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Finshape partners with Arab National Bank

Friday 19 January 2024 13:35 CET | News

Fintech solutions provider Finshape has partnered with Saudi Arabia-based Arab National Bank (anb) to deliver customised banking experiences to their customers.

 

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.

Finshape has partnered with Saudi Arabia-based Arab National Bank (anb) to deliver customised banking experiences to their customers

 

The payment and banking ecosystem in Saudi Arabia

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.


The Money Stories format 

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.

Commenting on this, Arab National Bank stated that this collaboration will result in a significant transformation in their clients' banking experience, providing them with services tailored to ease their banking activities and help them achieve their financial goals. This partnership also aims to set a new standard in digital banking interactions by incorporating engaging and educational features such as a social media story-like format within the bank's app. This marks a significant upgrade in the financial landscape of Saudi Arabia.

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Keywords: partnership, digitalisation, banking, financial services, payments
Categories: Banking & Fintech
Companies: Arab National Bank, Finshape
Countries: Middle East, Saudi Arabia
This article is part of category

Banking & Fintech

Arab National Bank

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Finshape

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