National Bonds, spearheaded by its Group Chief Executive Officer Mohammed Qasim Al Ali, today unveiled a dynamic three-pronged strategy aimed at boosting savings across the nation in 2024. This visionary plan is centered around simplifying the savings process, enhancing financial literacy, and harnessing the power of digital innovation and tools.
Al Ali elaborated on the company’s mission, saying, “We aim to make saving a lifestyle, away from consumer culture and empower individuals to achieve their financial goals.” He emphasized that National Bonds is committed to making savings accessible and customer-centric, thereby positioning itself as a transformative force in the financial sector. The goal is to cultivate a culture where saving becomes integral to everyday life, contributing to a more stable and prosperous future for both UAE nationals and expatriates.
Under this new strategy, National Bonds is set to make saving effortless and habitual. They are introducing the option for individuals to save as little as Dh100 using their mobile phones, simultaneously offering increased chances of winning in the National Bonds 35.5 million rewards programme. This approach has already led to a 24 percent increase in regular savers year-on-year.
Additionally, National Bonds recognizes the critical role of financial literacy in empowering people to make sound financial decisions. To this end, the company is investing in educational initiatives, including workshops, online resources, and community-targeted campaigns.
Innovative product offerings like ‘My One Million’ and ‘Second Salary’ are part of National Bonds’ effort to cater to diverse market segments. These products are designed to create additional income streams for individuals, with customized solutions also available for high-net-worth clients and corporations.
The use of AI and advanced IT infrastructure has driven significant growth for National Bonds, with their mobile app experiencing a 300 percent user increase in 2023. This digital transformation is a cornerstone of their strategy, ensuring a seamless and accessible financial experience for all customers.
Armed with insights from an impressive 144 percent growth in new customers, National Bonds is poised to set new records in 2024. The company has initiated the year with the Financial Resolutions Survey to gather insights into the savings behavior and aspirations of various generations in the UAE. This data will be instrumental in shaping the company’s product development and customer engagement strategies, further solidifying National Bonds’ role as a leader in the savings and financial literacy sector.
