By Nnamdi Odumody
Moven is a digital banking platform for the future which utilizes Near Field Communication technology provided through contact stickers placed on smartphones, allowing users to pay for goods and services in the U.S through MasterCard. Its customers can monitor their financial health through its solutions which include CRED Score, Money Pulse, Money Path and a financial personality test.
Moven offers an innovative technology platform which includes a suite of easy-to-use APIs and a Software Development Kit (SDK), which global banks use to attract, retain and grow their customer base. This technology is proven to significantly reduce attrition, deepening customer relationships and help drive new revenue streams for financial institutions.
Moven provides users with contextual personalized advice as part of the e-wallet mobile app experience. Analyzing the expenses daily, the service allows users to track their spending in real time while reducing spending and increasing savings—all to drive financial wellness and good financial habits. An automated tool for tracking spending and encouraging savings provides a way for banks to place themselves on the side of their customers.
It enables email and text payments even if the receiver is not an account holder. It has a network of over 42,000 ATMs where one can withdraw cash without any fees.
Its enterprise stack helps banks reduce attrition rates, drive new revenue streams and lower the cost of customer acquisition. Utilizing AI, banks are provided with an advice driven personalized financial wellness experience to better engage, retain and grow their customer relationships. Banks and third party data is translated into real time advisory for customers.
Customers unique spending and savings habits are mastered as they interact with their banks smart app powered by Moven. These are used to determine future financial wellness and engagement prompts such as spending list.
Moven offers a range of Open APIs for any bank to quickly and easily integrate its technology, enabling them to gain faster speed to market to support smart intelligent banking into an existing app.
Nigerian banks should through its country representative Inlaks Computers integrate Moven where necessary to deepen the banking customer experience for the future.
Inlaks, an African Information Technology systems integrator has announced its partnership with Moven Enterprise to provide personalised smart-banking technology solutions to the financial industry.
This partnership, according to a statement on the deal, gives Inlaks turnkey access into the financial Artificial Intelligence and machine learning market, provides the company the opportunity to establish a solid ground as a leading, innovative AI/ML financial solution provider in the global banking sector.