NEW DELHI, November 17, 2021 /PRNewswire/ — Comvivaone of the world’s leading providers of digital financial solutions, today announced a strategic partnership with Strands to provide an integrated suite of intelligent digital banking, wallet and payment solutions.
Through this partnership, Comviva will leverage the intelligence of Strands Personal Finance Management (PFM) Solution to enable banks and financial service providers to deliver personalized and contextual digital offers to their consumers, improving consumer engagement and generating cross-selling and up-selling opportunities.
Speaking on the partnership, Srinivas NidugondiChief Growth & Transformation Officer at Comviva noted, “Comviva is focused on improving the customer experience by embracing next-generation technologies. Our collaboration with Strands will allow us to leverage data analytics, artificial intelligence and finance management solution learning-driven personalities to deliver an enhanced digital banking and payment experience.For banks, financial institutions and digital wallet providers, the PFM solution will help accelerate innovation, increase user engagement, create up-sell and cross-sell opportunities and drive greater long-term consumer value and brand loyalty.”
Strands provides innovative financial solutions such as personal finance management to over 700 banks and financial institutions in over 30 countries, delivering a personalized digital experience to over 100 million consumers. The PFM developed by Strands allows digital banking and wallet users to get a holistic view of all their accounts, track all financial transactions and get a complete view of their income, expenses and cash flow through visual dashboards. Users can monitor expenses and income over a period of time in terms of categories such as food, transportation, utilities, recreation, etc. With detailed income and expense information, users can leverage the PFM to create monthly budgets and track them closely to meet their personal savings goals.
With Strands PFM, users can have full control over their daily cash flow by viewing their past and upcoming transactions in a calendar heatmap. With built-in pattern recognition, PFM can predict future income, expenses, and cash flow, allowing users to make smart decisions and better manage their finances. Users can anonymously compare their financial behavior with peers in the same age, gender, location, or income group and create smarter financial goals aligned with their social group.
Speaking on the partnership, Erik BrievaStrands CEO noted, “At Comviva, we have a leading partner with which to deliver an enhanced personal banking experience through Strands PFM. Like Strands, Comviva has a global reach and is committed to developing truly innovative digital financial solutions. PFM and the mobiquity banking suite ® from Comviva complement each other naturally We look forward to working closely with Comviva to continue to push the boundaries of financial innovation and, through our partnership, enable banks to improve the financial services experience of millions of their customers all over the world.
Users can set reminders for upcoming payments or alerts to fund the account for future payments, ensuring users pay on time without having to remember the payment date. The PFM tool also provides proactive and actionable notifications to users in real time about breaches of spending limits, removing the element of surprise from users’ financial futures. Strands leverages data predictive analytics, Artificial intelligence and machine learning capabilities to provide personalized financial advice and recommendations to users, helping them build a secure financial future.
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Comviva Technologies Ltd.
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