According to the partners, the alliance gives Inlaks turnkey access into the financial Artificial Intelligence, AI, and Machine Learning, ML, market and provides the company the opportunity to establish a solid ground as a leading, innovative AI/ML financial solution provider in the global banking sector.
Managing Director, Africa Operations at Inlaks, Femi Adeoti said: “According to the financial report 2019, one of the five innovation trends that will define Banking in 2019 is Artificial Intelligence, AI predictive banking, which the Moven smart apps technology provides. The report also shows that AI predictive solutions will leverage customer data to provide enriched customer experience while increasing security and efficiency.
Executive Chairman of Movencorp, Inc, Mr. Brett King, said his company was delighted to see that Inlaks embraced Moven’s AI-driven technologies to create personalised digital banking experiences for their customers. He said: “Moven offers an innovative technology platform which includes a suite of easy-to-use APIs and a Software Development Kit, SDK, which global banks use to attract, retain and grow their customer base. This technology is proven to significantly reduce attrition, deepening customer relationships and help drive new revenue streams for financial institutions.
“It provides users with contextual personalised advice as part of the e-wallet mobile app experience. Analysing the expenses daily, the service allows users to track their spending in real time while reducing spending and increasing savings—all to drive financial wellness and good financial habits. An automated tool for tracking spending and encouraging savings provides a way for banks to place themselves on the side of their customers,” King added.