GCC Open Banking services provider Spire has partnered with Mastercard to help banks revolutionise consumer engagement and improve user experiences in the region by integrating Spire ‘Ingage’ and Mastercard’s Merchant Identifier solution, according to Zawya.
Spire ‘Ingage’ is an AI-driven financial wellbeing platform for retail banking customers, which provides smart budgeting, smart savings, smart lending, proactive bill management, and real-time financial reminders to help simplify consumer finances and financial decision-making.
Mastercard’s Merchant Identifier solution will be integrated to provide real-time merchant data into different categories, formatted to be relevant and recognisable to banks as well as their customers. This allows customers to have a simple and holistic view of their banking transactional activities. Banks will benefit from reduced inquiries as these insights provide simple and recognisable transactional insights to their consumers.
The partnership is a step towards providing real-time personalised customer experience with dynamic content that promotes proactive financial management to consumers, ultimately leading to improved customer acquisition, retention, and recommendations, Zawya concludes.
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