Market Watch: ADCB has gone live in the United Arab Emirates with its personal finance management (PFM) application built on Strands’ technology. The MoneyBuddy app helps ADCB customers understand and manage their finances in a smarter and more independent way.
Abu Dhabi Commercial Bank is introducing a new way of communicating with its clients, focusing on a transformative user experience and offering their users all the tools they need to get a 360 snapshot of their entire financial world.
Strands has a proven track of record of developing and delivering highly-customizable digital money management software to top-tier banks worldwide – and was selected by ADCB as their key FinTech partner for that journey.
More than half a million ADCB customers can already benefit from the MoneyBuddy PFM app functionalities, allowing them to:
- Track their spending, savings goals and budgets
- Predict how purchases will impact their overall financial health
- Understand their monthly cash flow so they’re never caught unaware
Moreover, to speed up the customer onboarding process in MoneyBuddy, iOS users are able to log into the app through Face ID, a biometric facial recognition technology.
According to ADCB, customer feedback has been outstanding so far, with registrations currently doubling their initial target. MoneyBuddy has already achieved a rating of over 4.5 in app stores.
Strands’ value-added solutions enable deeper and mutually beneficial long-term value between ADCB and its customers, helping them cement their commitment to relationship banking.
ADCB was formed in 1985 and as of 31 December 2018 employed over 5,000 people from 84 nationalities, serving retail customers and corporate clients in 49 branches, in addition to the 2 SimplyLife Sales & Service Centers and 4 uBank Centers in the UAE, 2 branches in India, 1 branch in Jersey and representative offices in London and Singapore .
ADCB is a full-service commercial bank which offers a wide range of products and services in both conventional and Shari’ah compliant banking, operating in Consumer Banking, Wholesale Banking, Treasury and Investments and Property Management.
Since 2004, Strands has been leveraging extensive expertise in Big Data and Machine Learning to develop AI-based, highly-customizable digital money management software.
By working with top-tier financial institutions worldwide and serving more than 600 bank implementations, Strands promotes financial wellness for both individuals and business customers.
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