Singapore-based Moneythor Moneythor : Banking sector in the UAE is poised for continued growth and transformation driven by AI

 

Singapore-based Moneythor, a global leader in personalisation solutions for banks, has lauded the UAE banking sector for its rapid adoption of artificial intelligence and digital innovation. The country is well-positioned for sustained growth and transformation, driven by advancements in AI, smart banking solutions, digital currencies, and AI-powered robo-advisors—all set to significantly enhance customer experience and operational efficiency.

By 2027, it is projected that 85% of customer interactions in the UAE banking sector will be assisted by AI. Currently, 71% of financial institutions in the country have already deployed or enhanced AI capabilities in the past year, underscoring the sector’s commitment to innovation.

However, the path to an AI-powered future also demands a strong focus on ethical practices, comprehensive risk management, and a proactive approach to navigating the evolving regulatory landscape.

The suite permits banks to leverage the full potential of their data to deliver experiences which resemble those of popular technology and media apps in terms of personalization, proactivity and engagement – a challenge which many of the region’s banks are currently struggling to deliver in practice.

According to global research from Fintech Futures¹ amongst banking and fintech decision-makers across the globe, only 23% of financial institutions would describe their acquisition approaches successful, nearly half (49%) admit that their current technology

solutions are unable to provide engagement post onboarding, while a staggering 15% of newly acquired customers drop-off after the first 3 months.

Martin Frick, Moneythor’s CEO, explains that Moneythor’s new AI suite will squarely address the challenges facing banks to deliver deeper customer engagement.

“Specific, built-for-purpose AI is fundamental to the delivery of deep banking experiences; namely, hyper-personalisation, anticipation, and a proposition that extends beyond traditional financial offerings. And with respect to the latter, the opportunity is particularly compelling. Banks are, literally, at the intersection of people’s daily lives; whether around routine transactions or once-in-a-lifetime ones. Each provides an opportunity to connect with an additional service, or a complementary brand    even beyond the finance space.”

“Moneythor has been applying technologies such as big data, machine learning and AI to support the delivery of more personalised, predictive banking experiences for more than 13 years. Our new AI suite builds upon this ‘muscle memory’ with the addition of generative, conversational and agentic AI capabilities.” adds Martin

Specifically, Moneythor’s AI suite will enable banks to intuitively develop, test, deploy and adapt personalised customer content and recommendations, ‘on the fly’ by integrating with any (or multiple) Large Language Models (LLM), without the requirement to train each one separately. Resulting campaigns are not only deeply personalised, but self-adapting – thanks to the incorporation of Agentic AI – enabling them to adjust and respond to individual customer situations in real time.