UAE-based Abu Dhabi Commercial Bank (ADCB) has introduced its personal finance management (PFM) application, which is powered by Strands’ technology.

Dubbed MoneyBuddy, the new application will help the ADCB customers to manage their finances independently.

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The ADCB personal finance management app will enable the customers to track their expenditures and savings goals.

Additionally, it will provide insights on monthly cash flow and the impact of purchases on their individual financial health.

Overall, it will provide a complete overview of customers’ finances as well as enable ADCB another channel to communicate with its clients.

All iOS-user customers can log in to the app through Face ID, a biometric facial recognition technology.

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Strands noted that it has already delivered such customisable digital money management software to various banks worldwide.

It utilises big data and machine learning capabilities to develop artificial intelligence (AI)- based software solutions.

ADCB, which was established in 1985, offers retail and corporate banking services through its 49 branches.

Additionally, it has two branches in India, one branch in Jersey and representative offices in London and Singapore.

Last month, the company reached an agreement with domestic rivals Union National Bank and Al Hilal Bank to merge their operations.

The merger will create a $114bn lender, the third-largest bank in the country.

The three lenders were in talks since last September for a three-way merger to improve their profitability.