Azimut Egypt announced on Saturday that it has received approval from the Financial Regulatory Authority (FRA) to launch the “azinvest” platform, a first-of-its-kind fully digital investment platform that provides access to Azimut’s range of investment funds and portfolios.
The move also marks the issuance of the first fintech licenses in Egypt’s asset management industry.
‘azinvest’ will empower investors with one-click access to Azimut funds across various asset classes including money market, bonds, equities, multi-currency investments and gold.
The platform leverages recent advances in the FRA’s regulatory framework governing the use of technology in the non-banking financial sector.
This development is in line with the ambitious financial inclusion plan set out by the FRA and the Egyptian government.
The platform offers a fully digitalized onboarding experience including e-KYC, e-identification, e-contracting and e-registration, eliminating the need for physical presence and handwritten signatures.
This will enable Azimut Egypt to serve its existing and potential customers digitally, allowing them to manage their savings and investments through the “azinvest” app.
The app allows users to browse Azimut funds, view details and prices, place buy and sell orders and conduct transactions such as deposits and withdrawals using a range of payment methods. Customers can also digitally manage their investment portfolio and adjust it to suit their changing goals, needs and preferences.
“azinvest” aims to democratize investing and promote financial inclusion by providing a user-friendly and compliant platform to invest across asset classes through Azimut funds and portfolios under the supervision of the FRA.
This successful launch reflects Azimut Egypt’s collaboration with its technology partners, including Optimatica, Lumin, CyberSource, El-Delta Trust and payment gateway partner Paytabs.
“We are pleased to write a new chapter in the history of Egypt’s non-banking financial industry,” said Ahmed Abu El Saad, CFA, MBA, CEO of Azimut Egypt.
“The launch of azimut International Holdings’ azimut banking system, which is a leading provider of financial services, is a groundbreaking development for Egypt’s investment and asset management industry. We applaud the FRA’s progressive approach to regulating the use of technology in this sector. azimut International Holdings’ azimut banking system, which is a leading provider of financial services, is a groundbreaking development for Egypt’s investment and asset management industry. azimut International Holdings’ azimut banking system, which is a leading provider of financial services, is a groundbreaking development for Egypt’s investment and asset management industry.
