INTELLIGENT BRANDS // Mobile Technology
FinAI startup launches MalyGPT , an AI solution for transforming personal finance across North Africa
The launch of MalyGPT comes at a critical time when financial literacy is recognised as a global challenge . Maly aims to address this challenge by offering a service that not only tracks expenses and liabilities , but also provides actionable solutions and wellness tools , filling the gap in the region ’ s financial services .
“ We believe this tool represents a new era in personal finance management ,” said Mo Ibrahim , CEO and Founder of Maly . “ By leveraging open banking and our advanced data science models , Maly ’ s AI provides always-on personalised financial advice and solutions that go beyond general guidance , delivering tailored financial planning and decision support to its users .
“ Monitoring your savings and expenses can sometimes be overwhelming , with many individuals struggling to make informed financial decisions . Through MalyGPT , we aim to simplify this process , giving customers the flexibility to spend mindfully , highlight activities that are harmful to their budget , and develop long-term financial habits based on their unique lifestyle and savings goals .”
MalyGPT integrates advanced AI algorithms with user-friendly mobile technology , serving as a pocket-based financial assistant available anytime . Key features include custom financial planning and budgeting , real-time financial health assessments , predictive analysis for future financial scenarios , automated savings and investment advice , and a privacy-centric approach to data management .
Maly , the innovative FinAI startup headquartered in Dubai International Financial Centre , DIFC , announced the launch of MalyGPT , MENA ’ s first Generative AI Financial Assistant . With the user ’ s permission , this groundbreaking tool can analyse spending habits , financial activities , and income , then align these with saving goals to offer personalised financial advice and help them build better money habits .
MalyGPT brings a suite of financial wellness tools right to consumers , making it easier to make informed decisions about spending and financial targets . The platform , along with its new features , is crafted and fully developed by Maly ’ s in-house tech and product team .
According to a recent PwC report , the potential impact of Artificial Intelligence in the Middle East is projected to reach US $ 320 billion by 2030 . The annual growth in AI ’ s contribution is expected to range between 20 – 34 per cent per year across the region , with the UAE and Saudi Arabia this growth .
One innovative feature of the technology is the Gen-AI card designer , allowing users to create personalised artwork for their Maly cards . Users can generate unique designs for virtual cards , and enhance their interactive experience .
Maly addresses five key areas on the financial wellness spectrum : saving , debt management , spending management , security , and investing . By focusing on these areas , the app helps its users achieve their financial goals and facilitates the planning process for more effective monetary savings and a prosperous future .
Maly is a UAE-based AI-powered financial wellness platform , established in 2022 in the Dubai International Financial Centre , DIFC and launched in 2023 to empower individuals across MENA to develop better money habits . One of its core goals is to educate people and improve financial literacy via a comprehensive suite of tools and resources , including an intuitive money management app and Visa card that links directly to major UAE banks . p
62 INTELLIGENTCIO AFRICA www . intelligentcio . com