According to the vendor, UOB becomes the first bank in Southeast Asia to sign for Meniga’s solution “to simplify complex and multiple transaction datasets into simple and relevant data” for its clients. It will also help the bank to gain a better understanding of customer needs and prompt them to make smarter decisions in managing their finances.
For example, a customer who dines out frequently could be asked if they would like to set a budget for dining out and to be alerted to stay on track. The customer can also categorise expenses through personalised hashtags, such as #rainydayfund or #coffeewithfriends and check in real-time how much has been spent in each category.
Meniga’s solution powers UOB’s digital bank’s expense tracking which sorts and categorises these large volumes of complex transaction data. This means our customers can match their purchases without having to scratch their heads trying to figure out the retail or brand name associated with the merchant.
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