National Bonds unveils strategy to drive nationwide savings surge in 2024

DUBAI: The Group Chief Executive Officer of National Bonds unveiled a three-pronged strategy today to drive a nationwide savings surge in 2024. The plan focuses on simplifying savings, fostering financial literacy, and leveraging innovation and digital tools. Mohammed Qasim Al Ali, Group Chief Executive Officer at National Bonds, commented, "We aim to make saving a lifestyle, away from consumer culture and empower individuals to achieve their financial goals. "By prioritising accessibility, innovation, and customer-centricity, National Bonds is positioning itself as a key player in shaping a future where saving is not just a necessity but a way of life, fostering a more stable and prosperous future for the UAE nationals and expatriates." According to the 2024 strategy, National Bonds will make savings effortless and habitual, allowing them to save as little as AED100 directly from their mobile phones and entitling them to increased chances of winning from the National Bonds 35.5 million rewards programme. This user-friendly approach has contributed to a 24% increase in regular savers year-on-year. Recognising the importance of financial literacy, National Bonds is investing in educational initiatives to empower individuals and families to make informed decisions about their finances. This includes workshops, online resources, and targeted campaigns in various communities. National Bonds is catering to diverse segments with innovative products like "My One Million" and "Second Salary", designed to create an additional income stream for individuals. National Bonds will also continue offering customised solutions for high-net-worth clients and corporations. These products will benefit from AI and IT infrastructure, which propelled National Bonds' mobile app to a 300% user growth in 2023. This commitment to digital transformation ensures a seamless and accessible financial experience for all. With an incremental growth of 144% in new customers and armed with customer insights, National Bonds plans to break new records and set new milestones in 2024. National Bonds has started the year with a new survey, the Financial Resolutions Survey, to gain valuable insights into the savings perspectives and aspirations of different generations across the UAE. This data informs the company's product development and customer engagement strategies. Source: Emirates News Agency