Sav, a leading financial technology company revolutionizing money management in the UAE, simplifies budgeting for UAE residents with the launch of ‘MyMoney’ on the Sav app. Through ‘My Money,’ UAE residents can track, analyze, and gain deeper insights into their cash flow.
‘MyMoney’ consolidates users’ financial data from all their bank accounts and presents it on one simplified dashboard. Users can also look up transactions by merchants or categories and get reminders for bill payments and subscriptions.
Purvi Munot, co-founder and CEO at Sav., agrees that “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 set up Sav MyMoney, users simply link their bank accounts and allow the app to automatically categorize their expenses, track their transactions, and analyze their spending. To provide near-perfect categorization and intelligent insights, MyMoney leverages Google’s Gemini AI, which has multimodal capabilities, allowing it to generate and process text and images seamlessly.
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 unwavering commitment to privacy and security, user data is used solely for the purposes that users have consented to: to provide insights into users’ financial reality and help them shape it. Users can revoke consent at any time.
Mithil Ajmera, Co-Founder and COO of Sav, adds, “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 optimize their expenses and cash flow.”
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.
Sav’s MyMoney, launching in phases beginning Thursday, is the latest development by Sav. It has been steadily broadening its portfolio, from budgeting, goals, automation, prepaid cards, gamification, and gift cards. Sav was recently identified by Google as one of the 10 women-led startups in AI in the MENA region, and ever since, it has launched multiple products and features to make money management easier for their users.
