Leveraging Finshape technology personalisation and data analytics platform, Arab National Bank aims to improve its banking services and meet the diverse requirements of its clients. Following this announcement, Finshape stated that this collaboration with anb reflects their commitment to customer-centricity in the Middle Eastern banking scene. Moreover, both companies aim to transform how customers manage their finances and provide users with tailored solutions to help them reach their financial goals.
Within less than ten years, the payment and banking ecosystem has moved from being prioritised as a digital second to transitioning to a digital-first approach. As advancements in technology continue to push forward and create more effortless ways of living, the general population's tastes are also adapting considering an ever-more digital society. Consequently, this transition has ignited progressive developments in customer demands.
Moreover, with an increase in digitalisation and a tech-savvy population in the Middle East, banks and financial institutions are finding themselves rethinking their strategies to remain competitive. But digitalisation goes beyond modernising, implying structural changes that break traditional barriers and transform how financial entities function, engage with clients, and provide benefits. Thus, as finance and technology converge at an ever-increasing rate, adopting digitalisation is now deemed essential rather than optional.
On this background, together with Arab National Bank, Finshape developed and implemented its newest feature, the Money Stories format, which showcases categorised spending and forecasts to help customers stay ahead of their finances. Additionally, the bank will be able to communicate relevant connecting offers.
According to the official press release, both organisations share a common goal of providing their customers with personalised financial tools and services that make banking more efficient and help them achieve their financial aspirations. Therefore, this collaboration will focus on data-driven insights, sales, and personal financial management to create customised solutions that adapt to each customer's preferences and needs to boost customer engagement.
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