Fintech Moven unveils global expansion plans
Digital banking solutions provider Moven Enterprise is leveraging its success with banks in North America and Australasia to help more financial institutions globally improve customer engagement and build new revenue streams.
David Penn from Finovate reports.
The company says it will be bringing its artificial intelligence (AI) powered digital banking platform to banks in Latin America, APAC, Africa, the Middle East, and Europe – buoyed by a $10 million investment from SBI Group and the establishment of SBI Moven Asia earlier this year.
“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,” Moven CEO Marek Forysiak states.
Moven founder Brett King underscores SBI Group’s role in accelerating the company’s opportunities overseas. “SBI’s partnerships with more than 60 banks across Asia give us the opportunity to deploy our solutions quickly and efficiently, offering our Asian customers tailored and localised support and attention,” King said.
Moven Enterprise offers a customisable digital banking platform that enables banks to boost engagement with solutions to better help their customers manage their spending and savings. Available as a white-label, Software-as-a-Service (SaaS) offering, the technology supports instant mobile signup to make new customer acquisition less costly and more efficient, as well as a customer engagement engine that provides real-time spending and savings insights.
Founded in 2011, Moven is headquartered in New York City. The company has raised $47.4 million in funding, and includes TD Bank and Westpac among its partners/customers.