(MENAFN- OZON MARKETING) Dubai, UAE, May 31, 2024: Bajaj Finserv Direct Ltd., a subsidiary of Bajaj Finserv Ltd., one of India’s most diversified and leading financial services conglomerates with a market capitalisation of $31 bn, today announced the launch of its Technology Services business hub in the UAE, 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 marketplace for financial services. Its Technology Services division, Bajaj Technology Services in the UAE, will cater to the GCC and larger regional market, in the context of a growth in digital technology spends, which are projected to reach US $20bn by 2026 in the UAE, according to a recent study done by BCG.
On the occasion of launch, Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv Ltd. 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-harbour status, rapid growth of entrepreneurial and start-up ventures and availability of quality talent, has 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 the growth trajectory of Bajaj Technology Services, which will seek to develop solutions at scale for major sectors including financial services, retail & 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 making a meaningful difference to UAE’s vibrant market, Panchal added.
Bajaj Technology Services brings a unique blend of deep industry expertise, strong technology capabilities, and a customer-centric approach. Their ability to understand the pulse of the digital consumer, coupled with their experience in delivering large-scale solutions across various industries, positions the company uniquely to help businesses accelerate their digital transformation services.
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