Moneythor is a financial technology company providing advanced personal finance management & customer analytics capabilities to banks in Europe & Asia

Country: SingaporeImage2

Year: 2013

Concept

  • Implemented in Asia & Europe (UK and France), Moneythor offers an advanced Personal Finance Management (PFM) solution to financial institutions, to help them enhance their digital (online and mobile) banking capabilities
  • The solution couples a traditional PFM with contextual and predictive analytics capabilities, allowing banks to provide their customers with integrated personal finance management (PFM) functionalities such as predictive forecasts, money management tips, automated alerts, budgets, etc. to help them optimize their day-to-day budget management
  • In addition, Moneythor also offers them contextual recommandations including advice to improve their purchasing power, as well as marketing promotions and offers
  • Moneythor also delivers relevant cross-selling offers and third-party promotions from banks or card issuers to support marketing activities
  • In January 2016, Moneythor announced that DBS Bank has deployed its solution for PFM. The first implementations were the bank’s new online-only “Digibank” offering in India, and “DBS Omni”, its innovative credit card companion app in Hong Kong

Consumer Benefits

  • Personalised: recommandations are generated through the analysis of the customer’s spending behaviour
  • Real-time: the analysis and generation of recommandations is performed in real-time, giving customers the opportunity to react quickly

How To Use

  • The  customer interface differs from one bank to another as Moneythor’s solution is licenced as an API that is integrated within the banks existing front-end applications (mobile, web)
  • Consequently, it is up to the bank to decide what the interface looks like and how it works for the customer
  • In all cases, the customer can access his transactions categorized by type, tags, history. Alerts and notifications will pop-up when limits are reached as well as offers and promotions when specific purchases are made

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