Seed Group Partners with Binderr to Enhance Compliances for Businesses in Dubai

Seed Group, a company of the Private Office of H H Sheikh Saeed bin Ahmed Al Maktoum, on Tuesday announced that it has partnered with Binderr, a business and productivity software provider based in Malta and this strategic alliance is set to enhance compliance for businesses in Dubai and across the Middle East and North Africa (MENA) region.

The software of Binderr, a Maltese’s start-up, is designed as a client on-boarding 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 on-boarding. It delivers a bespoke client experience while optimising scarce resources for businesses.

Dubai-based Seed Group’s CEO Hisham Al Gurg said that Binderr’s 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.

“This collaboration exemplifies our shared drive to maximise technology to drive innovation, enhance efficiency, and create sustainable value for businesses in the locale,” Al Gurg said.

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.

UAE Leads in Compliance Innovation

Emphasising the importance of his company’s expansion in the UAE, Binderr’s CEO and founder Jacob Appel said that their technology is not just a tool and 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. He said and added that they were honoured to partner with the UAE’s royal family to bring innovative tech to the banks and professional firms and support them in their growth.

It may be recalled that the UAE was 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).

Binderr provides software tools that allow clients to create customised risk assessments, screen PEPs and sanctions lists, create automated periodic reviews and customised questionnaires and map out corporate structures to identify ultimate beneficial owners, among other things.

Seed Group, which has offices in 12 countries and invests in businesses, offering its partners mentorship, infrastructure and help accessing decision-makers.