Seed Group joins forces with Binderr to accelerate client onboarding and regulatory compliance in the MENA region

⬇ Download PDF: Press release on the partnership announcement between Seed Group and Binderr

Dubai, UAE; Naxxar, Malta—23 April 2024—Seed Group, a company of the Private Office of His Highness Sheikh Saeed bin Ahmed Al Maktoum, recently partnered with Binderr, a business and productivity software provider based in Malta. This strategic alliance is set to enhance compliance for businesses in Dubai and across the Middle East and North Africa (MENA) regions.

Binderr’s software is designed as a client onboarding platform for professional firms and financial institutions. Developed with three key stakeholders in mind — regulators, businesses, and clients — the platform addresses the bottleneck of client onboarding. It delivers a bespoke client experience while optimising scarce resources for businesses.

“We are pleased to welcome Binderr as our newest partner. Their advanced operating system and streamlined approach to anti-money laundering and know-your-customer (AML and KYC) procedures will produce greater things for small and established businesses in Dubai,” said Mr. Hisham Al Gurg, the CEO of Seed Group. He went on to say, “This collaboration exemplifies our shared drive to maximise technology to drive innovation, enhance efficiency, and create sustainable value for businesses in the locale.”

Seed Group is a conglomerate of a royal family in Dubai, with a rich legacy of fostering strategic alliances in the UAE and the wider MENA region. Collaborating with the company, therefore, provides Binderr with an opportunity to gain a unique insight into the business culture of the emirate. It also gives Binderr access to excellent regional connections and expertise that can help them grow and expand their business in the area.

Jacob Appel, CEO and Founder of Binderr, emphasised the importance of its expansion in the UAE. “Our technology is not just a tool; it is a statement that the UAE is open for business and playing at the forefront of compliance innovation. Remaining off the grey list is vital, and the fact that the UAE is welcoming software such as Binderr is a testament to their dedication to upholding the highest standards in the fight against financial crime.” Appel also remarked, “We are honoured to partner with the royal family to bring innovative tech to the banks and professional firms and support them in their growth.”

Notably, the UAE was recently removed from the FATF (Financial Action Task Force) grey list in February 2024. To maintain this status and further mitigate the risks associated with money laundering, embracing business solutions like Binderr is imperative.

Binderr’s digital features enable clients to utilise customised questionnaires and risk assessments, real-time data integration, facial recognition technology and identity verification, as well as advanced screening for PEPs and Sanctions. These components streamline operations and ensure regulatory compliance for the targeted sectors. Moreover, the platform efficiently maps out corporate structures to swiftly identify Ultimate Beneficial Owners (UBOs).

About Binderr

Binderr is a platform designed for professional and financial services firms, aiming to help them remain compliant, become more efficient, and grow their businesses. The software has been built alongside compliance experts. With their knowledge, Binderr has been able to listen, interpret, and create solutions that uphold regulatory standards around the globe. Binderr allows firms to adhere to a gold standard of compliance, eliminating risks of being fined, or worse yet, foreclosed by governmental bodies. For more information, visit www.binderr.com.

About Seed Group

For over 20 years, Seed Group has formed strategic alliances with leading global companies representing diverse regions and industries. These companies have propelled their business interests and goals in the Middle East and North Africa region through the support and strong base of regional connections of the Seed Group. The Group’s goal is to create mutually beneficial partnerships with multinational organisations and to accelerate their sustainable market entry and presence within the MENA region. Seed Group has been a key point in the success of all its partners in the region, helping them reach their target customers and accelerate their businesses. The Private Office was established by Sheikh Saeed bin Ahmed Al Maktoum to directly invest in or assist potential business opportunities in the region, which meet The Private Office’s criteria. For more information, visit www.seedgroup.com.

Binderr Media Contact

Suzanne Jeffers
+44 7928 590 414
suzanne@binderr.com

Seed Group Media Contact

Nomarie Jean Lacsamana
+971 4 373 5068
jean@seedgroup.com