Spire Technologies is a Bahrain-based open banking services provider that serves its consumers with a robust financial ecosystem. It aims at focusing on the resolving challenges, complexities, and core problems faced by SMEs and individuals when it comes to financial management. It endeavours to provide simple, accessible, and beneficial financial ecosystem to everyone.
Continuing with the same goals, Spire has collaborated with Mastercard to help banks improve user experience and amplify customer engagement in the MENA (Middle East and North Africa) region. The partnership will lead to integrate Spire “Ingage”, and Merchant Identifier solution of Mastercard.
Aamir Janjua, Group CPO, Aion and Spire, commented, “Our promise is to enable a connected, simplified, and convenient financial lifestyle and experience for the 65 million GCC consumers. ‘Ingage’ helps banks to offer personalized financial services and insights to their customers to better manage their financial lives. We are excited to partner with Mastercard to provide simple, transparent and meaningful transactional insights to banks and their customers.”
Spire has empowered its financial wellbeing platform, Ingage, with Artificial Intelligence (AI) for retail banking customers. The platform has features such as smart savings, proactive bill management, smart budgeting, smart lending, and real-time financial reminders to streamline customer’s financial decision-making.
Mastercard a global technology organization in the payments industry brings Merchant Identifier solution, made to integrate and give merchant data in seconds into different categories. It has been designed to be recognizable and relevant to banks and their consumers as well.
J.K. Khalil, Country General Manager, MENA East, Mastercard, stated, “We are delighted to announce our partnership with Spire as part of our efforts to simplify the digital journey for consumers. Through this partnership, cardholders can now easily understand their payments history, therefore eliminating the need to clarify statements, and allowing for better financial management. We see this innovation as a key milestone in our ongoing efforts to provide seamless and simple payment experiences for all as we embrace the limitless possibilities presented by Open Banking.”
The collaboration is moving forward to deliver an instant personalized consumer experience based on real-time data that enables customers for practical financial management, and empowering the banks with easy customer acquisition, retention and recommendations.