Yandex.Money moves mobile wallet forward with Moven
Moven Enterprise has partnered with mobile wallet company Yandex.Money to power smart banking technology for the Russia-based company, reports Julie Muhn at Finovate.
“Yandex.Money is no longer just an electronic wallet”
Yandex.Money will leverage Moven Enterprise’s open APIs to embed new features and functionality into its mobile app, pushing new product offers that extend beyond the company’s flagship mobile wallet. The partnership will give Yandex.Money’s mobile wallet offering a boost by giving its 46 million mobile wallet customers access to real-time personalised financial management tools.
“Yandex.Money is no longer just an electronic wallet, as we offer options familiar to banking clients such as money transfers, card issuance, cashback, payment for various goods and services,” Ivan Glazachev, Yandex.Money CEO, explains. “We also offer users the opportunity to choose the app design theme, make investments, and now effectively control their funds.”
The new features will also encourage users to adopt existing mobile wallet offerings.
Moven Enterprise takes a Software-as-a-Service (SaaS) approach by allowing banks and financial services companies to white-label its financial management technology. Moven Enterprise offers tools to help banks engage with their existing customers, acquire new customers, and drive revenue through their mobile channel.
Last month, the company announced it will bring its digital banking platform to banks in Latin America, APAC, Africa, the Middle East, and Europe.
A joint venture between Yandex and Sberbank, Yandex.Money is the largest online payment service in Russia.
