Omani Startup Revolutionizes Personal Financial Management

Finance


Muscat – An Omani start-up has taken the digital transformation of banking services into high gear. The company’s Maaly app makes it easy for people to manage their financial matters. This app won the ITHCA Pitch Battle Competition 2023 held at COMEX last month.

Digital Coin Company (DCC) CEO Ahmed Al Shibri said in an exclusive interview with Muscat Daily that the Maaly app allows users to monitor transactions, gain insight into spending patterns and make informed decisions. It was designed as a unique financial management tool that allows you to Future financial initiatives such as budgeting and savings plans.

The idea behind the app was born out of the recognition of the need to digitize banking services in the country’s ongoing digital transformation. DCC started as a startup in his 2015, testing the idea at the SAS for Entrepreneurship Center at the Ministry of Transport, Communications and Information Technology. However, a breakthrough came in 2018 when the Oman Technology Fund invested in the company, supporting its vision to revolutionize the banking sector with digital services. “So we created a startup, the Digital Coin Company,” Sibley said.

DCC specializes in providing user-friendly financial solutions through projects such as Maaly App and TelyPay. While Maaly App focuses on personal financial management and helping users reach their financial goals, TelyPay offers a payment gateway and invoicing system for small businesses to accept payments remotely. .

“The ultimate goal of the Maaly App is to improve financial literacy and use technology to help users achieve their financial goals.”

Mr. Sibley emphasized DCC’s commitment to providing cutting-edge solutions that meet the evolving needs of its diverse customers. “We have a team of 13 professionals from different disciplines, united and working together to celebrate our recent success of winning the ITHCA Pitch Battle Competition 2023.”

As a start-up in the banking sector, DCC faces several challenges. These include sourcing and hiring the right people, building trust and recognition among potential customers and partners, and dealing with a complex regulatory environment. “In addition, we strive to expand our products and services while maintaining high quality and performance standards.”

Looking ahead, DCC aims to expand its offerings, streamline the fintech environment, and work with more financial institutions, e-commerce platforms, and relevant stakeholders. “We plan to introduce new products and services that meet the evolving needs of our customers, such as investment options, robo-advisors and personal savings.”

Mr. Shivli thanked organizations such as SAS for Entrepreneurship Centre, SME Development Authority and Oman Technology Fund for their help in shaping ideas, providing guidance and creating international links for knowledge exchange among entrepreneurs. I made a point.

Encouraging the younger generation of Omanis to embrace technological change, Shivli said, “It may be difficult to launch a startup in the tech sector, but it is achievable with passion, perseverance and perseverance.” Told.



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