Local Business

Horizon Exchange launches new brand identity and address

reporters@khaleejtimes.com Filed on April 22, 2021

The new main branch is strategically located in Karama, one of Dubai's most accessible and frequently visited areas by UAE residents

Horizon Exchange will reduce transaction fees on its digital remittance solution and ensure greater transparency of end-to-end transactions

The company is also working on a proprietary smartphone app so customers can send remittances from the safety and comfort of their homes

Horizon Exchange, an exchange house based in the UAE, has unveiled its new headquarters and brand identity to signify its commitment to foray into digital solutions.

Previously based in Deira, Horizon Exchange has opened its new main branch in Karama – a neighborhood historically synonymous with rooted families, local businesses, and vibrant commerce. The company will run out of the Karama Shopping Complex and continue to provide remittance, currency exchange, and instant money transfer solutions to commercial and individual clients.

Speaking about the move, Hamid Ali, senior operations manager at Horizon Exchange, said: “We have enjoyed the loyalty and trust of our customers for the past 17 years. Moving our headquarters to Karama is part of our long-term strategy to expand services and be accessible in neighborhoods among the most financially active districts in Dubai. Karama is a conduit for the past and present of this Emirate. It has withstood and thrived the transformations of Dubai, while at the same time has become a major connector to newer parts of Dubai owing to its proximity to throughways like the Sheikh Zayed Road.”

Horizon Exchange has also announced that it is moving into the new digital era. According to a report by Research and Markets, the market size of global remittances is expected to reach $930.44 billion by 2026, growing at 3.9 per cent each year until then. As part of its long-term strategy, Horizon Exchange is working on a slate of new digital remittance and payments solutions focused on speed, reliability, transparency, and peace of mind for customers.

Horizon Exchange will reduce transaction fees on its digital remittance solution and ensure greater transparency of end-to-end transactions, further empowering its customers. In addition, the company is working on a proprietary smartphone app so customers can send remittances from the safety and comfort of their homes.

According to Ali, the digital transformations within the industry and the impact of Covid-19 have made reliable contactless and digital payments more important. “Growing smartphone penetration locally in the UAE — and in countries that see a high volume of remittance transactions — had already started changing the landscape of the industry. And the new normal under Covid-19 has made remote and digital services even more critical. Our strategic investments in digital solutions such as in a dedicated smartphone app will empower customers to use our services from their devices, wherever they are. This in turn will bring peace of mind to families and communities across the globe that rely on these remittances from their loved ones.”

Ali said he also takes inspiration from the leaders of the UAE who have relentlessly advocated to digitalize payments and other services long before the onset of Covid-19. “The leadership of UAE and Dubai has displayed a visionary thought process in how they see the future of the payments and remittances infrastructure. As a company that’s rooted in the Emirate and its people, it’s an honor for us to play a leading role in this national strategic way forward.”

Horizon Exchange has also announced a new brand identity. Accompanied by the tagline: ‘Instant. Anywhere. Anytime’, the new brand identity stands as a renewed promise to ride the wave of digital disruptions in the global remittance industry. Horizon Exchange will leverage its partnership with Mint Middle East to excel in the digital remittance space. Mint ME is a leading vertically integrated electronic payment solutions provider based in the UAE with proven success through digital and cashless solutions for the region, such as prepaid cards, mobile banking, KYC solutions and other financial and digital inclusion programs.

The new headquarters will comply with the Covid-19 protocols set by the Ministry of Health regulations and keep up with any official changes. There will be limited capacity within the premises, with social-distancing measures and the requirement of masks continuing over from its previous address.

Horizon Exchange expects worldwide remittances to gradually pick up pace as countries work towards safely re-opening their economies and supporting individuals and local businesses to become fiscally stronger. While most money transfers in the UAE happen through exchange houses, the share of digital remittances will keep getting bigger.


Staff Reporter

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