Abhimanyu Girotra, chief executive officer of Huru
In spite of the UAE’s advanced financial landscape, a considerable portion of its workforce is still left outside the realm of formal banking. For Abhimanyu Girotra, the CEO of Huru, this disparity poses both a societal challenge and an enormous opportunity.
“The concept behind Huru stemmed from recognizing a significant gap in the market that impacts millions across the UAE,” Girotra explains. “Even though the financial ecosystem here is highly developed, a large portion of the workforce still lacks access to day-to-day banking services.”
This excluded demographic, primarily composed of expatriate workers, is substantial. “With over eleven million residents in the UAE, many of whom are expatriates, nearly half are either unbanked or underbanked,” he highlights. “That translates to millions handling their finances through methods that are often inefficient, costly, and insecure.”
Huru’s goal is to transform this situation by providing a regulated, affordable, and clear financial platform that facilitates managing, transferring, and saving money. In a market where digital wallets and salary cards frequently come with hidden fees and restrictions, Girotra views Huru as a significant step toward empowerment.
Regulated for Trust
Huru has taken a mindful approach compared to many fintech startups that launch and then seek licensing later. The platform is fully licensed by the Central Bank of the UAE, which Girotra emphasizes as crucial to its identity.
“Being licensed by the Central Bank of the UAE is core to our company’s identity—it’s not merely a regulatory formality, but the foundation of our business model,” he states. “This means that every product we provide, from IBAN accounts to remittances, is designed within a framework that meets the highest standards for financial and consumer protection in the UAE.”
The organization postponed its launch to guarantee that its technology, risk management, and governance adhered to Central Bank guidelines. Girotra believes that such oversight will encourage long-term user trust. “In a sector where many have encountered informal or unregulated financial solutions, this regulatory oversight offers real reassurance. It ensures users that their funds are secure, that fees are clear, and that they are participating in a system regulated as stringently as any traditional financial institution.”
Driving Measurable Financial Inclusion
According to Girotra, the genuine measure of inclusion is seen in users’ ability to save, remit, and eventually access credit. “Our platform, along with its various features, aims to encourage users to try out each function while making it simple and rewarding to foster regular use,” he says.
When it comes to remittances, Huru provides lower transaction fees than conventional channels, ensuring that “more funds are sent home rather than absorbed in fees and charges.” Girotra believes this savings dynamic will build a habit of remittance while encouraging larger transaction amounts over time.
Another vital differentiator is Huru’s no-fee policy for routine banking actions. “On other platforms, users incur charges for basic actions, like receiving SMS alerts or checking their account balance through the app. These costs can accumulate, making customers hesitate before performing these straightforward tasks. Huru avoids charging for such services to promote savings and the formation of Saving Pots.”
The Saving Pots feature is particularly designed to promote a culture of goal-oriented savings among users with limited income. “Saving Pots are a specific section within the app where savings are allocated for achieving long-term goals, such as funding a child’s education or purchasing a home,” Girotra mentions. “We are eager to see this feature come to fruition and how it helps realize our customers’ aspirations.”
To complete the financial inclusion strategy, Huru plans to launch a microfinance product aimed at extending credit to those with limited access to conventional loans. “Our targets for the uptake of this product are ambitious, and we’re confident in its success,” he adds.
With competitors like Pyypl, NOW Money, and E20 already in operation, Girotra asserts that Huru would leverage depth and design rather than breadth. “Huru isn’t merely a WPS card; it’s a comprehensive platform for financial access and opportunity,” he indicates. “We provide fully functional IBANs within minutes using only your Emirates ID. These accounts require no minimum balance and do not incur fees for not maintaining one.”
Additionally, Huru users benefit from practical offerings like one free ATM withdrawal per month and low-cost in-app remittances, all underpinned by crystal-clear fee transparency. “With these essential features, we aim for customers to retain more of their earnings for themselves and their families.”
Huru’s payroll functionality focused on employers could be a significant growth driver, especially as businesses look for compliant, employee-focused alternatives to outdated WPS systems. “A major hurdle for employers has always been the belief that transitioning payroll systems is challenging,” notes Girotra. “Our platform integrates seamlessly with existing WPS procedures, helping businesses remain fully compliant while enjoying a modern, employee-friendly system.”
This model also eases the financial and administrative load on employers by embedding credit and wellness features within the platform. “Employees often come to HR or management with credit or short-term financial needs. With Huru, that hassle is alleviated—we are launching a built-in microfinance solution directly for employees, minimizing the burden on employers while extending credit to an underserved demographic.”
To prioritize employee well-being holistically, Huru has paired with healthcare providers to provide complimentary medical checkups. “Employers prioritize the overall well-being of their teams,” Girotra adds. “We wanted to make this aspect part of our value proposition.”
Another innovative feature is persistent IBANs—accounts that remain active even when an employee changes jobs or payroll processors. “Every employee receives a persistent IBAN, which they keep even if the employer switches payroll providers,” Girotra explains. “This results in a cost-effective, stable, and future-proof infrastructure for all parties involved.”
Building a New Kind of Credit System
Extending financial inclusion naturally involves extending credit—and doing so in a responsible manner. Girotra explains that Huru’s approach blends caution with innovation. “A client becomes eligible for our loan offerings only after they have received three salary payments into their Huru account,” he clarifies. “This allows us to track the consistency of the funds’ origin, and during this period, we can also monitor all transactions occurring within the app, including remittances, bill payments, and card transactions.”
The company is developing a predictive model that combines transaction behavior with underwriting data to assess creditworthiness in real time. “Together with our underwriting insights and the prediction model we’re creating, this will enable us to construct a sustainable framework for extending credit to our clients,” he states.
Considering Huru caters to a financially vulnerable demographic, data privacy and transparency are crucial. “Trust is the cornerstone of our operations, especially since we engage with individuals who have been underrepresented and occasionally exploited by informal systems,” emphasizes Girotra.
“All user information is secured with bank-level encryption and complies with UAE data protection regulations,” he assures. The app also empowers users to manage their accounts independently—whether they want to change a card PIN or block a card—without needing third-party assistance. “Every transaction, charge, or service fee is disclosed to the user prior to confirmation, ensuring they are fully aware of what each payment entails.”
Girotra succinctly summarizes: “Trust cannot be built merely with words; it is fostered through consistency. The more secure and clear every interaction with Huru is, the stronger that trust becomes.”
Looking ahead, Girotra believes that Huru is only at the start of its journey. The company envisions expanding beyond simple transactions into a holistic financial ecosystem that encompasses savings, credit, insurance, and even healthcare. “Our long-term aspiration has always been to create an ecosystem rather than just an app,” he states. “The next phase will involve broadening our offerings through partnerships and services that can genuinely enhance our users’ financial health.”
Huru is currently pursuing collaborations in micro-savings, insurance access, and budget-friendly healthcare, which Girotra asserts will “directly improve daily life.” The platform also seeks to align with the broader financial inclusion efforts of the UAE and GCC, working in conjunction with regulators, employers, and institutional partners.
“This is merely the beginning for us,” he reflects. “Huru’s mission has always concentrated on empowerment, and our next focus is on amplifying that impact at scale.”