Singapore, 18 January 2021 – Navis Capital Partners, an Asia-based private equity firm, has completed an investment in Moneythor Pte Ltd. Founded in 2013 by banking technology veterans and digital entrepreneurs with a strong background in computer science and applied mathematics, Moneythor is a technology company providing financial institutions and fintech firms with solutions to enhance their digital banking services, with a prime focus on the generation of data-driven personalised and contextual recommendations for their customers. Moneythor is headquartered in Singapore and is present in London, Paris, and Tokyo.
Traditional banks are facing new challenges from customers, regulators, market condition and disruptors. Customers expect banks to simplify their lives and have deep understanding of their needs and goals through data while protecting their money and identity. Moneythor’s open banking-enabled personalised content enables banks to deepen customer engagement which is imperative to delivering engaging digital experiences to users through its Artificial Intelligent (AI) and Machine Learning (ML) powered engine. Moneythor provides financial institutions with a cloud-native software solution to enhance their digital banking services across multiple channels such as mobile, web, ATMs and chatbots. Driven by data, it focuses on the delivery of real time, personalized contextual and actionable recommendations, nudges and insights to the banks’ customers.
Olivier Berthier, the CEO and co-founder of Moneythor, commented: “I am delighted to welcome Navis as shareholders in Moneythor and we look forward to partnering as we accelerate the growth of the business. This significant investment is a testimony of the international success of our solution in helping financial institutions enhance their digital banking services to make them more personalised and contextual for their customers. It is also an acknowledgement of the ongoing growth of the market fuelled by new regulations such as Open Banking and new digital & virtual bank licenses globally.”
Rajendra Pai, Partner at Navis, commented: “Digital Banking and FinTech is growing and quickly evolving to be a part of consumers’ everyday lives in markets across the globe. In these days of elevated customer expectations Moneythor’s solutions synthesising insights through AI and ML help make digital financial services more relevant, more personal and insightful for customers thereby creating incredible value and customer experiences. We strongly believe in the vision, skills, and expertise of the management and the broader team at Moneythor and are thrilled to be a part of this story and look forward to taking Moneythor to the next level of growth and beyond.”
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