Everyone is looking for ways to grow and increase their income and investment could be a large factor to such a productive lifestyle. So let’s say you want to invest your money, but you don’t have enough experience or knowledge in this field nor do you want to add another thing to stress and learn about on your plate? After all, investment can be such a hassle.
And with a snap of a finger, twazn comes in! Just like the name suggests in Arabic, ‘balance’, twazn is the best option for you to strike that perfect equilibrium in your life, the platform aims to level the playing field for all investors alike regardless of any existent or nonexistent background of the industry.
The platform is described as an investment manager that resides in the palm of your hand, available to your beck and call 24/7, the autopilot to your investment life. Or, as Dr. Hamad Alsayed, twazn’s Founder and CEO, put it: “twazn can be referred to as a ‘robo-advisor’”. We’ll take your word for it!
True to its name, the platform is aware of the disadvantage people commonly have when it comes to investing, so their robo-advisor tech changes that. “It is a sophisticated machine designed to behave, think, and act like its human counterpart.” Dr. Alsayed shared, “The human and the machine differ in the fact that the robo-advisor accepts any number of clients and any size investment deposit. It never gets tired and never takes a break. In doing so, it levels the turf for all investors, a great balance and equilibrium achieved.” He added. A real twazn, indeed. We see what you did there.
The platform is simple to use and navigate: first, you need to complete a short and fun questionnaire to help the platform better understand your goals and profile; then accept or modify the portfolio the smart algorithms recommend based on your responses. Finally, make a secure and hassle-free deposit into your account.
There is practically nothing else for you to do after that. Your robo-advisor invests your funds in the market, monitors your risk, conducts required portfolio adjustments (while notifying you before, during, and after), and explores for cost and tax efficiencies on your behalf, all the while attempting to maximize the growth of your portfolio.
Your money is essentially in the hands of a professional investment manager, or your automated bestie as we like to call it!
“Interestingly, our early-access clients indicated that even beyond the tech, one thing that is very comfortable is the ease by which they can move funds in and out of their twazn account.” Dr. Alsayed clarified, “Depositing into and withdrawing funds from your twazn account is as easy and instant as transferring funds from one Bahraini bank account to another. Your robo-advisor liquidates your portfolio into cash immediately and remits that back to your registered bank account.” They promise security and simplicity at every step of the way.
Knowing that, we asked Dr. Alsayed how the idea of twazn came into fruition. “The need to create an inclusive, professional, automated digital investment platform came from having conversations with people about the financial market, stories exchanged about earnings and loss depending on the rise and fall of the market,” he shared, “The one thing agreed upon is the stress and risk of self-directed trading.” he added.
The partners at twazn quickly realized that they had been in the robo-advisory industry for most of their careers just under a different name, and so they embarked on the journey of building the Kingdom’s first inclusive and full-featured robo-advisory platform. twazn, in a nutshell, encompasses all manner of personal, cultural, and thematic investment themes, from conventional and Shariah-compliant investment portfolios, to ESG-based investing.
Yes, they even cater to clients who wish to invest based on the principles of Islamic Finance!
“Even though the robo-advisory industry is quite young in the MENA region, twazn aims to deliver levels of features and services to our clients that no other robo-advisory platform currently does.” Dr. Alsayed promised. We’re excited to see them deliver at every turn!
The investment industry has seen its share of hits and misses and overly-ambitious concepts in the age of digitization, but with twazn on the scene, the business of financial advice and investment management, which are still relatively “human-dominated”, are about to change.
“In providing our unique service for clients, we are contributing to automation in this space. There are far too many potential investors sitting on idle cash, far too many who dislike the emotional volatility of self-directed investing, and a significant portion of both of those groups would like to make use of professional investment services, at a fraction of the cost and complexity of current offerings.” Dr. Alsayed continued to say that professional investment is a right, and not a privilege. Now that is a vision!
But as most things, education is key to successful investing, no matter how much trust and control you relinquish to your robo-advisor, and twazn recognizes that! They are among the few platforms to roll out an investment academy alongside their robo-advisory platform.
So regardless of your financial education, you will have the opportunity to grasp more knowledge of finance, investment, and delve into the intricate world of global economics and markets. They are bringing financial literacy to you!
To put it briefly, twazn seems pretty well-balanced from the outside perspective, so we asked Dr. Alsayed about the challenges they’ve faced. “One of our biggest challenges was the internal mission of building our entire infrastructure in-house.” he started, “twazn is one of the very few in this industry that relies on zero external software for client account configuration, server development, connectivity to the financial markets, portfolio composition methods, or accounting. I am lucky to have a talented team of partners with knowledge that is directly relevant to the industry.” He fondly remarked.
Since the platform has only early-access to onboarding clients due to it being under the Central Bank of Bahrain’s regulatory Sandbox program, they’re putting their final touches on a test release!
“We plan to onboard our first batch of clients in July, with a gradual rollout of products throughout 2022 until the end of our Sandbox period at the end of this year. By that time, we expect to have received full regulatory approval to bring our vision to MENA!” And we’ll be rooting for you every step of the way!
Of course, we left Dr. Alsayed’s company with several pieces of wisdom regarding aspiring entrepreneurs. “Entrepreneurship is a fulfilling endeavour, but not an easy one. For those seeking this path, we advise you to surround yourself with talent you trust, and motivate those around you to bring out the best of their abilities. After all, determination, consistency, and self-belief are ingredients of success.” *slow claps* Well said, well said.
And that’s twazn, you can sign up with your email address by visiting their website for early access, and definitely keep your eyes peeled for new announcements! Let us know what you think, get in touch with us on our social media platforms through Instagram, Twitter, Facebook, and LinkedIn. We’d love to hear from you!