Riyadh, KSA, 22 October 2024- Elm, a pioneer in digital solutions, is showcasing its cutting-edge products for the fintech and eCommerce sectors at Seamless Saudi Arabia 2024 exhibition, which is being held from October 22 to October 24, 2024, in Riyadh Front, Saudi Arabia.
The event aims to highlight the future of digital commerce in Saudi Arabia. In line with its goal, the event sheds light on groundbreaking innovations in the realm of payments, fintech, banking services, retail, eCommerce and digital marketing, while featuring renowned companies and global industry experts. During the event, Elm is showcasing its two premium products developed for the fintech and eCommerce sectors, 'Yakeen' and 'Dhamen,' respectively.
The Dhamen service is a digital solution that serves as a secure and reliable e-sales operation to sellers and consumers, processing a payment processor service for various fields using an Escrow Account. The service addresses the requirements of eCommerce platforms while enabling users to complete transactions securely without relying on seller-based websites. Furthermore, it is designed to assure that a financial mediator guarantor secures the value of the goods or services before the delivery date by holding the money that the beneficiary has paid to the service provider until both parties have reached a complete agreement.
Meanwhile, the Yakeen service provides financial institutions, including banks and insurance companies, as well as public service institutions, such as government agencies, health facilities, and financial sector, aviation sector, to verify the data of any person associated with them in an official relationship, such as clients, auditors, employees and applicants. The service's verification is completed by using real-time electronic connectivity with databases maintained by the National Information Centre and Saudi Post, as well as adhering to the privacy restrictions on the information that may be viewed.
The key feature that distinguishes Yakeen service is its capacity to reduce fraudulent operations and raise the level of data quality by keeping it updated and consistent with official records permanently. It is subscribed through various packages that suit each customer's needs. Furthermore, the service is available for subscription under different packages that are tailor-made to meet each customer's demand. Yakeen service's products include Natheer, Nafath, Dakhli, Fingerprint and Remote Verification.
Majid bin Saad Al Arifi, the official spokesman and CEO VP of the Marketing Sector at Elm, said: “Seamless Saudi Arabia 2024 provides us with an ideal opportunity to share and explore the potential of collaboration with leading companies in the field of digital solutions development. It enables us to highlight the latest trends and innovations in the fields of payments, fintech, and eCommerce. By actively participating in this event, we aim to launch our smart digital solutions, which can facilitate business performance techniques that help to save time and cost and improve productivity and process efficiency."
He added: “At Elm, we leverage innovation and technological capabilities to address the requirements of society for a smart and integrated life that is supported by the best competitive digital solutions. We have developed 'Yakeen' and 'Dhamen', along with 45 innovative services, and implemented over 2 billion operations. We are developing these services consistently that are tailored to the needs of diverse industries in the government and private sectors using the latest business intelligence technologies."
Elm will also participate in a panel discussion entitled 'Utilizing modern APIs: embedding financial services into customer experience with BaaS'. During the session, Abdulaziz Ibrahim Altukhais, Executive Manager of Business Products at Elm, will highlight ways to improve the experience of financial services clients by leveraging the latest software methods. In addition, Abdellah Faisal Habash, Product Manager at Elm, will represent the company in another discussion titled 'Automated consumer lending: Game changer lending concepts with speed and customer experience at the forefront.'
Seamless Saudi Arabia 2024 hosts over 600 exhibitors and more than 350 specialised speakers. This year, the event expects to receive more than 25,000 attendees. Elm's participation in the event provides a vital opportunity to reinforce its impact and promote the brand in the digital services market in both the Kingdom and the wider region.