News
Saudi Arabian Fintech Hakbah Partners With Tawuniya Insurance
The duo plans to revolutionize financial savings in the Kingdom while revealing an extensive life insurance coverage plan for Hakbah members.
Saudi fintech savings platform Hakbah has announced a revolutionary partnership with national insurance company Tawuniya at 24Fintech in Riyadh.
The strategic alliance will shake up the financial savings landscape in Saudi Arabia and address a significant gap in the market by offering Hakbah customers comprehensive life insurance during their Jameya time.
Key benefits will include:
- Extensive insurance coverage, including Death of Any Cause (DAC) to Passive War Risk (PWR).
- Enhanced financial security that lets customers focus on saving without worry.
- Alignment with Saudi Arabia’s Vision 2030 to support the government’s goal of boosting savings rates and promoting financial inclusion.
Hakbah founder Naif AbuSaida has expressed his enthusiasm for the collaboration, stating:
“We are thrilled to partner with Tawuniya to provide our customers with unparalleled financial security through life insurance coverage for all Hakbah’s members during the Jameya duration. Hakbah prides itself on its unyielding commitment to savings, driven by cutting-edge savings-engine technology. We look forward to exploring more collaboration with Tawuniya to benefit our customers and unleash the full potential of increased financial savings”.
Mohammed Bin Salma, Senior Executive Director for Life Sector of Tawuniya, added:
“The new partnership with Hakbah builds on Tawuniya’s commitment to promoting a culture of financial savings in the Kingdom, especially among the youth segment that constitutes the majority of the country’s population. Tawuniya […] will expand its reach to new horizons and cater to a broader customer base. By offering insured products, Tawuniya empowers individuals across every segment to embrace a positive savings culture”.
Also Read: Workplace Study Reveals Middle Eastern AI Use Is Skyrocketing
With around 70% of Saudi citizens requiring more emergency savings and household savings rates averaging just 1.6%, Hakbah hopes to make a lasting impact on this $20.5 billion market. The company is growing rapidly and has already exceeded its total revenue for 2023 in the first half of 2024. With a user base of 750,000+ and strategic partnerships with Riyad Bank, Fransi Bank, ANB, flynas, and Tawuniya, Hakbah is now extremely well-positioned to continue its impressive growth.
News
Club L London Teams With Checkout.com For Global Expansion
The fashion retailer plans to enhance global payments and expand into new markets using Shopify’s e-commerce platform.
Global payment provider Checkout.com, has announced a collaboration with Club L London, a rapidly expanding online fashion retailer, to improve its global payment capabilities.
Club L London, which operates through six dedicated international websites, has recently launched a new platform for the Middle East, and is relying on Checkout.com’s expertise to support its global growth. The partnership is particularly focused on the MENA region, where Checkout.com has offices in both Dubai and Riyadh, plus key licenses in the United Arab Emirates.
By choosing Checkout.com as its primary payment provider, Club L London benefits from a pre-built Shopify checkout solution and superior payment performance. Additionally, local acquiring services are available in the UAE, along with Shopify digital wallet integration, elevating the overall customer experience for shoppers.
Headquartered in Manchester, UK, Club L London offers affordable luxury womenswear with distinctive designs. The brand has a strong presence in the UK, US, France, Australia, and the UAE and specializes in prom dresses, maternity wear, bridal attire, and accessories. Club L has built a global community of diverse consumers, influencers, and content creators, consistently releasing new collections to meet the demands of its expanding audience.
Also Read: Top E-Commerce Websites In The Middle East In 2024
Remo Giovanni Abbondandolo, General Manager, MENA, Checkout.com, said: “We’re passionate about helping businesses thrive in the digital economy. Club L is a prime example of a tech-enabled brand that we can help to grow via high acceptance rates, smooth integration with its e-commerce platform, and leverage our leadership and knowledge position in the MENA region”.
Seb Green, Chief Technical Officer at Club L London, added: “We are always looking for ways to enhance the customer experience on our site by offering the best payment methods. Checkout.com’s integration is a perfect fit for us, presenting an exciting opportunity for us to expand into new markets with a leading payments provider”.
Club L London Teams With Checkout.com For Global Expansion
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