Mastercard partnered with Singapore-based fintech Moneythor. The collaboration provides enhanced digital insights for customers of First Abu Dhabi Bank (FAB). FAB is the largest bank in the UAE.
The partnership leverages Mastercard's payment processing capabilities and Moneythor's personalization technology. This offers FAB consumers detailed insights into spending habits.
The initiative provides clearer transaction details, including recognizable merchant names and logos. It automatically categorizes customer spending.
The service delivers cashflow forecasts and transaction summaries. This empowers users to better manage finances. The move expands an existing relationship between Mastercard and Moneythor, which began in 2019.