May 25, 2024

Spire, Mastercard Alliance Boosts and Simplifies Digital Banking

Facebook
Twitter
LinkedIn

Spire, a leading GCC Open Banking Services provider, recently announces a strategic alliance with the Mastercard, a technology leader in the global payments industry. The collaboration will help banks revolutionize consumer engagement and enhance user experiences in the region by integrating Spire “Ingage” and Mastercard’s Merchant Identifier solution.

Spire added that its Spire “Ingage” is an AI-powered 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 sources added that their Merchant Identifier Solution will be unified to offer real-time merchant data into different groups, formatted to be relevant and recognizable to banks as well as their customers. This allocates the clients to have a simple and holistic view of their banking transactional activities. Banks will benefit from curbing the inquiries as these insights provide simple and recognizable transactional insights to their consumers.

Both the parties stated that this partnership will empower towards offering real-time customized client experience with dynamic content that promotes proactive financial management to consumers, ultimately leading to enhanced customer acquisition, retention, and recommendations.

Aamir Janjua, Group CPO of Aion and Spire

Aamir Janjua, Group CPO of Aion and Spire, stated: “Our promise is to enable a connected, simplified, and convenient financial lifestyle and experience for the 65 million GCC consumers. ‘Ingage’ helps banks to offer personalized financial services and insights to their customers to better manage their financial lives. We are excited to partner with Mastercard to provide simple, transparent, and meaningful transactional insights to banks and their customers.”

J.K. Khalil, Country General Manager, MENA East, Mastercard

J.K. Khalil, Country General Manager, MENA East, Mastercard, stated: “We are delighted to announce our partnership with Spire as part of our efforts to simplify the digital journey for consumers. Through this partnership, cardholders can now easily understand their payments history, therefore eliminating the need to clarify statements, and allowing for better financial management. We see this innovation as a key milestone in our ongoing efforts to provide seamless and simple payment experiences for all as we embrace the limitless possibilities presented by Open Banking.”

Source

Share.

RELATED POSTS

This launch provides gamers in Egypt to easily purchase PUBG MOBILE UC through the official PUBG shop ‘Midasbuy’. Image Courtesy TPAY
TPAY MOBILE partners with Tencent
Mastercard’s strategic partnership with Delivery Hero continues to fuel the growth of the ecommerce in the Middle East and North Africa (MENA) region.
Mastercard partners with Delivery Hero
Estafsar inks agreement with Al Wataniya
Estafsar inks agreement with Al Wataniya
  • Telcotech

LATEST POSTS

INTLBM MAGAZINE COVER FOR WEB
Join us on May 29th, 2024, at the Holiday Inn Business District in Riyadh, Saudi Arabia, for Cyber Next Summit & Awards 2024 - KSA Edition.
Image used for illustrative purpose
A dash camera is like having a silent witness on the road, ready to capture those unexpected moments and setting Dash cams on cars is also vital