Africa’s foremost information technology systems integrator Inlaks recently announced their partnership with Moven Enterprise, to provide personalised smart-banking technology solutions to the financial industry.
This partnership, which gives Inlaks turnkey access into the financial Artificial Intelligence (AI) and Machine Learning (ML) 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.
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 (AI) 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 organization, we have partnered with 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, faster speed-to-market among other benefits.
Moven offers an innovative technology platform which includes a suite of easy-to-use APIs and a Software Development Kit (SDK), which global banks use to attract, retain and grow their customer base. This technology is proven to significantly reduce attrition, deepening customer relationships and help drive new revenue streams for financial institutions.
Moven provides users with contextual personalized advice as part of the e-wallet mobile app experience. Analyzing the expenses daily, the service allows users to track their spending in real time while reducing spending and increasing savings—all to drive financial wellness and good financial habits. An automated tool for tracking spending and encouraging savings provides a way for banks to place themselves on the side of their customers.
Brett King, founder and executive chairman of Movencorp, Inc, adds, “We are delighted that Inlaks is embracing Moven’s innovative AI-driven technologies to not only create personalized digital banking experiences for their customers but also across the region.”
Inlaks is a leading systems integrator in Sub-Saharan Africa. The company partners leading OEMs in the technology industry to provide world-class information technology solutions that exceed the needs of its customers.
Over the years, Inlaks has built a reputation as the foremost ICT and Infrastructure Solutions Provider, helping customers effectively seize new market and service opportunities.
With an impressive customer base that includes six Central Banks in West Africa, 18 of the 24 banks in Nigeria and other major customers in the West African region, Inlaks has become the dominant Information Technology Company in Africa.
Inlaks' customers cut across various segments including Banking, Telecommunication, Oil and Gas, Power, Utilities and the Distribution sectors of the economy.
Moven started as a direct-to-consumer banking app in 2013 and began licensing its technology to TD Bank in 2016. The Moven app attracted increasing interest from the banking community to enhance customer engagement and financial wellness. The licensing extension led to the launch of the proprietary TD MySpend® app, TD's leading mobile money management app that now has more than 1.5 million users. As a result of this success, Moven piloted a soft-launch of Moven Enterprise with several banks, including Westpac in New Zealand, quickly expanding its global footprint to customers worldwide.
Today, global banks have access to Moven Enterprise’s customizable technology options to drive their digital growth. In addition to significantly reducing a bank’s time to market, Moven offers a range of implementation options to help banks expand their market reach and generate new revenue streams. Moven Enterprise’s solution aligns a consumer’s needs to a bank’s revenue and relationship goals. Moven’s turnkey technology model offers a range of options for easy access including Moven’s smart banking solutions stack together with open APIs and SDK tools.