Bajaj Finserv Direct launches technology services arm in the UAE
Bajaj Finserv Direct has announced the launch of its Technology Services business hub in the Dubai International Financial Centre (DIFC) as part of its foray into the Middle East market.
Bajaj Finserv Direct, part of the multi-billion-dollar Indian conglomerate, the Bajaj Group, is among India’s leading digital marketplaces for financial services. Its Technology Services division, Bajaj Technology Services in the UAE, will cater to the GCC and larger regional markets in the context of a growth in digital technology spending, which is projected to reach US $20bn by 2026 in the UAE, according to a recent study done by BCG.
On the occasion of the launch, Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv, said, “A digital revolution is unfolding worldwide with AI and emerging technologies reshaping industries, businesses, and more so, lives. Given our strong track record of building tech-driven businesses, Bajaj Finserv is well poised to be at the forefront of digital transformation in financial services. The UAE, with its visionary leadership and new digital agenda, is the natural choice for our global debut. With the launch of Bajaj Technology Services in the UAE, we hope to enable businesses to thrive in the digital era.”
Speaking at the launch, Ashish Panchal, Chief Executive Officer, Bajaj Finserv Direct, said: “The launch of our Technology Services in GCC’s most vibrant digital and financial hub marks an exciting new chapter in the growth of Bajaj Finserv Direct. Strong capital inflows, safe-harbor status, the rapid growth of entrepreneurial and start-up ventures, and availability of quality talent have been boosting UAE’s economic activity. Backed by a 100-year legacy, a culture of innovation, customer centricity and proven expertise in digital transformation of businesses, Bajaj Technology Services looks to make a meaningful contribution to UAE’s ambitious Digital Economy Strategy that aims to double its digital economy’s contribution to GDP to 19.4% in 10 years.”
Bajaj Technology Services, has a strong track record of accelerating digital transformation of businesses by leveraging expertise in custom applications, enterprise applications, data engineering & analytics, Gen AI, cloud services and digital agency, thus reducing time to realize value.
The foray into UAE’s dynamic tech-driven market is a significant milestone in Bajaj Technology Services’ growth trajectory. The company will seek to develop solutions at scale for major sectors, including financial services, retail and e-commerce, and government enterprises.
Bajaj Technology Services’ strength lies in understanding the pulse of digitally savvy customers, which enables it to design customer journeys for a seamless experience across online and offline, DIY and assisted. It ensures back-office operations are aligned to data privacy, customer consent, infosec, and compliance requirements in third-party integrations and distribution partnerships. The Bajaj Technology Services team looks to build long-lasting partnerships and make a meaningful difference to UAE’s vibrant market, Panchal added.
