Najm wins International Award for Innovation Within Financial Services Sector

Majid Al Futtaim Finance, the financial arm of Majid Al Futtaim, the leading shopping mall, communities, retail and recreation leader across the Middle East, Africa and Asia, under the Najm brand name, introduced today that it has won a global award for technical innovation within the financial solutions sector.

The company was internationally recognized at the Celent Model Bank Awards 2018, winning the Best Lending Product award for its immediate credit card issuance programme. The event occurred in Boston, Massachusetts, and granted banks from throughout the world for ideal practices of modern technology usage important to success in the industry.

Lined up with the UAE's total innovation mandate and Vision 2021 to relocate the nation to a cashless culture, Najm's immediate credit card issuance programme enables prospective card members to stroll into a Carrefour Hypermarket and within 15 mins have a Najm Charge Card. From their initial transaction, and without any category constraints, they could start making cashback incentives on every little thing, anywhere, and gain from in-store deals.

Commenting on the awards, Chief Executive Officer of Majid Al Futtaim Finance, Rasool Hujair, said: "We are honoured to be recognized on the world-stage for offering a first-class client experience via our digital developments. Najm stays steadfast in its commitment to supply simple, hassle-free and safe services and products, and this award is testament to our determination to challenge the status quo and be the initial to present unique proposals to the market."

Najm's immediate bank card issuance programme was turned into a study by Celent, a research, consultatory, and consulting solid concentrated on economic services technology, and part of the Oliver Wyman Group. The introduction of the durable borrowing service, which is the first-of-its-kind to be implemented in the UAE, is a plan for various other financial solutions firms to introduce it efficiently.

" The value proposition of the instantaneous issuance programme is that customers get their card instore and on-demand, and can start using it quickly. The freedom to acquire any products, which they would certainly have or else had to postpone, feeds right into individuals' expanding needs for a fast and convenient experience, and we are thrilled to share this effort's success with various other banks across the world," included Hujair.

Craig S. Focardi, Senior Analyst at Celent, said: "The Model Bank Awards identify how financial institutions are using modern technology to transform the face of banking. These banks should act as an inspiration to others trying to find solid instances of best method implementation that will certainly have a really significant impact on business results and the industry overall. The entrance from Majid Al Futtaim Money plainly showed this.

" Offering instantaneous credit, a cashless repayment system, and digital rewards tracking delights brand-new customers, makes it possible for repayment for various other Majid Al Futtaim products, and develops immediate loyalty for the Najm brand."

Immediate Issuance is helped with through Najm sales representatives at devoted Najm customer care desks in 17 Carrefour Hypermarkets throughout the UAE, with strategies to broaden this service to more places throughout the year.