Times of Malta: Binderr strikes strategic partnership with Dubai-based Seed Group

This post was originally featured in Times of Malta. You can read the original article here.

Maltese start-up says deal will help it expand in MENA region.

Binderr, a Maltese start-up that develops software to speed up client onboarding and compliance checks has sealed a strategic partnership with a UAE-based firm, Seed Group.

Binderr’s partnership with Seed Group is expected to help it access a network of corporate clients in Dubai that will help it expand in the region.

In a statement announcing the deal, the Maltese firm said Seed Group “is renowned for its strategic alliances within the UAE and the wider MENA region and brings invaluable expertise and connections to the table.”

The UAE was removed from the Financial Action Task Force grey list in February and demand for tools that facilitate anti-money laundering checks, like Binderr, is expected to grow in the coming years.

Seed Group is a company within the private office of Sheikh Saeed bin Ahmed Al Maktoum.

Binderr CEO and founder Jacob Appel said the deal was a major milestone for the firm.

"We are honoured to collaborate with the royal family and contribute to the advancement of innovative technologies in banking and professional services, supporting their growth initiatives,”
- Jacob Appel, Co-Founder & CEO at Binderr

Seed Group CEO Hisham Al Gurg said the collaboration underscored the company’s desire to leverage technology to grow and improve its business.

"Binderr’s innovative approach to anti-money laundering and know-your-customer (AML and KYC) procedures will undoubtedly benefit businesses in Malta and Dubai, both large and small,"
- Hisham Al Gurg, CEO at Seed Group

Binderr provides software tools that allow clients to create customised risk assessments, screen PEPs and sanctions lists, create automated periodic reviews and customised questionnaires and map out corporate structures to identify ultimate beneficial owners, among other things.

Seed Group, which has offices in 12 countries, is a Dubai-based conglomerate that invests in businesses, offering its partners mentorship, infrastructure and help accessing decision-makers.