SINGAPORE and RIYADH, Saudi Arabia, Feb. 15, 2022 /PRNewswire/ -- In alignment with KSA Vision 2030 and as part of the responsibility of The Saudi Investment Bank (SAIB) to encourage a saving culture among the customers in Saudi Arabia, Moneythor, a leading digital banking solution provider has been selected by SAIB to implement personal financial management (PFM) tools that will provide the Bank's customers with more holistic experiences and enable them to have a better understanding of their personal finances.
The Moneythor solution is powered by real-time data, machine learning and behavioural science techniques to help banks improve functionality and power highly personalised experiences for their customers across digital channels.
As a leading bank in Saudi Arabia and being at the forefront of digitalization, Moneythor's engine and data-driven personalisation capabilities allow SAIB to focus on customer centricity and to enhance its digital engagement capabilities whilst deepening its relationship with customers by providing them with a more intuitive experience to address their financial needs and goals, both short and long-term.
SAIB's PFM is the first service in Saudi Arabia providing consumers with a solution that serves them with personalised, contextual and actionable recommendations and insights into their day-to-day finances.
"We are thrilled to be partnering with SAIB for this new service provided to their digital banking users in Saudi Arabia," said Olivier Berthier, CEO at Moneythor. "We wish to congratulate SAIB on a smooth integration project to deliver best-of-breed customer-first digital banking experiences with enhanced financial wellbeing capabilities, which is a central tenet of our solution. It is a pleasure to collaborate with forward-looking financial institutions like SAIB who share the same priorities, and we look forward to implementing the additional use cases we have in store for local users."
"SAIB customers deserve a unique digital experience beyond traditional internet banking offering with more data driven digital services, and we enable the customers to understand their financial behaviour and provide them with smart recommendations using our PFM platform, which can support their financial decisions," said Faisal Al-Omran, the CEO of SAIB.
Moneythor provides financial institutions with a modern toolkit to enhance their digital services by providing actionable insights and data driven personalised recommendations enhanced with Open Banking. The solution is a fully scalable orchestration engine that sits between data sources and customer channels, delivering highly personalised and engaging customer experiences in real-time.