Exclusive: Saxo Bank partners with Sarwa targeting young UAE traders
FNG Exclusive… FNG has learned that Copenhagen based Retail FX broker has agreed on a strategic partnership with Sarwa, a UAE-based fintech firm and the region’s first online investment advisory platform for young professionals, which will support Sarwas’s growth across the MENA region.
The partnership utilizes Saxo Bank’s platform and technology, allowing Sarwa to add new asset classes to their offering, and provides flexibility to tailor products and services more effectively to clients.
The collaboration will also add efficiency for Sarwa, allowing them to scale significantly in the future, both in terms of increasing their client base and product offering across multiple asset classes.
Steve Weller, Middle East CEO for Saxo Bank said of the new partnership:
“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 digitisation increases.”
Mark Chahwan, co-founder and CEO of Sarwa added:
“We chose to enter this partnership with Saxo Bank as we have been on a positive and fast-paced growth trajectory since our platform launch in Feb 2018. We understood the need for a partner that could help us to scale the business in a seamless matter and enable us to provide more services and products for our clients as we expand into new markets.
“Saxo Bank stood out in our evaluations based on the cutting-edge technology, regulatory framework and Open-API functionality as well as technical support and intangibles such as consumer trust and experience. As Sarwa continues to evolve and grow, we see the need for a partner that supports us on our journey and expansion into new markets. We are very happy to be working with such a dedicated and professional team.”
Saxo Bank supports more than 120 White Label partnerships globally, offers a range of partnership options to more than 300 financial intermediaries, off-the-shelf solutions, and tailored outcomes to support institutional clients in the financial services sector on their growth path.
Since control of Saxo was acquired by China’s Geely Group in 2018 the multi-asset broker has actively been seeking to expand its footprint in Asia and the Middle East. We recently reported that Saxo launched a loyalty rewards program for MENA clients.