Alibaba Cloud Expands Fintech Footprint with LuLu Financial Holdings and Ant Digital Technologies AI Partnerships
Dubai, The United Arab Emirates, May , 2025 – Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today announced its strategic partnerships with LuLu Financial Holdings('LuluFin'), a leading UAE-based financial services company and Ant Digital Technologies during the Dubai Fintech Summit 2025. These collaborations underscore Alibaba Cloud's ongoing commitments to supporting the region's digital transformation by equipping businesses with effective tools and robust infrastructure to thrive in an AI-powered world.
These alliances come amid a wave of AI-led disruption and digital reinvention in the UAE and the wider GCC, where financial institutions are being redefined by national innovation strategies, ecosystem investments, and future-focused talent development. This technological shift holds immense economic potential, with McKinsey estimating a $1 trillion annual value opportunity in global banking, and PwC projecting a $320 billion contribution to the Middle East's economy by 2030.
Eric Wan, Vice President of Alibaba Cloud International, General Manager of the Middle East, Turkey, and Africa, Alibaba Cloud Intelligence, said: 'We've always believed that technology has the power to drive real-world change, and our collaboration with leading financial institutions like LuLu Financial Holdings and Ant Digital Technologies reinforces this belief. It allows us to support them not just adapt but thrive in an increasingly digital world. With our dynamic cloud solutions and AI capabilities, we're supporting their journey to deliver smarter, more secure financial services – unlocking countless opportunities and reimagining the future of the financial sector.'
Alibaba Cloud's robust cloud infrastructure and Generative AI capabilities are key to LuLuFin' transformation into an AI-native organization. With Alibaba Cloud's advanced solutions and technologies, LuLuFin has adopted a multi-cloud strategy that strengthens business resilience, enhances disaster recovery capabilities, and guides the development of innovative, customer-centric financial services. Alibaba Cloud's extensive portfolio of services, including its Elastic Compute Service (ECS), Disaster Recovery as a Service (DRaaS), PolarDB, and the EMAS mobile testing platform, provides LuLuFin with unprecedented agility, scalability, and security.
Additionally, by leveraging Alibaba's proprietary large language model Qwen, LuLuFin is developing an internal AI agent called Treasury AI, as part of the joint Agentic AI development program. This intelligent platform is engineered to optimize fund allocation and movement. Treasury AI helps in transaction costs, currency exposure, and regulatory compliance. These innovations, powered by Qwen, are poised to significantly enhance LuluFin's service capabilities, revamp customer interactions, and streamline decision-making through predictive analytics and natural language processing.
Joseph Cleetus, VP of Business Transformation, LuLu Financial Holdings said: 'AI is no longer on the horizon. It's already transforming the way we live, work, and transact. This collaboration marks a pivotal step forward in our journey to redefine cross-border payments, not just as a service, but as an intelligent, anticipatory experience. Together with Alibaba Cloud, we are building a future where technology doesn't just support finance — it elevates it.'
During the Summit, Alibaba Cloud also announced its plan to deepen collaboration with Ant Digital Technologies to expand the suite of joint solutions into its Dubai region later this year, including ZOLOZ for digital identity verification, mPaaS for SuperApp development and operations, and cutting-edge AI capabilities tailored for the financial services industry (FSI). Leveraging the advanced technologies of Ant Digital Technologies and robust cloud and AI infrastructure of Alibaba Cloud, the partnership aims to deliver secure, scalable, and intelligent digital transformation services for local FSI customers. This initiative underscores both companies' commitment to empowering financial institutions in the region with innovative cloud and AI-native tools and trusted digital infrastructure.
By partnering with forward-thinking organizations like LuLu Financial Holdings and Ant Digital Technologies, Alibaba Cloud is helping businesses harness the full potential of technology to deliver meaningful change and create value for their customers and communities.
Alibaba Cloud has been a leading provider of cloud services to local private companies and public institutions in the UAE and the wider Middle East region since 2016. It has a robust local ecosystem in the MEA region with partners covering banking, financial services and insurance, media, public sectors, and customers locally across different sectors.
Photo caption:
Eric Wan Vice President of Alibaba Cloud International, General Manager of the Middle East, Turkey, and Africa, Alibaba Cloud Intelligence and Joseph Cleetus VP of Business Transformation, LuLu Financial Holdings witnessing the strategic partnership between Alibaba Cloud and LuLu Financial Holdings with the launch of Treasury AI platform at Dubai Fintech Summit.
About Alibaba Cloud:
Established in 2009, Alibaba Cloud (www.alibabacloud.com) is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, big data analytics, machine learning and artificial intelligence (AI) services. Alibaba has been named the leading IaaS provider in Asia Pacific by revenue in U.S. dollars since 2018, according to Gartner. It has also maintained its position as one of the world's leading public cloud IaaS service providers since 2018, according to IDC.
About LuLu Financial Holdings:
LuLu Financial Holdings is a leading global financial services provider, offering a wide range of services including cross-border payments, currency exchange, and financial technology solutions. With over 370 customer engagement centers in over 10 countries across the Middle East, Indian subcontinent and APAC regions, and a commitment to innovation and customer satisfaction, LuLu Financial Holdings continues to set benchmarks in the financial services industry.
About Ant Digital Technologies:
Ant Digital Technologies is the technology commercialization business division of the Ant Group, which started independent operation in April 2024. Ant Digital Technologies originated from AntChain and has the leading technologies and patents in the field of blockchain globally. It has continuously developed several commercialized product brands such as ZOLOZ, mPaaS, and ZAN, with representative technological capabilities and businesses that are always committed to helping enterprises better embrace the digital age.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
6 hours ago
- Mid East Info
Azizi Developments Renews Bahra Electric Partnership For Busbar And Earthing Lightning Protection Solutions
Dubai, UAE,August 2025: A zizi Developments, a leading private developer in the UAE, has announced its partnership extension with Bahra Electric, a renowned KSA-based electrical solutions provider. Under this collaboration, Bahra Electric is providing advanced busbar and earthing lightning protection systems across Azizi's projects in Dubai South, Dubai Healthcare City, Dubai Sports City, and Al Furjan, including Venice, Creek Views III, Grand, and Central. Founded in 2008, Bahra Electric is a leading electrical manufacturing company that specializes in a wide range of products including wires, cables, busway systems, panel boards, transformers, and switchgear. With state-of-the-art manufacturing facilities, the company adheres to international standards like ISO 9001 and IEC, ensuring high-quality products for sectors such as construction, utilities, and oil and gas across the Middle East and North Africa. Bahra Electric is committed to sustainability and innovation, continuously expanding its product lines and market presence. Mr. Farhad Azizi, Group CEO of the Azizi group of companies, said: 'We are delighted to be strengthening our partnership with Bahra Electric, a major regional force known for its reliability, technical excellence, and future-ready infrastructure solutions. Their continued support in supplying our developments with world-class electrical systems reflects the trust we place in their products and capabilities. As we expand our project pipeline and accelerate construction, we remain committed to engaging exclusively with best-in-class suppliers who help us uphold our standards of quality, safety, and innovation.' Azizi Venice will comprise more than 36,000 residential units across 100+ apartment complexes and over 109 ultra-luxury mansions. Azizi Developments is taking on the role of master developer, in charge of constructing the buildings, roads, and all the infrastructure. Centered around a vast, crystal-blue lagoon that encircles its condominiums, villas, and mansions, Azizi Venice provides a picturesque setting for leisure, retail, and commercial spaces. The turquoise, desalinated waters are bordered by sandy beaches, an 8 km-long cycling and jogging track, yoga and sports facilities, and a vibrant promenade featuring a variety of artisan eateries and boutiques. The area is enhanced by leafy, dense, and beautifully manicured greenery, creating a serene and inviting atmosphere throughout. A major attraction to be developed within Azizi Venice is The Cultural District in Dubai South, which will incorporate a collection of iconic facilities, including an opera house, theatre, exhibition hall, and performing arts academy. Built to mirror Dubai's dynamic and diverse cultural scene, the project is poised to attract creatives from around the globe. Seamlessly merging art and culture, the upcoming district will be a lively hub, enhancing the lives of Dubai South residents and visitors through a range of engaging activities and experiences. Azizi Venice's stunning array of venues is set to elevate the emirate's arts landscape. At its core is a 2,500-seat opera house showcasing an innovative, futuristic structure by Zaha Hadid Architects with advanced acoustic and visual technology to guarantee an unparalleled artistic experience. A more intimate 400-seat theatre provides a versatile space for drama, comedy, art workshops, and smaller performances. Further enriching the district's offerings is a spacious exhibition hall that can accommodate up to 2,000 people. Intended to present a range of local and international exhibitions, this flexible area is ideal for everything from paintings and sculptures to cutting-edge digital art. Recognizing the importance of nurturing future talent, the district will also house a dedicated performing arts academy, which will play a vital role in refining the skills of the next generation of artists ready to leave their mark on the UAE's exciting cultural scene. This opulent development will also integrate a pedestrian-friendly space that remains open-air in the winter and transforms into a glass-covered, temperature-controlled area during the summer, ensuring year-round comfort. Lined with three-storey buildings, it will host leading global retailers, nightlife, entertainment options, and a broad selection of international culinary options, establishing itself as a unique destination on Dubai's map of outstanding sights. A prime tourist attraction and high-end local hotspot, Azizi Venice is set to welcome over 30,000 visitors each day. It will feature two Azizi-owned and operated five-star hotels at its main entrances, along with a boutique hotel situated on an island in the center of the lagoon. An ample number of underground parking spaces will be built to ensure convenient access to Azizi Boulevard and Azizi Opera for all guests. Azizi Venice will have its own full-service hospital, kindergarten, schools for grades 1 to high school, and a 4 km-long aesthetically designed and landscaped main road that will be flanked by additional dining and shopping options. Moreover, the development will have a strong focus on children, with a wide range of amenities specifically for them, and numerous safe areas where they can roam and play freely. The site will boast several stunning lighting features on building façades and beyond, as well as musical and dancing water fountains that will add a festive night-time feel to the lagoon, the boulevard, and the opera. Further to this, Azizi Boulevard and the neighborhood as a whole will be extravagantly decorated in theme for each season, holiday, and festivity of the year, adding to its popularity as one of the most interesting points of interest in the UAE. Azizi Developments' Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road. About Azizi Developments: Azizi Developments is a leading developer based in Dubai, UAE. With more than 45,000 homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai's most sought-after residential and commercial destinations, its construction-driven approach, and its commitment to transparency and customer centricity. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalyzing the vision and development of the markets that it operates in. Azizi currently has around 150,000 units under construction, valued at several tens of billions of US dollars. The company is renowned for developing the world's second tallest skyscraper, Burj Azizi, as well as the master planned communities of Azizi Riviera, Azizi Venice, and Azizi Milan, among various other world-class projects across MBR City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, Dubailand, Al Furjan, Dubai Islands, Studio City, Sports City and Downtown Jebel Ali.
Mid East Info
7 hours ago
- Mid East Info
Meraki Developers unveils ‘The Haven' – a landmark residential handover in Majan, Dubailand - Middle East Business News and Information
The Haven is a modern residential community that harmonises city connectivity with peaceful living, offering thoughtfully designed homes and a full range of lifestyle enhancing amenities. Dubai, UAE: Meraki Developers has announced the successful on-schedule handover of The Haven, a landmark residential community located in Majan, Dubailand. This delivery underscores the developer's commitment to providing a high-quality living experience to residents, who will call The Haven their home. The units are beautifully designed, maximising living spaces with elegant, warm aesthetics, appealing both to the young as well as the mature residents of the community. The Haven has been conceptualised as a contemporary residential enclave that blends urban accessibility with tranquil living. Featuring spacious layouts and premium interior finishes, the development also offers a comprehensive suite of high-end amenities designed to support modern lifestyles, including wellness facilities, co-working spaces, separate adult & kids' swimming pools, solar-powered parking, and recreation areas such as party hall, recreation lounge as well as indoor and outdoor children's play spaces. His Excellency Eng. Marwan bin Ghalita, Director General of Dubai Municipality, commented: 'Congratulations to Meraki Developers on the successful handover of The Haven. The Haven reflects the kind of high-quality, design forward development that strengthens our city's residential offerings and aligns with our vision for liveable, sustainable communities.' Ajay Rajendran, Founder and Chairman of Meraki Group, commented: 'A home is one of life's most meaningful investments as it is a place that shapes individuals, nurtures families, and strengthens communities. Every Meraki community is a testament to conscious design, refined living, lasting quality and a seamless journey that begins long before the keys are handed over. At Meraki, our vision is to create residences that not only provide comfort and pride of ownership but also enrich the spirit of those who live in them. With The Haven, we have sought to bring this vision to life, and I am deeply proud of the team behind this project and their unwavering dedication to excellence. We assure you of our commitment to deliver properties that stand out for their quality, elegance, and customer experience.' The Haven has been developed entirely under Meraki's vertically integrated model, with in-house capabilities across design, engineering, and construction — this covers the entire life cycle of the project right from project conceptualisation to ensuring ease of maintenance post-handover. This handover affirms Meraki's emergence as a credible and ambitious force in the UAE's residential sector and further solidifies its position as a developer committed to timely delivery, visionary planning, and enduring value creation. About Meraki Developers: Meraki Developers is a Dubai-based real estate company known for delivering high-quality projects with precision and integrity. With in-house expertise across design, engineering, and contracting, Meraki ensures seamless execution from concept to completion. Having completed over 110 projects as a group – including residential towers, luxury villas, and commercial developments – Meraki is reimagining urban living through thoughtful design, sustainability, and lifestyle-focused amenities. The company is committed to building vibrant communities that promote well-being and elevate everyday life. Looking ahead to 2030, Meraki aims to join Dubai's top ten developers by consistently delivering high quality living experiences for its customers, in a timely manner, that inspires trust and brings joy to the residents of our communities.
CairoScene
13 hours ago
- CairoScene
UAE's e& Rolls Out Gulf's First Dual-Band 5G Radio Unit
e& UAE has deployed the Gulf's first Dual-Band 64T64R MetaAAU, merging 2.6GHz and 3.5GHz bands into one device to reduce equipment size, power use and rollout time. Aug 14, 2025 e& UAE became the first operator in the Gulf region to roll out the Dual-Band 64T64R MetaAAU, a new radio unit that combines two 5G frequencies into a single piece of equipment Installed on a live network, the device halves the equipment needed at mobile sites, reduces power use, and improves indoor coverage and high-traffic area performance. The unit merges the 2.6GHz and 3.5GHz bands, using 384 antenna units - double the capacity of previous setups. Power consumption drops by 35%, with additional savings of 15% during off-peak hours due to automatic sleep features. Unlike older installations requiring separate setups for each band, the MetaAAU reduces equipment size by 60% and cuts rollout time in half.
