Andhra Pradesh Chief Minister N. Chandrababu Naidu officially inaugurates “DigiLab”, UAE Exchange Innovation Showcase

UAE Exchange, the leading money transfer, foreign exchange and payments solutions brand, marked its 37th anniversary yesterday with the opening of DigiLab, a permanent showcase for the Group’s innovation and digital assets, at its global headquarters in Abu Dhabi. DigiLab was officially inaugurated by Mr. N. Chandrababu Naidu, the Chief Minister of the southern Indian state of Andhra Pradesh, in the presence of Dr. B. R Shetty, Chairman of UAE Exchange Group, Promoth Manghat, Chief Executive Officer of UAE Exchange Group, and other dignitaries, senior management and employees of the company.

“Digital empowerment and the capability to deploy and leverage disruptive technology is an imperative for businesses to thrive in our times. Dr. B.R. Shetty always exhibited a streak of innovation in all his initiatives. The opening of DigiLab is an inspiring step as it speaks volumes about his vision and the focus of UAE Exchange Group to be a trailblazer in innovation, which will in turn benefit its customers, the community and the industry at large,” said Mr. Chandrababu Naidu, Chief Minister of Andhra Pradesh, India. Mr. Naidu visited the UAE Exchange Global Headquarters as part of his 3-day foreign tour in the United Arab Emirates.

The compact DigiLab facility at the UAE Exchange global headquarters, presents to the visitor a ubiquitous collection of devices, applications and displays of the group’s portfolio of digital products and channels.

“DigiLab is a milestone permanent exhibition centre for UAE Exchange where past, present and future outlook comes alive in a significant compendium of Group innovation. This innovation showcase reflects the brand’s aspirational quest from the days of its inception and its focus on adopting technology for service excellence. While it highlights the innovative spirit of UAE Exchange by displaying its industry-first pathbreaking products and services, it also indicates the direction of our digital and technology progress. We are honoured that our DigiLab permanent innovation showcase was inaugurated by none other than the Honourable Chief Minister Chandrababu Naidu, a visionary leader heading a tech-savvy government in Andhra Pradesh, and well-known for spearheading the state’s commitment to encourage innovation,” said Dr. B. R. Shetty, Chairman, UAE Exchange Group.

The devices on exhibition in the DigiLab include various smartphones, tablets and computers, loaded with the proprietary virtual assistant, transactional websites and applications based on Artificial Intelligence, Blockchain and mobile technology, which are key to increase the prospects and enhance experiences of online and mobile-based financial solutions.

The showcase has a “live” UAE Exchange self-serve kiosk for money transfer, bill payments, Smart Pay withdrawal and gocash statements, that is enabled with Emirates ID authentication and a virtual calculator. A video wall and a touchscreen, projecting the story of the evolution of the brand and providing information on its legacy, its range of offerings and its group of companies, round-up the facilities in the DigiLab.

“As a customer-centric brand, innovation has kept us one step ahead of the market in bringing out products and services that empower the customers, adding value to the lives of customers and to the communities they engage with. On the digital front, we are now moving to new Fintech pastures that will help us further improve our relevance in this new economy. A techno-savvy visionary statesman like Mr. Chandrababu Naidu consenting to inaugurate DigiLab is an honour for us,” said Mr. Promoth Manghat, CEO, UAE Exchange Group. He added that innovation, with a view to introduce seamless, cutting-edge solutions, is a constant endeavour at UAE Exchange.