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.
The Managing Director, Africa Operations at Inlaks, Femi Adeoti said, “According to the financial report 2019, one of the five innovation trends that will define banking in 2019 is the artificial intelligence predictive banking, which the Moven smart apps technology provides. The report also shows that AI predictive solutions will leverage customer data to provide enriched customer experience while increasing security and efficiency. As a forward-thinking organisation, we have partnered Moven to ensure we cater to the needs of our customers across various segments.”
He further highlighted the benefits of the solution to banks and financial institutions to include enhanced customer relationships, generation of new revenue streams, expansion of market reach, reduction in attrition rates, improving customer engagement, and faster speed-to-market, among other benefits.
According to the statement, Moven offers an innovative technology platform which includes a suite of easy-to-use APIs and a software development kit, which global banks use to attract, retain and grow their customer base.
It added that the technology had proven to significantly reduce attrition, deepen customer relationships and helped drive new revenue streams for financial institutions.
The statement explained that Moven provided users with contextual personalised advice as part of the e-wallet mobile app experience, analysed the expenses daily and allowed users to track their spending in real time while reducing spending and increasing savings—all to drive financial wellness and good financial habits.
It added that an automated tool for tracking spending and encouraging savings provided a way for banks to place themselves on the side of their customers.
Commenting on the partnership, the Founder and Executive Chairman of Movencorp Inc, Brett King, added, “We are delighted that Inlaks is embracing Moven’s innovative AI-driven technologies to not only create personalised digital banking experiences for their customers, but also across the region.”