First Solution was launched in 2010, and it celebrated its tenth anniversary with a very important milestone, its launch in the United States, after a decade of success, perseverance, and commitment in the United Arab Emirates. Led and set up by Moeen Khan – who has been associated with the banking industry for the past 25 years, Khan sensed a gap in the market; the paucity of operation and a data-driven high-performance debt collection company led to its opening up to facilitate the credit industry.
First Solution is a debt management and consolidation company designed to meet the needs of all types of consumers; From banks to companies and individuals. FS clients include all major regional banks in the UAE, including Citibank, HSBC, NBD Emirates, CBI, Barclays and Samba Bank Saudi Arabia. Their continued dedication and unremitting commitment, despite the global Covid-19 epidemics, has facilitated them in providing them with a new platform – to reach and enter the US market, which will subsequently give the company an amazing opportunity for growth and prosperity.
“I am very excited about launching in the US because it is the most important market in terms of credit, and I believe we have the right skill set available to meet all of its needs and requirements. Due to the current global pandemic, the entire focus has shifted to cost savings, so this is the best time to enter the US credit industry. Primarily, because our business model is an offshoring model – which gives a very profitable pricing model to US customers. ”
Currently, FS manages over 200,000 debit accounts valued at over 1 billion USD. During the recent global pandemic, FS became the only debt collection company in the region that was able to scale up operations and perform complex obsolete debt collections from home, without compromising data security and compliance standards.
FS is the number one preferred company for businesses and clients looking to improve their credit score and provides full assistance when it comes to debt. In the future, FS aspires to explore other markets, amplify their footprints, and eventually emerge as the largest global debt collection company.