In line with Saudi Arabia’s Vision 2030, Ta3meed will use Moneythor’s Personal Financial Management and Loyalty products to enhance its PO financing offering.
This will include a creative loyalty programme for better investment opportunities, rewards attribution techniques and personalised experiences for customers.
Moneythor’s solution uses data, machine learning and behavioural science to provide personalisation for digital financial management.
On the partnership, Mohamed Alomayyer, chief executive officer and co-founder of Ta3meed, said: “The partnership with Moneythor will give Ta3meed a competitive edge in enriching its PO financing offer with smart loyalty features and personalised recommendations, which will be differentiated through innovation, customer experience and reliability.”
Olivier Berthier, chief executive officer and co-founder of Moneythor, added: “We are excited to collaborate with such a forward-looking financial institution and to enrich their innovative Islamic PO financing capabilities for consumers and businesses in Saudi Arabia.”
The partnership was announced at the Seamless Saudi Arabia 2022 conference in Riyadh, by Ammar Alsinaidi, chief operating officer at Ta3meed and David Sorreluz, regional sales director at Moneythor (both pictured). The exhibition covered the latest innovations in payments, retail and e-commerce.
Saudi Arabia’s digital payments market is evolving as part of its Vision 2030, which aims to increase the number of cashless transactions within the jurisdiction to 70%.
Open banking solution provider Salt Edge recently expanded its services to Saudi Arabia in a bid to help financial institutions in the jurisdiction bring innovative solutions to market and add to the rise of digital technologies in the region.