility and agility to tailor new products and services more effectively, adapting to client and market needs.

The launch of the new generation Sarwa X, an upgrade on the Sarwa Classic, offers new product improvements for easier funding and investment. Sarwa X supports local transfers in AED and USD. UAE clients can have free local transfers from their AED bank account to their Sarwa X account without incurring international transfer fees, thus optimizing long term returns.

In early 2020, Sarwa moved to a new regulatory structure. The new license upgrade will help Sarwa to scale significantly, not only in terms of increasing the client base and but also in terms of product offering. Sarwa is now incorporated in the Abu Dhabi Global Market (ADGM), regulated by the Financial Services Regulatory Authority of Abu Dhabi (FSRA), and is expanding regionally.

Mark Chahwan, Co-founder and CEO of Sarwa: "We are so excited about dramatically cutting costs for our clients. Fewer fees mean more returns, which have already been fantastic in comparison to industry benchmarks. We wanted to work with a partner that can deliver on backend cutting-edge technology so we can have more flexibility. This means better services and a lot of new products on the horizon. Having Saxo as our trusted partner will help us continue to scale the business in a smooth matter and continue to improve our offerings for our clients. Saxo Bank stood out in our evaluations based on its regulatory framework and Open API functionality as well as experience and trust. As Sarwa continues to evolve and grow, we see a partner that supports us on our journey and on our expansion into new markets."

Since launching in 2017, Sarwa has been committed to working with globally reputable partners and banks to provide clients with the best service, while ensuring the safety and security of client assets. This offers Sarwa clients the right protection by an elaborate set of guardrails that surround the company as well as its offshore regulated partners under consumer-friendly laws. This mission has helped the company ensure maximum security and transparency to its clients.

Steve Weller, Middle East CEO for Saxo Bank said: "We are very proud to sign this agreement and work with Sarwa, a rising regional fintech with great potential for the future. Our joint agreement is a great example of the power of collaboration when two companies bring together their strengths for mutual benefit. At Saxo Bank we are always championing the power of partnerships, believing that financial institutions must explore external partnerships to innovate and improve the customer experience as digital consumption continues its rapid increase. This agreement with Sarwa is a perfect example of the win-win nature of partnerships and I expect we will see more such collaborations across the MENA financial services arena as digitization increases."

Sarwa prides itself on its commitment to advancing the investment industry in the region. The team is continuously working on elevating the quality and accessibility of services through powerful technology. The company continues to deliver the same award-winning investment approach, rooted in passive investing and high-quality service. With the new partnership, it can now offer a richer and more seamless investment experience that will ultimately have an even greater impact on its clients' lives.