Al Ansari Exchange has rolled out a plan to redesign its physical shops across the UAE, introducing key improvements including the addition of smart counters, amid talks of it going public soon.
The new branch concept, which also features design alterations, was unveiled at the exchange house’s Dubai Hills Mall branch, but will later on be implemented in all of this branches.
One key revamp is installing smart counters where customers no longer have to speak to a human teller.
“Our smart new branches were designed to complement our strengthened digital transformation initiatives and to reaffirm our strategy of continuous branch expansions,” Mohammad Bitar, deputy chief executive officer of Al Ansari Exchange, said in a statement.
He said while digitisation is important to their strategy, “we are still placing importance on our brick-and-mortar branches.”
Al Ansari has over 200 branches across the UAE, and has a market share of around 30 percent as of 2020. It claims it has more than 2.5 million transacting customers per month.
The redesign comes as the money transfer giant was reported to launch an initial public offering in the first quarter of 2023. In August, Bloomberg reported Al Ansari has picked EGF-Hermes and Emirates NBD to work on the potential listing.
“Al Ansari Exchange has been evaluating the idea of going public for some time, however no final decision has been made yet,” its chief executive officer Rashed Al Ansari said at the time.
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