Sav, a prominent fintech company based in Dubai, has introduced a groundbreaking feature on its app named ‘MyMoney.’ This new tool is designed to help affluent UAE residents gain a more comprehensive understanding of their personal finances by offering advanced tracking and analysis capabilities.
The ‘MyMoney’ feature on the Sav app aggregates financial data from all of a user’s bank accounts into a unified dashboard. This central hub allows users to view their transactions sorted by merchants or categories, set up reminders for upcoming bill payments, and keep track of recurring subscriptions.
In addition, ‘MyMoney’ provides access to transaction history for up to 180 days, giving users the ability to review past spending trends and make better financial decisions. Sav emphasizes its commitment to privacy and security, assuring users that their data is only utilized to offer insights into their financial situation and is not shared or used for other purposes. Users retain full control and can withdraw consent at any time.
Purvi Munot, co-founder and CEO of Sav, commented, “Today’s consumers juggle multiple financial accounts, making it hard to track spending.
Sav MyMoney simplifies this by bringing everything together in one place. With stunning visuals and clear insights, we’re empowering people to confidently manage their money.”
To activate Sav MyMoney, users need to link their bank accounts, allowing the app to automatically categorize expenses, monitor transactions, and provide analytical insights. The feature utilizes Google’s Gemini AI, known for its multimodal capabilities, which processes both text and images to deliver accurate categorization and intelligent analysis.
Sav highlighted that many UAE residents face challenges with fragmented financial information due to the growing use of digital and card payments. This complexity can lead to poor financial decisions and potentially impact credit scores.
Mithil Ajmera, co-founder and COO of Sav, added, “At Sav, we are deeply committed to user privacy and security. All data is securely encrypted and protected, and we follow strict privacy policies and security measures to keep user data safe. We don’t want to know how our users use their money. We want them to know it, so they can optimise their expenses and cash flow.”
The rollout of ‘MyMoney’ begins this week, with Sav aiming to address a significant financial challenge faced by many in the UAE. The company has been expanding its range of services, including budgeting tools, goal setting, automation, prepaid cards, gamification, and gift cards.
