Enhancing Digital Banking: Moneythor

Founded in 2013, Moneythor is a software company that provides banks and fintech firms with a modern toolkit to enhance their digital banking services, with a prime focus on the generation of data-driven, personalized, and contextual recommendations for their customers. Since inception, Moneythoraims to make digital financial services more relevant, more personal, and to wipe out the myth that one cannot get great financial insights when he/she visits the financial institution online.

Moneythor is headquartered in Singapore and also present in Paris and London. Its solution is currently used by financial institutions in Australia, France, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, and Vietnam. It helps its client to upgrade an existing mobile and/or internet banking service, to launch a digital bank or a new proposition from scratch, and also enables a chatbot to respond to more complex intents.

Solutions Offered By the Company

Whether the client is a bank or fintech firm planning to upgrade its existing digital banking services already available to its retail and/or business customers or to launch a brand-new digital bank, the Moneythor solution provides out-of-the-box capabilities to fast-track such initiatives while enabling the clients to deliver unique data-driven personalized content and deeper engagement. It works to cater to solutions such as:

Retail Banking: Traditional features offered by retail banks via their digital channels are often exclusively transactional and not effective at engaging with customers or genuinely helping them with their daily financial needs. What is required is a more proactive approach, whereby transaction and activity data is constantly analyzed in order to provide personalized insights and timely recommendations to consumers.

The Moneythor solution delivers a powerful and flexible platform along this vision to enable customers of retail banks and B2C fintech firms to improve their finances both in the short and long term.

Business Banking: At most commercial banks today, SME and corporate customers can accomplish a wide range of their companies’ everyday banking activities online. However, those digital services generally fall short when it comes to truly assist businesses to improve their finances.

Moneythor empowers commercial banks to leverage digital banking as the ideal medium to deliver tailored data-driven financial assistance with transaction insights, forecasts, and recommendations for relevant products to their business and SME customers, across cash management, FX, commercial cards, and trade and supply chain finance.

Product Offerings

The Moneythor software solution is a channel-agnostic data-processing engine with a rich API enabling banks and fintech firms to offer improved functionality and experience to their customers through their digital banking services, such as Web, mobile, and chatbots.

The solution is a pure Java EE application designed from the ground-up to be bank infrastructure-friendly and scalable. It is deployed on premises in the financial institutions’ technical infrastructure or in the cloud. Following are the products offered by the company:

PersonalizedRecommendations and Insights: The prime focus of Moneythor is in the delivery of real-time, personalized, contextual, and actionable recommendations and insights to customers. Examples of these include personal or business financial management (PFM/BFM) features, budgets, goals, automated savings alerts, predictive forecasts, financial literacy material, cross-selling, card-linked offers (CLO) and more.

The solution is packaged with a library of pre-configured content, insights, notifications,and nudges ready to be used and covering a broad set of use cases. Custom ones can also be uniquely crafted by the banks in the solution’s user-friendly back-office tool.

Web, Mobile, and API: The Moneythor solution delivers a flexible framework to enhance the digital banking experience of customers across all devices with out-of-the-box Web integration and a modern developer-friendly API, fully documented, and consistent across its front-end and back-end endpoints.

From unified transaction history across accounts, cards and/or wallets to powerful search capabilities, advanced money management features, self-service personalization,and digital engagement tracking, all capabilities are available through the UX-agnostic API.

Rich Banking Data: Leveraging rules-based expert system capabilities, statistical algorithms,and machine learning, the Moneythor engine is used to augment, classify and analyze transaction data in order to generate better insights for the financial institutions and their customers.

It covers the processing of multi-bank (Open Banking / PSD2) and multi-currency instruments, custom events, the auto-categorization of both income and expenses, the normalization of transaction details for improved analytics, the automated detection of trends, patterns and more.

Meet the Leader

Olivier Berthier, Co-Founder and Chief Executive Officer of Moneythor

“We are a small multi-cultural team delivering great technology solutions to our customers, always on the lookout for people passionate about the prospect of improving digital financial services.”