Moven Enterprise, a digital banking services provider, has announced plans to expand its AI-based digital banking platform to more banks. The Moven expansion is global with targets in Latin America, APAC, Africa, the Middle East, and Europe.
Established in 2011, Moven initially started working with Canadian lender TD Bank. It also piloted a soft-launch of its platform with Westpac in New Zealand.
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Moven expansion
Moven CEO Marek Forysiak said: “Moven has a proven model for success. Several of our client banks’ results tell the story – from significantly reduced attrition rates, positive customer engagement and increased savings behaviours and reduction in spending, Moven is well-positioned to roll-out our enterprise offering to banks around the world.”
The expansion is supported by financial services provider SBI Group’s $10m investment in Moven, which is intended at strengthening Moven’s presence in Asia. The companies also formed a joint venture called SBI Moven Asia.
Moven founder Brett King said: “SBI’s partnerships with more than 60 banks across Asia gives us the opportunity to deploy our solutions quickly and efficiently, offering our Asian customers tailored and localised support and attention.”
Moven offers real-time spending insights to enable customers make better decisions. The company’s platform is said to lower a bank’s time to market and enable banks generate new revenue streams.
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By GlobalData
