Interview: CEO of UAE’s first fully digital bank Zand sees ‘a real opportunity’ for growth

Interview: CEO of UAE’s first fully digital bank Zand sees ‘a real opportunity’ for growth

Sandwiched between mega global banks and regional banking institutions, which enjoy strong local networks and footprints, digital banks face unique challenges of scale and differentiation.

However, for Olivier Crespin, co-founder and CEO of Zand, the first fully digital bank in the region combining both retail and corporate banking, such an environment presents a real opportunity for digital banks like his.

“This is a real opportunity for us as we can focus on real value-added products and services for customers. As a matter of fact, we’re starting with cards, current accounts, remittances, portfolio finance management and lending for retail clients and supply chain finance and bilateral loans for corporates,” he told Zawya, adding that Zand will keep adding products as and when they can be fully digitalised.

“We’re also partnering with fintechs for most of our offerings; hence time-to-market can be fast. So, scalability, time-to-market and product differentiation allow us to distinguish ourselves.”

In July this year, Zand announced that it had been granted a banking licence from the Central Bank of the UAE to become Zand Bank PJSC, a fully licenced bank.

Its shareholders include distinguished names such as the Aditya Birla Group (Solfrid Investments Pte. Ltd), Al Hail Holding LLC, Al Sayyah and Sons