Dubai - Sharikat Mubasher: LuLu Financial Holdings (LFH), a leading global financial services group, partnered with Purpleplum, a financial technology company providing digital banking infrastructure, to expand digital financial services for businesses across the UAE.
The partnership aims to simplify how businesses transact, access financial services, and manage their financial operations by connecting existing banking infrastructure, payment rails, financial products, and operational workflows, the company announced in a statement today.
It will combine Purpleplum's core-agnostic orchestration platform into LuLu Money Business, LFH's SME-focused financial services proposition, to reshape how financial services are delivered to businesses in the country.
The first phase supports LuLu Money Business's banking proposition for SME and enterprise customers. It brings together digital business accounts issued by ruya, alongside payments, cards, cross-border remittances, and WPS/payroll services through a single digital experience.
LuLu Money Business aims to move beyond individual payment and remittance transactions to address a wider range of financial needs, with the ambition of building a more connected financial ecosystem for SMEs.
Adeeb Ahamed, managing director at LuLu Financial Holdings, said: “With LuLu Money Business, our focus is on making everyday financial services simpler, more connected and easier to manage for SMEs. Through our partnership with Purpleplum, we are combining its modular, core-agnostic orchestration platform with our existing infrastructure to modernise how these services are delivered and unlock greater value from established financial rails."
The partnership aligns with Purpleplum’s plans to build a stronger presence in the region over the next 12 to 24 months, with the UAE serving as its regional base, and to continue investing in its AI-native banking infrastructure.
