Unifonic Case Studies Leading With Trust

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	Leading With Trust Unifonic

Leading With Trust

Unifonic

Technology Category	Application Infrastructure & Middleware - API Integration & Management Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Chatbots Cybersecurity
Services	Cloud Planning, Design & Implementation Services Cybersecurity Services
Challenge	The Kingdom of Saudi Arabia is pushing to become the most prominent digital economy in the region, leading to a wave of fintech startups in the country. One such startup is Circlys, a public savings platform that was initially launched as a paper-based company in 2015 and digitised in 2017. The traditional practice of ROSCA (rotating savings and credit association) for savings was widespread in Saudi society but was often plagued by issues such as poor record keeping, reliability, and inability to offer long term savings. The digital version of ROSCA mitigates many of these concerns and allows users to join savings circles easily and transact digitally. Read More
About Customer	Circlys is a public savings platform based in Saudi Arabia. It was initially launched as a paper-based company in 2015 and digitised its platform in 2017. It was licensed by SAMA in 2020 and since then has been serving a large chunk of the population in KSA. The platform is available on Android and iOS platforms and currently has around one million users in Saudi Arabia. Anyone with a digital ID, bank account, and good credit score can join this collaborative savings platform. The company vets all its members with a robust risk assessment framework before onboarding them. Read More
Solution	Circlys uses a communications platform provided by Unifonic, which is critical to its customer experience strategy. The platform is used for user authentication, transaction alerts, and to push marketing campaigns. Circlys has a strong in-house development team, which gives it a competitive advantage in the market. They provide customer support through social media channels, aggregated on a platform developed in-house. They are also using chatbots from Unifonic to answer common questions people ask about their service. All their digital assets are hosted in the cloud and they have put in extra security layers to ensure the safety of money and customer data protection. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - API Integration & Management

Platform as a Service (PaaS) - Connectivity Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Chatbots

Cybersecurity

Services

Cloud Planning, Design & Implementation Services

Cybersecurity Services

Challenge

The Kingdom of Saudi Arabia is pushing to become the most prominent digital economy in the region, leading to a wave of fintech startups in the country. One such startup is Circlys, a public savings platform that was initially launched as a paper-based company in 2015 and digitised in 2017. The traditional practice of ROSCA (rotating savings and credit association) for savings was widespread in Saudi society but was often plagued by issues such as poor record keeping, reliability, and inability to offer long term savings. The digital version of ROSCA mitigates many of these concerns and allows users to join savings circles easily and transact digitally.

About Customer

Circlys is a public savings platform based in Saudi Arabia. It was initially launched as a paper-based company in 2015 and digitised its platform in 2017. It was licensed by SAMA in 2020 and since then has been serving a large chunk of the population in KSA. The platform is available on Android and iOS platforms and currently has around one million users in Saudi Arabia. Anyone with a digital ID, bank account, and good credit score can join this collaborative savings platform. The company vets all its members with a robust risk assessment framework before onboarding them.

Solution

Circlys uses a communications platform provided by Unifonic, which is critical to its customer experience strategy. The platform is used for user authentication, transaction alerts, and to push marketing campaigns. Circlys has a strong in-house development team, which gives it a competitive advantage in the market. They provide customer support through social media channels, aggregated on a platform developed in-house. They are also using chatbots from Unifonic to answer common questions people ask about their service. All their digital assets are hosted in the cloud and they have put in extra security layers to ensure the safety of money and customer data protection.

Impact #1	Circlys has been able to digitise the traditional practice of ROSCA, mitigating many of the issues associated with it such as poor record keeping and reliability.
Impact #2	The platform has been able to attract around one million users in Saudi Arabia, indicating its popularity and acceptance among the population.
Impact #3	The use of Unifonic's communications platform has enhanced Circlys's customer experience strategy, enabling user authentication, transaction alerts, and marketing campaigns.

Impact #1

Circlys has been able to digitise the traditional practice of ROSCA, mitigating many of the issues associated with it such as poor record keeping and reliability.

Impact #2

The platform has been able to attract around one million users in Saudi Arabia, indicating its popularity and acceptance among the population.

Impact #3

The use of Unifonic's communications platform has enhanced Circlys's customer experience strategy, enabling user authentication, transaction alerts, and marketing campaigns.

Benefit #1	Circlys has around one million users in Saudi Arabia.
Benefit #2	Circlys has recently raised $1.3 million through crowdfunding to expand its team and foray into new geographies.

Benefit #1

Circlys has around one million users in Saudi Arabia.

Benefit #2

Circlys has recently raised $1.3 million through crowdfunding to expand its team and foray into new geographies.

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Overview

Leading With Trust

Operational Impact

Quantitative Benefit