Sav, a Dubai-based fintech focused on money management, has launched a new feature on its app dubbed ‘MyMoney’, helping affluent UAE residents track, analyse, and gain deeper insights into their cash flow.
Available on the Sav app, ‘MyMoney’ plans to consolidate users’ financial data from all their bank accounts, and presents it on one central dashboard. Users can also look up transactions by merchants or categories and get reminders for bill payments and subscriptions.
Sav MyMoney also offers a transaction history of up to 180 days, enabling users to review past spending patterns and identify trends to make informed financial decisions. As part of Sav’s commitment to privacy and security, user data is only used to provide insights into users’ financial reality and help them shape it. Users can revoke consent at any time.
“Today’s consumers juggle multiple financial accounts, making it hard to track spending,” explained Purvi Munot, co-founder and CEO at Sav. “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 set up Sav MyMoney, users simply link their bank accounts and enable the app to automatically categorise their expenses, track their transactions, and analyse their spending. To provide accurate categorisation and intelligent insights, MyMoney leverages Google’s Gemini AI which also boasts multimodal capabilities, enabling it to generate and process text and images seamlessly.
Supporting enhanced money management
Sav explained that many of the UAE’s mass-affluent individuals struggle with fragmented finances across various platforms, a problem intensified by the rise of digital and card payments. This added complexity can lead to ineffective financial decisions and may even harm credit scores.
Mithil Ajmera, co-founder and COO of Sav, also 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.”
Launching in phases beginning this week, Sav’s MyMoney aims to solve a significant financial issue in the UAE. Sav has also been steadily broadening its portfolio, from budgeting, goals, automation, prepaid cards, gamification and gift cards.
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